Monroe County vs. Alabama
Comparative Trends Analysis:
Per Capita Personal Income Growth and Change, 1969-2022
Introduction
Monroe County vs. Alabama
Monroe County:
2022 PCI = $41,177
2022 Percent of State = 80.87%
Alabama:
2022 PCI = $50,916
Per Capita Income (PCI) is one of the most widely used indicators for gauging the economic performance and changing fortunes of local economies. It is used as a yardstick to assess the economic well being of a region's residents and the quality of consumer markets. It serves as a barometer for calibrating the economic performance of a region over time and to judge differences in relative economic prosperity between regions. Shifting trends in local per capita income growth have important social and political ramifications and significant implications in formulating local economic development strategies and initiatives.
Data Definition:
This measure of income is calculated as the total personal income of the residents of an area divided by the population of the area. Per capita personal income is often used as an indicator of consumers' purchasing power and of the economic well-being of the residents of an area.
Personal income is measured as a flow throughout the year, while the measurement of population is at one point in mid-year. Therefore, per capita income is distorted if a significant change in population occurs during the year.
For smaller counties in particular, per capita income in any given year may be exceptionally high or low for the short run because of unusual local conditions, such as a bumper crop, a catastrophe, or a major construction project as the building of a dam or nuclear power plant.
Farm incomes are notorious for being especially volatile year-to-year, owing to changing weather, commodity market conditions, and alterations in government programs. Therefore, the per capita income of farm-dependent counties may exhibit sharp fluctuations over time.
The presence of large institutional populations--such as residents attending a local college or the residents of a local prison or state mental institution--can significantly lower the per capita income estimates of an area. Such results may not reflect the relative economic well being of the non-institutional population and may mislead if care is not given to their interpretation.
Monroe County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Monroe County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Monroe County's annual per capita 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 Monroe County over time.
When measured in current dollars, Monroe County's per capita personal income increased 1,670.82%, from $2,325 in 1970 to $41,177 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 201.63%, from $11,764 in 1970 to $35,484 in 2022.
Real Per Capita Personal Income, 1969-2022
Real Per Capita Personal Income, 1969-2022
Figure 2.
Figure 2 traces Monroe County's and Alabama's annual real per capita personal income for the period 1969-2022 to illustrate real per capita personal income patterns over time. During this 54-year period, Monroe County's real per capita personal income rose from $10,693 in 1969 to $35,484 in 2022, for a net gain of $24,791, or 231.84%. In comparison, Alabama's real per capita personal income increased from $14,991 in 1969 to $43,877 in 2022, for a net gain of $28,886, or 192.69%.
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Monroe County's real per capita personal income growth in a broader context by offering direct comparisons across time with Alabama, the United States. The growth indices shown here express each region's real per capita personal income in 1969 as a base figure of 100, and the real per capita personal incomes in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real per capita personal income growth between regions that may differ vastly in size.
Monroe County's overall real per capita personal income growth was 231.84% over 1969-2022 outpaced Alabama's increase of 192.69%, and outpaced the United States' increase of 171.04%.
Per Capita Personal Income as a Percent of the U.S. Average: 1969-2022
Per Capita Personal Income as a Percent of the U.S. Average: 1969-2022
Figure 4.
Figure 4 portrays the trends for per capita personal income relative to the national average by tracing Monroe County and Alabama per capita personal income as a percent of the national average over 1969-2022.
In 1969, Monroe County's per capita personal income amounted to 51.37% of the national average; in 2022, it approximated 62.89%. Similarly, in 1969, Alabama's per capita personal income totaled 72.02% of the national average; in 2022, it consisted of 77.77%.
Monroe County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Monroe County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of Monroe County's real per capita 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 illustrated 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, Monroe County's real per capita personal income grew at an annual rate of 2.39% over 1970-2022. The county posted its highest growth in 1978 (21.44%) and posted its lowest growth in 1980 (-8.30%). In 2022, Monroe County's real per capita personal income declined by -8.14%
Monroe County Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Monroe County Real Per Capita 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 Monroe County's real per capita 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, Monroe County's annual real per capita personal income growth rate averaged 5.31%. It averaged 1.70% in the 1980s, 2.59% throughout the 1990s, 1.14% in the 2000s, 1.43% in the 2010s, 1.66% thus far this decade (2020-2022).
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Monroe County noted in the previous graph with the corresponding decade averages for Alabama and the nation. As the chart reveals, Monroe County's average annual real per capita personal income growth topped Alabama's average throughout the 1970s (5.31% vs. 3.30%), lagged Alabama's average during the 1980s (1.70% vs. 2.38%), outperformed Alabama's average during the 1990s (2.59% vs. 2.16%), trailed Alabama's average in the 2000s (1.14% vs. 1.30%), outperformed Alabama's average during the 2010s (1.43% vs. 1.23%), and lagged Alabama's average over the 3 year period of the current decade, 2020-2022 (1.66% vs. 1.94%).
Finally, relative to nationwide real per capita personal income growth trends, Monroe County outgained the nation throughout the 1970s (5.31% vs. 2.37%), fell below the nation over the 1980s (1.70% vs. 2.19%), registered above the nation in the 1990s (2.59% vs. 2.01%), outgained the nation throughout the 2000s (1.14% vs. 1.10%), posted below the nation in the 2010s (1.43% vs. 1.97%), and fell below the nation over 2020-2022 (1.66% vs. 1.78%).
   
 
Real* Per Capita Personal Income Growth:
Average Annual Percent Change
 
 
 
2.39
5.31
1.70
2.59
1.14
1.43
1.66
-8.14
 
2.07
3.30
2.38
2.16
1.30
1.23
1.94
-4.46
 
1.92
2.37
2.19
2.01
1.10
1.97
1.78
-4.55
 
   

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

   
 
Monroe County:
Per Capita Personal Income, 1969-2022
 
1969
 
2,019
0.189
10,693
100.0
N
71.33
51.37
1970
 
2,325
0.198
11,764
110.0
10.02
75.48
55.39
1971
 
2,466
0.206
11,967
111.9
1.72
73.71
55.15
1972
 
2,705
0.213
12,696
118.7
6.10
73.68
55.70
1973
 
3,077
0.225
13,703
128.1
7.93
75.27
57.37
1974
 
3,418
0.248
13,788
128.9
0.62
76.36
58.58
1975
 
3,607
0.269
13,430
125.6
-2.59
73.35
57.04
1976
 
4,134
0.283
14,592
136.5
8.65
76.02
60.14
1977
 
4,465
0.302
14,795
138.4
1.39
75.41
59.41
1978
 
5,799
0.323
17,968
168.0
21.44
87.75
69.40
1979
 
6,175
0.351
17,572
164.3
-2.20
84.88
66.89
1980
 
6,273
0.389
16,113
150.7
-8.30
78.81
61.59
1981
 
7,059
0.424
16,643
155.6
3.29
80.28
62.52
1982
 
7,404
0.448
16,537
154.7
-0.64
79.88
61.75
1983
 
8,226
0.467
17,624
164.8
6.57
83.03
64.77
1984
 
8,696
0.484
17,952
167.9
1.86
80.22
62.61
1985
 
9,161
0.501
18,274
170.9
1.79
78.96
62.12
1986
 
9,596
0.512
18,734
175.2
2.52
78.52
61.98
1987
 
10,109
0.528
19,145
179.0
2.19
78.80
62.30
1988
 
10,786
0.549
19,659
183.8
2.68
78.16
61.84
1989
 
11,818
0.573
20,638
193.0
4.98
78.92
63.34
1990
 
13,141
0.598
21,985
205.6
6.53
82.86
66.98
1991
 
14,742
0.618
23,865
223.2
8.55
88.89
73.53
1992
 
14,824
0.634
23,374
218.6
-2.06
84.35
70.33
1993
 
15,009
0.650
23,091
215.9
-1.21
82.85
69.12
1994
 
15,871
0.664
23,918
223.7
3.58
83.70
70.38
1995
 
16,399
0.678
24,204
226.3
1.19
82.52
69.55
1996
 
17,202
0.692
24,857
232.5
2.70
83.51
69.57
1997
 
18,085
0.704
25,686
240.2
3.34
84.17
69.76
1998
 
18,688
0.710
26,333
246.3
2.52
82.50
67.97
1999
 
19,106
0.720
26,536
248.2
0.77
82.01
66.82
2000
 
19,417
0.738
26,302
246.0
-0.88
80.04
63.56
2001
 
20,292
0.753
26,948
252.0
2.46
81.02
64.32
2002
 
19,981
0.763
26,190
244.9
-2.81
77.83
62.83
2003
 
21,150
0.779
27,152
253.9
3.67
79.21
64.76
2004
 
23,157
0.798
29,009
271.3
6.84
81.58
67.75
2005
 
23,941
0.821
29,151
272.6
0.49
80.39
67.12
2006
 
24,576
0.844
29,105
272.2
-0.16
78.61
64.94
2007
 
25,639
0.866
29,604
276.9
1.71
78.85
64.77
2008
 
27,251
0.892
30,561
285.8
3.23
81.49
66.70
2009
 
26,316
0.889
29,595
276.8
-3.16
80.44
66.95
2010
 
27,298
0.905
30,159
282.0
1.91
80.65
67.31
2011
 
27,400
0.928
29,525
276.1
-2.10
78.54
64.25
2012
 
27,559
0.945
29,152
272.6
-1.26
77.49
62.30
2013
 
28,734
0.958
29,999
280.5
2.91
80.46
64.71
2014
 
29,941
0.971
30,829
288.3
2.76
81.52
64.69
2015
 
31,537
0.973
32,412
303.1
5.14
82.57
65.62
2016
 
31,965
0.983
32,523
304.1
0.34
82.57
65.27
2017
 
32,726
1.000
32,726
306.1
0.63
81.87
64.16
2018
 
33,698
1.020
33,022
308.8
0.90
81.53
63.21
2019
 
35,229
1.035
34,033
318.3
3.06
81.92
63.42
2020
 
38,727
1.046
37,012
346.1
8.75
84.40
65.47
2021
 
42,105
1.090
38,628
361.2
4.37
84.11
65.35
2022
 
41,177
1.160
35,484
331.8
-8.14
80.87
62.89
Source: Calculations by the Alabama Regional Economic Analysis Project (AL-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_PSN
 
   

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

   
 
Alabama:
Per Capita Personal Income, 1969-2022
 
1969
 
2,831
0.189
14,991
100.0
N
72.02
1970
 
3,081
0.198
15,586
104.0
3.97
73.39
1971
 
3,345
0.206
16,234
108.3
4.16
74.82
1972
 
3,672
0.213
17,233
115.0
6.15
75.60
1973
 
4,088
0.225
18,206
121.4
5.65
76.23
1974
 
4,477
0.248
18,057
120.5
-0.82
76.72
1975
 
4,918
0.269
18,309
122.1
1.40
77.77
1976
 
5,438
0.283
19,194
128.0
4.84
79.10
1977
 
5,920
0.302
19,619
130.9
2.21
78.77
1978
 
6,609
0.323
20,477
136.6
4.37
79.09
1979
 
7,275
0.351
20,702
138.1
1.10
78.80
1980
 
7,959
0.389
20,446
136.4
-1.23
78.16
1981
 
8,793
0.424
20,730
138.3
1.39
77.87
1982
 
9,269
0.448
20,704
138.1
-0.13
77.31
1983
 
9,908
0.467
21,227
141.6
2.53
78.01
1984
 
10,840
0.484
22,379
149.3
5.43
78.05
1985
 
11,601
0.501
23,143
154.4
3.42
78.67
1986
 
12,220
0.512
23,858
159.2
3.09
78.93
1987
 
12,830
0.528
24,298
162.1
1.84
79.06
1988
 
13,800
0.549
25,152
167.8
3.52
79.12
1989
 
14,975
0.573
26,151
174.4
3.97
80.26
1990
 
15,860
0.598
26,533
177.0
1.46
80.84
1991
 
16,585
0.618
26,847
179.1
1.18
82.72
1992
 
17,574
0.634
27,711
184.9
3.22
83.38
1993
 
18,116
0.650
27,871
185.9
0.58
83.44
1994
 
18,963
0.664
28,578
190.6
2.53
84.09
1995
 
19,874
0.678
29,332
195.7
2.64
84.29
1996
 
20,599
0.692
29,767
198.6
1.48
83.31
1997
 
21,487
0.704
30,518
203.6
2.52
82.88
1998
 
22,651
0.710
31,918
212.9
4.59
82.39
1999
 
23,296
0.720
32,355
215.8
1.37
81.48
2000
 
24,258
0.738
32,861
219.2
1.56
79.40
2001
 
25,046
0.753
33,260
221.9
1.22
79.39
2002
 
25,671
0.763
33,649
224.5
1.17
80.72
2003
 
26,700
0.779
34,277
228.7
1.87
81.75
2004
 
28,385
0.798
35,559
237.2
3.74
83.04
2005
 
29,780
0.821
36,261
241.9
1.97
83.49
2006
 
31,264
0.844
37,025
247.0
2.11
82.62
2007
 
32,516
0.866
37,544
250.4
1.40
82.14
2008
 
33,441
0.892
37,502
250.2
-0.11
81.85
2009
 
32,717
0.889
36,794
245.4
-1.89
83.24
2010
 
33,849
0.905
37,396
249.5
1.64
83.46
2011
 
34,887
0.928
37,592
250.8
0.52
81.80
2012
 
35,564
0.945
37,620
251.0
0.07
80.39
2013
 
35,713
0.958
37,286
248.7
-0.89
80.43
2014
 
36,729
0.971
37,818
252.3
1.43
79.35
2015
 
38,197
0.973
39,257
261.9
3.81
79.48
2016
 
38,712
0.983
39,388
262.7
0.33
79.05
2017
 
39,975
1.000
39,975
266.7
1.49
78.38
2018
 
41,330
1.020
40,501
270.2
1.32
77.53
2019
 
43,004
1.035
41,544
277.1
2.58
77.42
2020
 
45,887
1.046
43,854
292.5
5.56
77.57
2021
 
50,059
1.090
45,926
306.4
4.72
77.70
2022
 
50,916
1.160
43,877
292.7
-4.46
77.77
Source: Calculations by the Alabama Regional Economic Analysis Project (AL-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_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:
Per Capita Personal Income, 1969-2022
 
1969
 
3,931
0.189
20,816
100.0
N
1970
 
4,198
0.198
21,238
102.0
2.03
1971
 
4,471
0.206
21,697
104.2
2.16
1972
 
4,857
0.213
22,793
109.5
5.05
1973
 
5,363
0.225
23,883
114.7
4.78
1974
 
5,836
0.248
23,537
113.1
-1.45
1975
 
6,324
0.269
23,544
113.1
0.03
1976
 
6,875
0.283
24,265
116.6
3.07
1977
 
7,516
0.302
24,906
119.6
2.64
1978
 
8,356
0.323
25,889
124.4
3.95
1979
 
9,232
0.351
26,271
126.2
1.47
1980
 
10,184
0.389
26,160
125.7
-0.42
1981
 
11,291
0.424
26,621
127.9
1.76
1982
 
11,990
0.448
26,781
128.7
0.60
1983
 
12,701
0.467
27,210
130.7
1.61
1984
 
13,889
0.484
28,674
137.7
5.38
1985
 
14,746
0.501
29,417
141.3
2.59
1986
 
15,482
0.512
30,227
145.2
2.75
1987
 
16,228
0.528
30,733
147.6
1.67
1988
 
17,442
0.549
31,790
152.7
3.44
1989
 
18,658
0.573
32,584
156.5
2.50
1990
 
19,619
0.598
32,821
157.7
0.73
1991
 
20,050
0.618
32,457
155.9
-1.11
1992
 
21,077
0.634
33,234
159.7
2.39
1993
 
21,713
0.650
33,405
160.5
0.51
1994
 
22,552
0.664
33,986
163.3
1.74
1995
 
23,577
0.678
34,798
167.2
2.39
1996
 
24,725
0.692
35,729
171.6
2.67
1997
 
25,925
0.704
36,822
176.9
3.06
1998
 
27,493
0.710
38,740
186.1
5.21
1999
 
28,592
0.720
39,711
190.8
2.51
2000
 
30,551
0.738
41,384
198.8
4.21
2001
 
31,548
0.753
41,895
201.3
1.23
2002
 
31,801
0.763
41,684
200.2
-0.50
2003
 
32,659
0.779
41,928
201.4
0.59
2004
 
34,183
0.798
42,821
205.7
2.13
2005
 
35,669
0.821
43,432
208.6
1.43
2006
 
37,843
0.844
44,816
215.3
3.19
2007
 
39,588
0.866
45,710
219.6
1.99
2008
 
40,854
0.892
45,816
220.1
0.23
2009
 
39,307
0.889
44,204
212.4
-3.52
2010
 
40,557
0.905
44,808
215.3
1.36
2011
 
42,649
0.928
45,956
220.8
2.56
2012
 
44,237
0.945
46,795
224.8
1.83
2013
 
44,401
0.958
46,357
222.7
-0.94
2014
 
46,287
0.971
47,659
229.0
2.81
2015
 
48,060
0.973
49,394
237.3
3.64
2016
 
48,971
0.983
49,826
239.4
0.88
2017
 
51,004
1.000
51,004
245.0
2.36
2018
 
53,309
1.020
52,240
251.0
2.42
2019
 
55,547
1.035
53,662
257.8
2.72
2020
 
59,153
1.046
56,533
271.6
5.35
2021
 
64,430
1.090
59,110
284.0
4.56
2022
 
65,470
1.160
56,419
271.0
-4.55
Source: Calculations by the Alabama Regional Economic Analysis Project (AL-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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