Lawrence County vs. Alabama
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Lawrence County vs. Alabama
Lawrence County:
2022 Earnings = $378,125K
2022 Percent of State = 0.23%
Alabama:
2022 Earnings = $166,356,184K
2022 Percent of U.S. = 1.09%
Industry earnings are incomes received by people who are directly involved with producing goods and services. Earnings, referred to also as "labor and proprietors income", include (1) wage and salary disbursements, (2) other labor income such as employer contributions to private retirement and medical insurance programs, and (3) the net incomes of proprietors (i.e., the owners of unincorporated enterprises).
In contrast to the more frequently cited employment data, earnings data more accurately reflect qualitative differences in labor's contributions toward the production of goods and services, namely the productivity differences reflected in variations in earnings per job. Earnings data, therefore, are better for comparing and tracking long-term trends and identifying short-run shifts in the level and composition of economic activity within and among counties.
Just like the employment data compiled by BEA, earnings data are reported on a place-of-work, or more accurately on a place-where-earned, basis.
Note: the BEA earnings data presented and discussed here in the context of comparing and assessing the economic growth and performance of county and regional economies are entirely separate and apart from--and should not be confused with--corporate earnings, which are compiled from the balance sheets of individual private corporations.
Lawrence County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Lawrence County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Lawrence County's annual total industry earnings 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 Lawrence County over time.
When measured in current dollars, Lawrence County's total industry earnings increased 957.87%, from $36M in 1970 to $378M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 80.19%, from $181M in 1970 to $326M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Lawrence County's and Alabama's annual real total industry earnings for the period 1969-2022 to illustrate real total industry earnings patterns over time. During this 54-year period, Lawrence County's real total industry earnings rose from $151M in 1969 to $326M in 2022, for a net gain of $175M, or 115.69%. In comparison, Alabama's real total industry earnings increased from $42,961M in 1969 to $143,357M in 2022, for a net advance of $100,397M, or 233.69%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Lawrence County's real total industry earnings 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 total industry earnings in 1969 as a base figure of 100, and the real total industry earningss in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real total industry earnings growth between regions that may differ vastly in size.
Lawrence County's overall real total industry earnings growth was 115.69% over 1969-2022 trailed Alabama's increase of 233.69%, and fell below the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the Alabama Total: 1969-2022
Total Industry Earnings as a Percent of the Alabama Total: 1969-2022
Figure 4.
Another interesting and insightful way of contrasting the total industry earnings growth of Lawrence County is to compare its individual percentage contributions to Alabama's statewide total industry earnings over time, as shown in Figure 4. A rising share means a region's total industry earnings grew faster, or declined less, than Alabama's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Lawrence County's total industry earnings comprised 0.35% of Alabama's total industry earnings, while in 2022 it equated to 0.23% thereby yielding a -0.12% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.12%
=
0.23%
-
0.35%
 
   
Lawrence County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Lawrence County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Lawrence County's real total industry earnings 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, Lawrence County's real total industry earnings grew at an annual rate of 1.93% over 1970-2022. The county recorded its highest growth in 1978 (21.52%) and recorded its lowest growth in 2015 (-25.49%). In 2022, Lawrence County's real total industry earnings declined by -2.07%
Lawrence County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Lawrence County Real Total Industry Earnings:
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 illustrates the annual percent change in Lawrence County's real total industry earnings 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, Lawrence County's annual real total industry earnings growth rate averaged 9.63%. It averaged -0.06% in the 1980s, 4.42% during the 1990s, -1.91% throughout the 2000s, -3.62% during the 2010s, 5.91% thus far this decade (2020-2022).
Real Total Industry Earnings Growth:
Average Annual Percent Change by Decade
Real Total Industry Earnings Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Lawrence County noted in the previous graph with the corresponding decade averages for Alabama and the nation. As the chart reveals, Lawrence County's average annual real total industry earnings growth outgained Alabama's average throughout the 1970s (9.63% vs. 3.98%), posted below Alabama's average throughout the 1980s (-0.06% vs. 2.17%), led Alabama's average in the 1990s (4.42% vs. 3.01%), lagged Alabama's average during the 2000s (-1.91% vs. 1.15%), trailed Alabama's average throughout the 2010s (-3.62% vs. 1.51%), and exceeded Alabama's average over the 3 year period of the current decade, 2020-2022 (5.91% vs. 1.75%).
Finally, relative to nationwide real total industry earnings growth trends, Lawrence County exceeded the nation throughout the 1970s (9.63% vs. 3.13%), fell below the nation over the 1980s (-0.06% vs. 2.62%), outperformed the nation during the 1990s (4.42% vs. 3.43%), lagged the nation in the 2000s (-1.91% vs. 1.47%), recorded underneath the nation during the 2010s (-3.62% vs. 2.53%), and exceeded the nation over 2020-2022 (5.91% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
1.93
9.63
-0.06
4.42
-1.91
-3.62
5.91
-2.07
 
2.33
3.98
2.17
3.01
1.15
1.51
1.75
0.26
 
2.57
3.13
2.62
3.43
1.47
2.53
1.48
0.05
 
   

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

   
 
Lawrence County:
Total Industry Earnings, 1969-2022
 
1969
 
28,527
0.189
151,072
100.0
N
0.35
1970
 
35,744
0.198
180,836
119.7
19.70
0.41
1971
 
37,567
0.206
182,320
120.7
0.82
0.40
1972
 
39,453
0.213
185,156
122.6
1.56
0.38
1973
 
48,913
0.225
217,827
144.2
17.65
0.41
1974
 
53,943
0.248
217,574
144.0
-0.12
0.42
1975
 
66,924
0.269
249,159
164.9
14.52
0.48
1976
 
69,840
0.283
246,497
163.2
-1.07
0.44
1977
 
77,721
0.302
257,559
170.5
4.49
0.44
1978
 
101,017
0.323
312,979
207.2
21.52
0.50
1979
 
128,915
0.351
366,830
242.8
17.21
0.58
1980
 
113,178
0.389
290,737
192.4
-20.74
0.48
1981
 
125,846
0.424
296,702
196.4
2.05
0.49
1982
 
140,647
0.448
314,148
207.9
5.88
0.53
1983
 
139,924
0.467
299,777
198.4
-4.57
0.49
1984
 
161,107
0.484
332,598
220.2
10.95
0.51
1985
 
170,254
0.501
339,639
224.8
2.12
0.50
1986
 
179,852
0.512
351,143
232.4
3.39
0.49
1987
 
178,316
0.528
337,707
223.5
-3.83
0.46
1988
 
187,095
0.549
341,010
225.7
0.98
0.45
1989
 
201,516
0.573
351,925
233.0
3.20
0.45
1990
 
246,459
0.598
412,311
272.9
17.16
0.52
1991
 
275,251
0.618
445,577
294.9
8.07
0.55
1992
 
292,304
0.634
460,902
305.1
3.44
0.54
1993
 
300,844
0.650
462,837
306.4
0.42
0.53
1994
 
279,717
0.664
421,540
279.0
-8.92
0.47
1995
 
273,919
0.678
404,285
267.6
-4.09
0.44
1996
 
302,833
0.692
437,601
289.7
8.24
0.47
1997
 
313,653
0.704
445,486
294.9
1.80
0.46
1998
 
356,073
0.710
501,744
332.1
12.63
0.49
1999
 
380,948
0.720
529,087
350.2
5.45
0.51
2000
 
342,269
0.738
463,641
306.9
-12.37
0.44
2001
 
338,354
0.753
449,329
297.4
-3.09
0.42
2002
 
295,841
0.763
387,780
256.7
-13.70
0.36
2003
 
328,008
0.779
421,095
278.7
8.59
0.38
2004
 
346,237
0.798
433,734
287.1
3.00
0.38
2005
 
356,652
0.821
434,269
287.5
0.12
0.37
2006
 
335,901
0.844
397,798
263.3
-8.40
0.33
2007
 
368,617
0.866
425,620
281.7
6.99
0.35
2008
 
382,741
0.892
429,226
284.1
0.85
0.36
2009
 
377,479
0.889
424,511
281.0
-1.10
0.36
2010
 
379,450
0.905
419,217
277.5
-1.25
0.35
2011
 
369,980
0.928
398,668
263.9
-4.90
0.34
2012
 
383,636
0.945
405,818
268.6
1.79
0.34
2013
 
428,072
0.958
446,928
295.8
10.13
0.37
2014
 
378,820
0.971
390,050
258.2
-12.73
0.32
2015
 
282,789
0.973
290,639
192.4
-25.49
0.23
2016
 
257,804
0.983
262,305
173.6
-9.75
0.21
2017
 
275,600
1.000
275,600
182.4
5.07
0.21
2018
 
283,178
1.020
277,498
183.7
0.69
0.21
2019
 
287,963
1.035
278,190
184.1
0.25
0.20
2020
 
288,321
1.046
275,549
182.4
-0.95
0.20
2021
 
362,704
1.090
332,753
220.3
20.76
0.23
2022
 
378,125
1.160
325,849
215.7
-2.07
0.23
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_1200_PSN
 
   

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

   
 
Alabama:
Total Industry Earnings, 1969-2022
 
1969
 
8,112,293
0.189
42,960,827
100.0
N
1.24
1970
 
8,628,530
0.198
43,653,395
101.6
1.61
1.24
1971
 
9,403,095
0.206
45,635,016
106.2
4.54
1.27
1972
 
10,496,269
0.213
49,259,757
114.7
7.94
1.28
1973
 
11,861,577
0.225
52,823,768
123.0
7.24
1.29
1974
 
12,960,825
0.248
52,276,146
121.7
-1.04
1.30
1975
 
14,045,483
0.269
52,291,448
121.7
0.03
1.33
1976
 
15,977,583
0.283
56,392,133
131.3
7.84
1.36
1977
 
17,715,705
0.302
58,707,930
136.7
4.11
1.36
1978
 
20,164,933
0.323
62,476,555
145.4
6.42
1.37
1979
 
22,203,571
0.351
63,180,636
147.1
1.13
1.35
1980
 
23,708,925
0.389
60,904,555
141.8
-3.60
1.33
1981
 
25,812,609
0.424
60,857,265
141.7
-0.08
1.32
1982
 
26,629,404
0.448
59,479,136
138.4
-2.26
1.30
1983
 
28,581,996
0.467
61,234,887
142.5
2.95
1.31
1984
 
31,634,478
0.484
65,307,868
152.0
6.65
1.30
1985
 
34,180,201
0.501
68,185,846
158.7
4.41
1.31
1986
 
36,335,700
0.512
70,941,838
165.1
4.04
1.30
1987
 
38,826,596
0.528
73,532,434
171.2
3.65
1.30
1988
 
41,972,545
0.549
76,501,495
178.1
4.04
1.29
1989
 
44,619,334
0.573
77,922,729
181.4
1.86
1.29
1990
 
47,432,666
0.598
79,352,013
184.7
1.83
1.29
1991
 
50,105,140
0.618
81,110,402
188.8
2.22
1.32
1992
 
53,808,914
0.634
84,845,339
197.5
4.60
1.33
1993
 
56,263,471
0.650
86,559,186
201.5
2.02
1.33
1994
 
59,265,224
0.664
89,314,039
207.9
3.18
1.33
1995
 
61,719,606
0.678
91,093,671
212.0
1.99
1.32
1996
 
64,433,868
0.692
93,108,490
216.7
2.21
1.30
1997
 
67,511,279
0.704
95,887,169
223.2
2.98
1.28
1998
 
72,164,908
0.710
101,687,979
236.7
6.05
1.26
1999
 
75,429,135
0.720
104,761,232
243.9
3.02
1.24
2000
 
77,978,535
0.738
105,630,483
245.9
0.83
1.18
2001
 
80,308,883
0.753
106,649,070
248.2
0.96
1.17
2002
 
82,624,721
0.763
108,302,055
252.1
1.55
1.18
2003
 
85,884,349
0.779
110,257,978
256.6
1.81
1.19
2004
 
91,540,120
0.798
114,673,131
266.9
4.00
1.19
2005
 
96,799,376
0.821
117,865,472
274.4
2.78
1.20
2006
 
102,208,900
0.844
121,043,226
281.8
2.70
1.20
2007
 
105,583,340
0.866
121,910,862
283.8
0.72
1.19
2008
 
106,202,564
0.892
119,101,227
277.2
-2.30
1.18
2009
 
104,241,969
0.889
117,229,866
272.9
-1.57
1.20
2010
 
107,113,941
0.905
118,339,639
275.5
0.95
1.19
2011
 
109,788,306
0.928
118,301,265
275.4
-0.03
1.16
2012
 
112,110,406
0.945
118,592,682
276.0
0.25
1.14
2013
 
115,358,203
0.958
120,439,548
280.3
1.56
1.13
2014
 
118,674,266
0.971
122,192,179
284.4
1.46
1.12
2015
 
122,547,294
0.973
125,949,181
293.2
3.07
1.11
2016
 
124,983,437
0.983
127,165,599
296.0
0.97
1.10
2017
 
129,741,033
1.000
129,741,033
302.0
2.03
1.10
2018
 
135,414,877
1.020
132,698,538
308.9
2.28
1.09
2019
 
140,884,484
1.035
136,103,179
316.8
2.57
1.08
2020
 
144,959,649
1.046
138,538,394
322.5
1.79
1.10
2021
 
155,852,509
1.090
142,982,641
332.8
3.21
1.09
2022
 
166,356,184
1.160
143,357,362
333.7
0.26
1.09
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_1200_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 Industry Earnings, 1969-2022
 
1969
 
653,665,000
0.189
3,461,658,635
100.0
N
1970
 
693,352,000
0.198
3,507,801,275
101.3
1.33
1971
 
742,094,000
0.206
3,601,523,902
104.0
2.67
1972
 
819,646,000
0.213
3,846,658,532
111.1
6.81
1973
 
918,964,000
0.225
4,092,469,383
118.2
6.39
1974
 
993,909,000
0.248
4,008,829,105
115.8
-2.04
1975
 
1,059,492,000
0.269
3,944,497,394
113.9
-1.60
1976
 
1,173,271,000
0.283
4,141,005,188
119.6
4.98
1977
 
1,303,767,000
0.302
4,320,542,816
124.8
4.34
1978
 
1,476,080,000
0.323
4,573,305,242
132.1
5.85
1979
 
1,648,363,000
0.351
4,690,444,754
135.5
2.56
1980
 
1,784,597,000
0.389
4,584,353,165
132.4
-2.26
1981
 
1,961,173,000
0.424
4,623,772,250
133.6
0.86
1982
 
2,053,729,000
0.448
4,587,185,902
132.5
-0.79
1983
 
2,188,018,000
0.467
4,687,672,466
135.4
2.19
1984
 
2,432,402,000
0.484
5,021,577,654
145.1
7.12
1985
 
2,615,791,000
0.501
5,218,223,348
150.7
3.92
1986
 
2,786,901,000
0.512
5,441,146,840
157.2
4.27
1987
 
2,996,000,000
0.528
5,674,027,499
163.9
4.28
1988
 
3,259,979,000
0.549
5,941,819,010
171.6
4.72
1989
 
3,467,027,000
0.573
6,054,778,994
174.9
1.90
1990
 
3,679,460,000
0.598
6,155,516,520
177.8
1.66
1991
 
3,789,428,000
0.618
6,134,341,309
177.2
-0.34
1992
 
4,059,023,000
0.634
6,400,225,481
184.9
4.33
1993
 
4,237,437,000
0.650
6,519,133,846
188.3
1.86
1994
 
4,456,948,000
0.664
6,716,721,924
194.0
3.03
1995
 
4,674,849,000
0.678
6,899,738,761
199.3
2.72
1996
 
4,956,180,000
0.692
7,161,799,344
206.9
3.80
1997
 
5,288,047,000
0.704
7,510,683,597
217.0
4.87
1998
 
5,707,014,000
0.710
8,041,785,619
232.3
7.07
1999
 
6,098,042,000
0.720
8,469,385,147
244.7
5.32
2000
 
6,598,743,000
0.738
8,938,721,519
258.2
5.54
2001
 
6,865,291,000
0.753
9,117,010,172
263.4
1.99
2002
 
7,001,002,000
0.763
9,176,707,606
265.1
0.65
2003
 
7,243,377,000
0.779
9,299,017,896
268.6
1.33
2004
 
7,674,785,000
0.798
9,614,272,113
277.7
3.39
2005
 
8,039,238,000
0.821
9,788,788,097
282.8
1.82
2006
 
8,519,349,000
0.844
10,089,233,775
291.5
3.07
2007
 
8,866,261,000
0.866
10,237,349,175
295.7
1.47
2008
 
9,014,085,000
0.892
10,108,876,304
292.0
-1.25
2009
 
8,688,913,000
0.889
9,771,497,172
282.3
-3.34
2010
 
9,023,916,000
0.905
9,969,635,637
288.0
2.03
2011
 
9,444,387,000
0.928
10,176,702,513
294.0
2.08
2012
 
9,854,834,000
0.945
10,424,645,101
301.1
2.44
2013
 
10,180,570,000
0.958
10,629,007,841
307.0
1.96
2014
 
10,613,874,000
0.971
10,928,505,678
315.7
2.82
2015
 
11,039,821,000
0.973
11,346,284,134
327.8
3.82
2016
 
11,311,477,000
0.983
11,508,970,941
332.5
1.43
2017
 
11,848,205,000
1.000
11,848,205,000
342.3
2.95
2018
 
12,438,590,000
1.020
12,189,079,542
352.1
2.88
2019
 
12,989,097,000
1.035
12,548,276,062
362.5
2.95
2020
 
13,158,025,000
1.046
12,575,166,053
363.3
0.21
2021
 
14,278,043,000
1.090
13,099,001,844
378.4
4.17
2022
 
15,207,952,000
1.160
13,105,445,395
378.6
0.05
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_1200_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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