Golden Triangle vs. Mississippi | Total Personal Income Trends over 1969-2022

Introduction

Golden Triangle:

2022 TPI = $7,605,216K

2022 Percent of State = 5.58%

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 Golden Triangle 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.

Golden Triangle Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)

Figure 1.

Figure 1 depicts Golden Triangle'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 Golden Triangle over time.

When measured in current dollars, Golden Triangle's total personal income increased 1,837.68%, from $392M in 1970 to $7,605M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 230.05%, from $1,986M in 1970 to $6,554M in 2022.

Real Total Personal Income, 1969-2022 (Millions)

Figure 2.

Figure 2 tracks Golden Triangle'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, Golden Triangle's real total personal income rose from $1,842M in 1969 to $6,554M in 2022, for a net gain of $4,711M, or 255.74%. In comparison, Mississippi's real total personal income increased from $29,342M in 1969 to $117,483M in 2022, for a net advance of $88,140M, or 300.39%.

Total Personal Income as a Percent of the Mississippi Total: 1969-2022

Figure 3.

Another interesting and insightful way of comparing the total personal income growth of Golden Triangle is to trace its individual percentage contributions to Mississippi's statewide total personal income over time, as shown in Figure 3. 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, Golden Triangle's total personal income totaled 6.28% of Mississippi's total personal income, while in 2022 it totaled 5.58% thereby yielding a -0.70% share-shift.

Total Personal Income Share-Shift

2022 vs. 1969

	Share- Shift*		2022	vs.	1969
Golden Triangle	-0.70%	=	5.58%	-	6.28%

*Percent figures may not add due to rounding by a factor of ± 0.01%.

Golden Triangle Real Total Personal Income:
Annual Percent Change, 1970-2022

Figure 4.

Figure 4 displays the short-run pattern of Golden Triangle'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, Golden Triangle's real total personal income grew at an annual rate of 2.47% over 1970-2022. Golden Triangle posted its highest growth in 1972 (9.46%) and recorded its lowest growth in 2022 (-7.48%). In 2022, Golden Triangle's real total personal income declined by -7.48%

Golden Triangle Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022

Figure 5.

Over the past five decades some planning and development districts have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 5 again shows the annual percent change in Golden Triangle's real total personal income since 1970, but this time they are overlayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.

During the 1970s, Golden Triangle's annual real total personal income growth rate averaged 5.06%. It averaged 2.02% during the 1980s, 2.65% during the 1990s, 1.63% throughout the 2000s, 1.30% throughout the 2010s, 1.46% thus far this decade (2020-2022).

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

Golden Triangle:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Statewide Total
1969	347,884	0.189	1,842,313	100.0	N	6.28
1970	392,491	0.198	1,985,688	107.8	7.78	6.46
1971	445,090	0.206	2,160,107	117.2	8.78	6.61
1972	503,834	0.213	2,364,530	128.3	9.46	6.56
1973	575,911	0.225	2,564,734	139.2	8.47	6.56
1974	622,829	0.248	2,512,116	136.4	-2.05	6.46
1975	662,864	0.269	2,467,848	134.0	-1.76	6.34
1976	759,668	0.283	2,681,213	145.5	8.65	6.40
1977	840,750	0.302	2,786,155	151.2	3.91	6.36
1978	919,713	0.323	2,849,526	154.7	2.27	6.25
1979	1,052,500	0.351	2,994,907	162.6	5.10	6.33
1980	1,142,824	0.389	2,935,738	159.4	-1.98	6.31
1981	1,300,255	0.424	3,065,555	166.4	4.42	6.40
1982	1,369,350	0.448	3,058,565	166.0	-0.23	6.38
1983	1,416,193	0.467	3,034,092	164.7	-0.80	6.31
1984	1,546,008	0.484	3,191,660	173.2	5.19	6.31
1985	1,636,377	0.501	3,264,397	177.2	2.28	6.34
1986	1,692,118	0.512	3,303,692	179.3	1.20	6.32
1987	1,778,648	0.528	3,368,524	182.8	1.96	6.29
1988	1,905,127	0.549	3,472,390	188.5	3.08	6.29
1989	2,088,169	0.573	3,646,756	197.9	5.02	6.38
1990	2,223,394	0.598	3,719,605	201.9	2.00	6.46
1991	2,272,717	0.618	3,679,083	199.7	-1.09	6.26
1992	2,415,840	0.634	3,809,272	206.8	3.54	6.19
1993	2,526,353	0.650	3,886,697	211.0	2.03	6.08
1994	2,683,566	0.664	4,044,195	219.5	4.05	5.97
1995	2,826,490	0.678	4,171,695	226.4	3.15	5.94
1996	2,991,416	0.692	4,322,668	234.6	3.62	5.93
1997	3,142,969	0.704	4,464,001	242.3	3.27	5.89
1998	3,279,291	0.710	4,620,867	250.8	3.51	5.80
1999	3,406,794	0.720	4,731,593	256.8	2.40	5.82
2000	3,564,333	0.738	4,828,280	262.1	2.04	5.79
2001	3,698,121	0.753	4,911,053	266.6	1.71	5.68
2002	3,757,678	0.763	4,925,454	267.4	0.29	5.67
2003	3,866,772	0.779	4,964,146	269.5	0.79	5.60
2004	4,122,708	0.798	5,164,553	280.3	4.04	5.64
2005	4,336,884	0.821	5,280,704	286.6	2.25	5.59
2006	4,608,912	0.844	5,458,209	296.3	3.36	5.70
2007	4,835,035	0.866	5,582,730	303.0	2.28	5.61
2008	5,068,761	0.892	5,684,379	308.5	1.82	5.59
2009	4,937,753	0.889	5,552,966	301.4	-2.31	5.52
2010	5,140,008	0.905	5,678,688	308.2	2.26	5.54
2011	5,431,724	0.928	5,852,899	317.7	3.07	5.62
2012	5,662,671	0.945	5,990,089	325.1	2.34	5.68
2013	5,760,100	0.958	6,013,823	326.4	0.40	5.68
2014	5,744,309	0.971	5,914,590	321.0	-1.65	5.55
2015	5,777,420	0.973	5,937,800	322.3	0.39	5.51
2016	5,935,754	0.983	6,039,390	327.8	1.71	5.58
2017	6,071,668	1.000	6,071,668	329.6	0.53	5.56
2018	6,193,466	1.020	6,069,229	329.4	-0.04	5.53
2019	6,535,220	1.035	6,313,429	342.7	4.02	5.62
2020	7,057,044	1.046	6,744,439	366.1	6.83	5.61
2021	7,720,916	1.090	7,083,344	384.5	5.02	5.62
2022	7,605,216	1.160	6,553,791	355.7	-7.48	5.58

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

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 Table Tip: 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


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Nationwide Total
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

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

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 Table Tip: 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


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change
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

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

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

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