Montgomery County vs. Mississippi
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Montgomery County vs. Mississippi
Montgomery County:
2022 TPI = $395,260K
2022 Percent of State = 0.29%
Mississippi:
2022 TPI = $136,330,235K
2022 Percent of U.S. = 0.62%
The annual total personal incomes (TPI) estimates compiled by the Bureau of Economic Analysis, (BEA) are among the most comprehensive, consistent, comparable and timely measures of economic activity available statewide and at the national levels. Personal income estimates are also the best available local level indicator of general purchasing power, and are therefore central to tracking and comparing county patterns of economic growth and change.
The following graphs highlight trends in the pattern of growth and change in the total personal income of Montgomery County and Mississippi with comparison to the nation. The data used are those compiled by the Regional Income and Product Divisions of the Bureau of Economic Analysis, U.S. Department of Commerce. The 2017 constant dollar (real) estimates of total personal income reported in the tables and portrayed graphically below are determined using the Implicit Price Deflator for Personal Consumption.
Data Definition:
Personal income is the income received by persons from participation in production, plus transfer receipts from government and business, plus government interest (which is treated like a transfer receipt). It is defined as the sum of wages and salaries, supplements to wages and salaries, proprietors' income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal dividend income, personal interest income, and personal current transfer receipts, less contributions for government social insurance. Because the personal income of an area represents the income that is received by, or on behalf of, all the persons who live in that area, and because the estimates of some components of personal income (wages and salaries, supplements to wages and salaries, and contributions for government social insurance) are made on a place-of-work basis, state personal income includes an adjustment for residence. The residence adjustment represents the net flow of compensation (less contributions for government social insurance) of interstate commuters.
Montgomery County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Montgomery County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Montgomery County's annual total personal income over 1970-2022 in current and constant (2017) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Montgomery County over time.
When measured in current dollars, Montgomery County's total personal income increased 1,220.57%, from $30M in 1970 to $395M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 124.94%, from $151M in 1970 to $341M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks Montgomery County's and Mississippi's annual real total personal income for the period 1969-2022 to illustrate real total personal income patterns over time. During this 54-year period, Montgomery County's real total personal income rose from $147M in 1969 to $341M in 2022, for a net gain of $193M, or 130.99%. In comparison, Mississippi's real total personal income advanced from $29,342M in 1969 to $117,483M in 2022, for a net gain of $88,140M, or 300.39%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Montgomery County's real total personal income growth in a broader context by offering direct comparisons across time with Mississippi, the United States. The growth indices shown here express each region's real total personal income in 1969 as a base figure of 100, and the real total personal incomes in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real total personal income growth between regions that may differ vastly in size.
Montgomery County's overall real total personal income growth was 130.99% over 1969-2022 trailed Mississippi's increase of 300.39%, and fell below the United States' increase of 348.76%.
Total Personal Income as a Percent of the Mississippi Total: 1969-2022
Total Personal Income as a Percent of the Mississippi Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total personal income growth of Montgomery County is to compare its individual percentage contributions to Mississippi's statewide total personal income over time, as shown in Figure 4. A rising share means a region's total personal income grew faster, or declined less, than Mississippi's total personal income, while a declining share shows it grew more slowly.
In 1969, Montgomery County's total personal income comprised 0.50% of Mississippi's total personal income, while in 2022 it totaled 0.29% thereby yielding a -0.21% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.21%
=
0.29%
-
0.50%
 
   
Montgomery County Real Total Personal Income:
Annual Percent Change, 1970-2022
Montgomery County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Montgomery County's real total personal income growth by tracking the year-to-year percent change over 1970-2022. The average annual percent change for the entire 53-year period is also traced on this chart to provide a benchmark for gauging periods of relative high--and relative low--growth against the backdrop of the long-term average.
On average, Montgomery County's real total personal income grew at an annual rate of 1.65% over 1970-2022. The county recorded its highest growth in 1976 (9.84%) and recorded its lowest growth in 2022 (-9.48%). In 2022, Montgomery County's real total personal income declined by -9.48%
Montgomery County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Montgomery County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Figure 6.
Over the past five decades some counties have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 6 again depicts the annual percent change in Montgomery County's real total personal income since 1970, but this time they are displayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.
During the 1970s, Montgomery County's annual real total personal income growth rate averaged 3.59%. It averaged 1.00% during the 1980s, 2.55% in the 1990s, 1.03% during the 2000s, 0.19% throughout the 2010s, 1.23% thus far this decade (2020-2022).
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Montgomery County noted in the previous graph with the corresponding decade averages for Mississippi and the nation. As the chart reveals, Montgomery County's average annual real total personal income growth posted below Mississippi's average in the 1970s (3.59% vs. 4.95%), lagged Mississippi's average throughout the 1980s (1.00% vs. 1.91%), recorded under Mississippi's average throughout the 1990s (2.55% vs. 3.60%), fell below Mississippi's average in the 2000s (1.03% vs. 2.17%), recorded under Mississippi's average throughout the 2010s (0.19% vs. 1.11%), and posted below Mississippi's average over the 3 year period of the current decade, 2020-2022 (1.23% vs. 1.70%).
Finally, relative to nationwide real total personal income growth trends, Montgomery County outgained the nation over the 1970s (3.59% vs. 3.50%), trailed the nation throughout the 1980s (1.00% vs. 3.16%), trailed the nation throughout the 1990s (2.55% vs. 3.27%), fell under the nation over the 2000s (1.03% vs. 2.06%), fell under the nation during the 2010s (0.19% vs. 2.72%), and trailed the nation over 2020-2022 (1.23% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
1.65
3.59
1.00
2.55
1.03
0.19
1.23
-9.48
 
2.69
4.95
1.91
3.60
2.17
1.11
1.70
-6.79
 
2.89
3.50
3.16
3.27
2.06
2.72
2.10
-4.19
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Montgomery County:
Total Personal Income, 1969-2022
 
1969
 
27,845
0.189
147,461
100.0
N
0.50
1970
 
29,931
0.198
151,427
102.7
2.69
0.49
1971
 
33,102
0.206
160,650
108.9
6.09
0.49
1972
 
37,172
0.213
174,451
118.3
8.59
0.48
1973
 
41,638
0.225
185,429
125.7
6.29
0.47
1974
 
44,976
0.248
181,406
123.0
-2.17
0.47
1975
 
46,953
0.269
174,806
118.5
-3.64
0.45
1976
 
54,400
0.283
192,002
130.2
9.84
0.46
1977
 
59,202
0.302
196,189
133.0
2.18
0.45
1978
 
65,779
0.323
203,802
138.2
3.88
0.45
1979
 
73,123
0.351
208,073
141.1
2.10
0.44
1980
 
78,295
0.389
201,128
136.4
-3.34
0.43
1981
 
86,754
0.424
204,536
138.7
1.69
0.43
1982
 
91,302
0.448
203,931
138.3
-0.30
0.43
1983
 
94,776
0.467
203,051
137.7
-0.43
0.42
1984
 
102,305
0.484
211,204
143.2
4.02
0.42
1985
 
104,698
0.501
208,861
141.6
-1.11
0.41
1986
 
109,030
0.512
212,870
144.4
1.92
0.41
1987
 
114,242
0.528
216,359
146.7
1.64
0.40
1988
 
125,686
0.549
229,082
155.4
5.88
0.41
1989
 
131,205
0.573
229,135
155.4
0.02
0.40
1990
 
137,301
0.598
229,696
155.8
0.24
0.40
1991
 
145,139
0.618
234,952
159.3
2.29
0.40
1992
 
159,316
0.634
251,208
170.4
6.92
0.41
1993
 
169,403
0.650
260,620
176.7
3.75
0.41
1994
 
179,474
0.664
270,471
183.4
3.78
0.40
1995
 
184,635
0.678
272,508
184.8
0.75
0.39
1996
 
194,039
0.692
280,391
190.1
2.89
0.38
1997
 
202,259
0.704
287,271
194.8
2.45
0.38
1998
 
207,967
0.710
293,047
198.7
2.01
0.37
1999
 
211,818
0.720
294,188
199.5
0.39
0.36
2000
 
219,188
0.738
296,914
201.4
0.93
0.36
2001
 
228,792
0.753
303,833
206.0
2.33
0.35
2002
 
226,390
0.763
296,745
201.2
-2.33
0.34
2003
 
236,807
0.779
304,012
206.2
2.45
0.34
2004
 
252,080
0.798
315,783
214.1
3.87
0.35
2005
 
260,680
0.821
317,411
215.3
0.52
0.34
2006
 
269,254
0.844
318,870
216.2
0.46
0.33
2007
 
278,775
0.866
321,885
218.3
0.95
0.32
2008
 
294,310
0.892
330,055
223.8
2.54
0.32
2009
 
289,477
0.889
325,544
220.8
-1.37
0.32
2010
 
294,863
0.905
325,765
220.9
0.07
0.32
2011
 
309,147
0.928
333,118
225.9
2.26
0.32
2012
 
302,740
0.945
320,245
217.2
-3.86
0.30
2013
 
304,556
0.958
317,971
215.6
-0.71
0.30
2014
 
311,140
0.971
320,363
217.3
0.75
0.30
2015
 
316,271
0.973
325,051
220.4
1.46
0.30
2016
 
322,227
0.983
327,853
222.3
0.86
0.30
2017
 
331,836
1.000
331,836
225.0
1.21
0.30
2018
 
334,445
1.020
327,736
222.3
-1.24
0.30
2019
 
342,952
1.035
331,313
224.7
1.09
0.29
2020
 
376,128
1.046
359,467
243.8
8.50
0.30
2021
 
410,161
1.090
376,291
255.2
4.68
0.30
2022
 
395,260
1.160
340,615
231.0
-9.48
0.29
Source: Calculations by the Mississippi Regional Economic Analysis Project (MS-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_300_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Mississippi:
Total Personal Income, 1969-2022
 
1969
 
5,540,675
0.189
29,342,133
100.0
N
0.70
1970
 
6,077,002
0.198
30,744,723
104.8
4.78
0.71
1971
 
6,737,073
0.206
32,696,302
111.4
6.35
0.73
1972
 
7,677,404
0.213
36,030,618
122.8
10.20
0.76
1973
 
8,779,039
0.225
39,096,143
133.2
8.51
0.77
1974
 
9,648,091
0.248
38,914,577
132.6
-0.46
0.78
1975
 
10,462,842
0.269
38,953,246
132.8
0.10
0.77
1976
 
11,877,611
0.283
41,921,473
142.9
7.62
0.79
1977
 
13,222,207
0.302
43,816,964
149.3
4.52
0.80
1978
 
14,721,611
0.323
45,611,634
155.4
4.10
0.79
1979
 
16,636,703
0.351
47,340,019
161.3
3.79
0.80
1980
 
18,102,701
0.389
46,503,034
158.5
-1.77
0.78
1981
 
20,328,860
0.424
47,928,469
163.3
3.07
0.78
1982
 
21,461,818
0.448
47,936,874
163.4
0.02
0.77
1983
 
22,457,971
0.467
48,114,601
164.0
0.37
0.76
1984
 
24,513,876
0.484
50,607,725
172.5
5.18
0.75
1985
 
25,814,984
0.501
51,498,133
175.5
1.76
0.74
1986
 
26,776,347
0.512
52,278,153
178.2
1.51
0.72
1987
 
28,256,068
0.528
53,513,253
182.4
2.36
0.72
1988
 
30,286,055
0.549
55,201,048
188.1
3.15
0.71
1989
 
32,710,737
0.573
57,125,682
194.7
3.49
0.71
1990
 
34,436,460
0.598
57,610,138
196.3
0.85
0.70
1991
 
36,310,810
0.618
58,780,085
200.3
2.03
0.72
1992
 
39,042,558
0.634
61,561,902
209.8
4.73
0.72
1993
 
41,568,620
0.650
63,951,723
218.0
3.88
0.74
1994
 
44,969,477
0.664
67,770,024
231.0
5.97
0.76
1995
 
47,565,152
0.678
70,202,722
239.3
3.59
0.76
1996
 
50,455,345
0.692
72,909,187
248.5
3.86
0.76
1997
 
53,370,558
0.704
75,802,914
258.3
3.97
0.76
1998
 
56,581,064
0.710
79,728,696
271.7
5.18
0.75
1999
 
58,494,432
0.720
81,241,138
276.9
1.90
0.73
2000
 
61,604,859
0.738
83,450,542
284.4
2.72
0.71
2001
 
65,064,052
0.753
86,404,149
294.5
3.54
0.72
2002
 
66,326,193
0.763
86,938,424
296.3
0.62
0.73
2003
 
69,011,943
0.779
88,597,251
301.9
1.91
0.73
2004
 
73,054,919
0.798
91,516,553
311.9
3.30
0.73
2005
 
77,634,967
0.821
94,530,382
322.2
3.29
0.74
2006
 
80,835,682
0.844
95,731,504
326.3
1.27
0.72
2007
 
86,186,957
0.866
99,515,001
339.2
3.95
0.72
2008
 
90,602,512
0.892
101,606,495
346.3
2.10
0.73
2009
 
89,414,013
0.889
100,554,439
342.7
-1.04
0.74
2010
 
92,714,361
0.905
102,430,962
349.1
1.87
0.74
2011
 
96,643,444
0.928
104,137,154
354.9
1.67
0.73
2012
 
99,732,847
0.945
105,499,447
359.5
1.31
0.72
2013
 
101,472,085
0.958
105,941,768
361.1
0.42
0.72
2014
 
103,442,732
0.971
106,509,130
363.0
0.54
0.70
2015
 
104,772,168
0.973
107,680,622
367.0
1.10
0.68
2016
 
106,355,488
0.983
108,212,413
368.8
0.49
0.67
2017
 
109,132,813
1.000
109,132,813
371.9
0.85
0.66
2018
 
111,917,844
1.020
109,672,841
373.8
0.49
0.64
2019
 
116,256,330
1.035
112,310,850
382.8
2.41
0.63
2020
 
125,760,516
1.046
120,189,722
409.6
7.02
0.64
2021
 
137,381,666
1.090
126,037,069
429.5
4.87
0.64
2022
 
136,330,235
1.160
117,482,515
400.4
-6.79
0.62
Source: Calculations by the Mississippi Regional Economic Analysis Project (MS-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_300_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
United States:
Total Personal Income, 1969-2022
 
1969
 
791,229,000
0.189
4,190,165,758
100.0
N
1970
 
855,525,000
0.198
4,328,265,709
103.3
3.30
1971
 
924,613,000
0.206
4,487,323,465
107.1
3.67
1972
 
1,016,408,000
0.213
4,770,076,966
113.8
6.30
1973
 
1,133,468,000
0.225
5,047,731,018
120.5
5.82
1974
 
1,244,912,000
0.248
5,021,223,733
119.8
-0.53
1975
 
1,362,505,000
0.269
5,072,617,275
121.1
1.02
1976
 
1,495,704,000
0.283
5,279,017,400
126.0
4.07
1977
 
1,651,632,000
0.302
5,473,329,799
130.6
3.68
1978
 
1,855,849,000
0.323
5,749,934,936
137.2
5.05
1979
 
2,073,296,000
0.351
5,899,598,782
140.8
2.60
1980
 
2,313,972,000
0.389
5,944,235,512
141.9
0.76
1981
 
2,590,995,000
0.424
6,108,676,176
145.8
2.77
1982
 
2,777,640,000
0.448
6,204,105,336
148.1
1.56
1983
 
2,969,333,000
0.467
6,361,584,112
151.8
2.54
1984
 
3,275,415,000
0.484
6,761,937,695
161.4
6.29
1985
 
3,508,482,000
0.501
6,999,046,441
167.0
3.51
1986
 
3,717,756,000
0.512
7,258,548,586
173.2
3.71
1987
 
3,931,800,000
0.528
7,446,308,852
177.7
2.59
1988
 
4,264,433,000
0.549
7,772,592,728
185.5
4.38
1989
 
4,605,107,000
0.573
8,042,309,775
191.9
3.47
1990
 
4,897,332,000
0.598
8,192,943,538
195.5
1.87
1991
 
5,072,291,000
0.618
8,211,045,100
196.0
0.22
1992
 
5,406,546,000
0.634
8,524,985,809
203.5
3.82
1993
 
5,643,648,000
0.650
8,682,535,385
207.2
1.85
1994
 
5,933,938,000
0.664
8,942,579,420
213.4
3.00
1995
 
6,278,125,000
0.678
9,266,058,093
221.1
3.62
1996
 
6,660,854,000
0.692
9,625,094,288
229.7
3.87
1997
 
7,068,422,000
0.704
10,039,373,926
239.6
4.30
1998
 
7,584,003,000
0.710
10,686,661,406
255.0
6.45
1999
 
7,978,449,000
0.720
11,081,025,264
264.5
3.69
2000
 
8,620,234,000
0.738
11,677,052,911
278.7
5.38
2001
 
8,990,104,000
0.753
11,938,732,039
284.9
2.24
2002
 
9,146,700,000
0.763
11,989,225,466
286.1
0.42
2003
 
9,474,684,000
0.779
12,163,560,736
290.3
1.45
2004
 
10,008,929,000
0.798
12,538,275,270
299.2
3.08
2005
 
10,540,800,000
0.821
12,834,755,927
306.3
2.36
2006
 
11,291,446,000
0.844
13,372,153,008
319.1
4.19
2007
 
11,925,044,000
0.866
13,769,145,681
328.6
2.97
2008
 
12,423,410,000
0.892
13,932,275,429
332.5
1.18
2009
 
12,058,253,000
0.889
13,560,635,845
323.6
-2.67
2010
 
12,547,501,000
0.905
13,862,497,514
330.8
2.23
2011
 
13,299,818,000
0.928
14,331,082,712
342.0
3.38
2012
 
13,905,749,000
0.945
14,709,785,897
351.1
2.64
2013
 
14,063,283,000
0.958
14,682,748,144
350.4
-0.18
2014
 
14,778,160,000
0.971
15,216,235,418
363.1
3.63
2015
 
15,467,113,000
0.973
15,896,476,839
379.4
4.47
2016
 
15,884,741,000
0.983
16,162,082,333
385.7
1.67
2017
 
16,658,962,000
1.000
16,658,962,000
397.6
3.07
2018
 
17,514,402,000
1.020
17,163,073,878
409.6
3.03
2019
 
18,343,601,000
1.035
17,721,060,157
422.9
3.25
2020
 
19,609,985,000
1.046
18,741,324,605
447.3
5.76
2021
 
21,392,812,000
1.090
19,626,252,970
468.4
4.72
2022
 
21,820,248,000
1.160
18,803,588,325
448.8
-4.19
Source: Calculations by the Mississippi Regional Economic Analysis Project (MS-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_300_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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