Marshall County vs. Alabama
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Marshall County vs. Alabama
Marshall County:
2022 TPI = $4,562,769K
2022 Percent of State = 1.77%
Alabama:
2022 TPI = $258,362,172K
2022 Percent of U.S. = 1.18%
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 Marshall County and Alabama 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.
Marshall County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Marshall County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Marshall 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 Marshall County over time.
When measured in current dollars, Marshall County's total personal income increased 2,670.57%, from $165M in 1970 to $4,563M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 371.92%, from $833M in 1970 to $3,932M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Marshall County's and Alabama'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, Marshall County's real total personal income rose from $813M in 1969 to $3,932M in 2022, for a net gain of $3,119M, or 383.39%. In comparison, Alabama's real total personal income advanced from $51,569M in 1969 to $222,643M in 2022, for a net advance of $171,075M, or 331.74%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Marshall County's real total 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 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.
Marshall County's overall real total personal income growth was 383.39% over 1969-2022 outpaced Alabama's increase of 331.74%, and topped the United States' increase of 348.76%.
Total Personal Income as a Percent of the Alabama Total: 1969-2022
Total Personal Income as a Percent of the Alabama Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total personal income growth of Marshall County is to compare its individual percentage contributions to Alabama'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 Alabama's total personal income, while a declining share shows it grew more slowly.
In 1969, Marshall County's total personal income comprised 1.58% of Alabama's total personal income, while in 2022 it totaled 1.77% thereby yielding a +0.19% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
+0.19%
=
1.77%
-
1.58%
 
   
Marshall County Real Total Personal Income:
Annual Percent Change, 1970-2022
Marshall County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of Marshall 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, Marshall County's real total personal income grew at an annual rate of 3.07% over 1970-2022. The county posted its highest growth in 1972 (10.67%) and recorded its lowest growth in 2022 (-3.76%). In 2022, Marshall County's real total personal income declined by -3.76%
Marshall County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Marshall 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 shows the annual percent change in Marshall 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, Marshall County's annual real total personal income growth rate averaged 4.95%. It averaged 3.26% during the 1980s, 3.03% during the 1990s, 2.22% during the 2000s, 1.69% in the 2010s, 3.66% 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 Marshall County noted in the previous graph with the corresponding decade averages for Alabama and the nation. As the chart reveals, Marshall County's average annual real total personal income growth registered above Alabama's average during the 1970s (4.95% vs. 4.53%), exceeded Alabama's average during the 1980s (3.26% vs. 2.80%), posted below Alabama's average in the 1990s (3.03% vs. 3.13%), topped Alabama's average during the 2000s (2.22% vs. 2.03%), amounted to less than Alabama's average throughout the 2010s (1.69% vs. 1.74%), and led Alabama's average over the 3 year period of the current decade, 2020-2022 (3.66% vs. 2.42%).
Finally, relative to nationwide real total personal income growth trends, Marshall County outpaced the nation in the 1970s (4.95% vs. 3.50%), outperformed the nation during the 1980s (3.26% vs. 3.16%), trailed the nation throughout the 1990s (3.03% vs. 3.27%), led the nation throughout the 2000s (2.22% vs. 2.06%), trailed the nation in the 2010s (1.69% vs. 2.72%), and registered above the nation over 2020-2022 (3.66% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
3.07
4.95
3.26
3.03
2.22
1.69
3.66
-3.76
 
2.82
4.53
2.80
3.13
2.03
1.74
2.42
-4.00
 
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.

   
 
Marshall County:
Total Personal Income, 1969-2022
 
1969
 
153,597
0.189
813,414
100.0
N
1.58
1970
 
164,687
0.198
833,183
102.4
2.43
1.55
1971
 
181,112
0.206
878,971
108.1
5.50
1.55
1972
 
207,269
0.213
972,729
119.6
10.67
1.59
1973
 
235,411
0.225
1,048,368
128.9
7.78
1.61
1974
 
253,182
0.248
1,021,183
125.5
-2.59
1.56
1975
 
295,284
0.269
1,099,345
135.2
7.65
1.63
1976
 
330,407
0.283
1,166,156
143.4
6.08
1.63
1977
 
360,423
0.302
1,194,403
146.8
2.42
1.61
1978
 
411,189
0.323
1,273,978
156.6
6.66
1.62
1979
 
460,572
0.351
1,310,565
161.1
2.87
1.64
1980
 
507,433
0.389
1,303,517
160.3
-0.54
1.63
1981
 
563,769
0.424
1,329,174
163.4
1.97
1.64
1982
 
586,862
0.448
1,310,808
161.1
-1.38
1.61
1983
 
639,940
0.467
1,371,026
168.6
4.59
1.64
1984
 
719,578
0.484
1,485,534
182.6
8.35
1.68
1985
 
774,947
0.501
1,545,936
190.1
4.07
1.68
1986
 
832,680
0.512
1,625,725
199.9
5.16
1.71
1987
 
861,728
0.528
1,631,999
200.6
0.39
1.67
1988
 
935,035
0.549
1,704,247
209.5
4.43
1.68
1989
 
1,030,028
0.573
1,798,830
221.1
5.55
1.71
1990
 
1,087,343
0.598
1,819,060
223.6
1.12
1.69
1991
 
1,165,438
0.618
1,886,616
231.9
3.71
1.71
1992
 
1,290,472
0.634
2,034,803
250.2
7.85
1.77
1993
 
1,387,818
0.650
2,135,105
262.5
4.93
1.82
1994
 
1,482,215
0.664
2,233,732
274.6
4.62
1.83
1995
 
1,605,091
0.678
2,368,998
291.2
6.06
1.88
1996
 
1,621,145
0.692
2,342,594
288.0
-1.11
1.82
1997
 
1,642,306
0.704
2,332,589
286.8
-0.43
1.75
1998
 
1,724,489
0.710
2,429,987
298.7
4.18
1.73
1999
 
1,739,230
0.720
2,415,564
297.0
-0.59
1.69
2000
 
1,801,980
0.738
2,440,980
300.1
1.05
1.67
2001
 
1,924,595
0.753
2,555,835
314.2
4.71
1.72
2002
 
1,949,058
0.763
2,554,768
314.1
-0.04
1.69
2003
 
2,065,008
0.779
2,651,049
325.9
3.77
1.72
2004
 
2,189,339
0.798
2,742,605
337.2
3.45
1.70
2005
 
2,295,876
0.821
2,795,519
343.7
1.93
1.69
2006
 
2,382,749
0.844
2,821,825
346.9
0.94
1.65
2007
 
2,518,875
0.866
2,908,397
357.6
3.07
1.66
2008
 
2,616,591
0.892
2,934,385
360.7
0.89
1.66
2009
 
2,672,673
0.889
3,005,671
369.5
2.43
1.72
2010
 
2,766,970
0.905
3,056,953
375.8
1.71
1.71
2011
 
2,786,450
0.928
3,002,511
369.1
-1.78
1.66
2012
 
2,906,939
0.945
3,075,020
378.0
2.41
1.69
2013
 
2,939,011
0.958
3,068,470
377.2
-0.21
1.69
2014
 
3,034,196
0.971
3,124,140
384.1
1.81
1.69
2015
 
3,232,578
0.973
3,322,314
408.4
6.34
1.72
2016
 
3,211,447
0.983
3,267,518
401.7
-1.65
1.68
2017
 
3,319,658
1.000
3,319,658
408.1
1.60
1.68
2018
 
3,449,773
1.020
3,380,573
415.6
1.83
1.68
2019
 
3,668,845
1.035
3,544,333
435.7
4.84
1.71
2020
 
4,019,939
1.046
3,841,868
472.3
8.39
1.74
2021
 
4,453,479
1.090
4,085,723
502.3
6.35
1.76
2022
 
4,562,769
1.160
3,931,964
483.4
-3.76
1.77
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_300_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 Personal Income, 1969-2022
 
1969
 
9,737,715
0.189
51,568,686
100.0
N
1.23
1970
 
10,628,318
0.198
53,770,707
104.3
4.27
1.24
1971
 
11,699,341
0.206
56,779,136
110.1
5.59
1.27
1972
 
12,999,098
0.213
61,005,716
118.3
7.44
1.28
1973
 
14,638,867
0.225
65,192,015
126.4
6.86
1.29
1974
 
16,241,055
0.248
65,506,615
127.0
0.48
1.30
1975
 
18,100,116
0.269
67,386,880
130.7
2.87
1.33
1976
 
20,324,056
0.283
71,732,806
139.1
6.45
1.36
1977
 
22,394,893
0.302
74,214,253
143.9
3.46
1.36
1978
 
25,339,922
0.323
78,510,107
152.2
5.79
1.37
1979
 
28,150,828
0.351
80,103,656
155.3
2.03
1.36
1980
 
31,044,372
0.389
79,748,181
154.6
-0.44
1.34
1981
 
34,454,169
0.424
81,231,095
157.5
1.86
1.33
1982
 
36,384,630
0.448
81,268,299
157.6
0.05
1.31
1983
 
38,978,846
0.467
83,509,397
161.9
2.76
1.31
1984
 
42,838,000
0.484
88,437,003
171.5
5.90
1.31
1985
 
46,085,821
0.501
91,936,285
178.3
3.96
1.31
1986
 
48,777,214
0.512
95,232,656
184.7
3.59
1.31
1987
 
51,514,370
0.528
97,561,399
189.2
2.45
1.31
1988
 
55,527,314
0.549
101,207,170
196.3
3.74
1.30
1989
 
60,350,959
0.573
105,396,271
204.4
4.14
1.31
1990
 
64,234,198
0.598
107,459,972
208.4
1.96
1.31
1991
 
67,982,455
0.618
110,050,272
213.4
2.41
1.34
1992
 
73,004,434
0.634
115,112,636
223.2
4.60
1.35
1993
 
76,346,081
0.650
117,455,509
227.8
2.04
1.35
1994
 
80,786,743
0.664
121,747,458
236.1
3.65
1.36
1995
 
85,393,841
0.678
126,035,129
244.4
3.52
1.36
1996
 
89,218,035
0.692
128,922,207
250.0
2.29
1.34
1997
 
93,851,877
0.704
133,299,071
258.5
3.39
1.33
1998
 
99,772,880
0.710
140,590,528
272.6
5.47
1.32
1999
 
103,204,055
0.720
143,336,974
278.0
1.95
1.29
2000
 
108,002,948
0.738
146,301,845
283.7
2.07
1.25
2001
 
111,894,150
0.753
148,593,862
288.1
1.57
1.24
2002
 
115,007,661
0.763
150,748,661
292.3
1.45
1.26
2003
 
120,241,006
0.779
154,364,914
299.3
2.40
1.27
2004
 
128,606,270
0.798
161,106,230
312.4
4.37
1.28
2005
 
136,087,503
0.821
165,703,731
321.3
2.85
1.29
2006
 
144,719,039
0.844
171,386,830
332.3
3.43
1.28
2007
 
151,942,557
0.866
175,439,118
340.2
2.36
1.27
2008
 
157,780,330
0.892
176,943,288
343.1
0.86
1.27
2009
 
155,666,922
0.889
175,062,046
339.5
-1.06
1.29
2010
 
162,068,839
0.905
179,053,891
347.2
2.28
1.29
2011
 
167,882,194
0.928
180,899,739
350.8
1.03
1.26
2012
 
172,101,458
0.945
182,052,445
353.0
0.64
1.24
2013
 
173,720,680
0.958
181,372,798
351.7
-0.37
1.24
2014
 
179,487,109
0.971
184,807,723
358.4
1.89
1.21
2015
 
187,474,744
0.973
192,679,004
373.6
4.26
1.21
2016
 
190,871,820
0.983
194,204,367
376.6
0.79
1.20
2017
 
197,963,769
1.000
197,963,769
383.9
1.94
1.19
2018
 
205,674,190
1.020
201,548,492
390.8
1.81
1.17
2019
 
215,165,840
1.035
207,863,592
403.1
3.13
1.17
2020
 
230,872,566
1.046
220,645,641
427.9
6.15
1.18
2021
 
252,791,890
1.090
231,917,037
449.7
5.11
1.18
2022
 
258,362,172
1.160
222,643,479
431.7
-4.00
1.18
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_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 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_300_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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