Olmsted County vs. Minnesota
Comparative Trends Analysis:
Average Earnings Per Job Growth and Change, 1969-2022
Introduction
Olmsted County vs. Minnesota
Olmsted County:
2022 Avg. Earnings = $77,737
2022 Percent of State = 106.31%
Minnesota:
2022 Avg. Earnings = $73,123
The United States economy has generated an impressive number of jobs since the 1970s. The contrast between the nation's vigorous employment growth and the modest performance of other major industrial countries is striking. Despite this rosy track record, the real (inflation adjusted) wages and salaries of many workers have stagnated or slipped in recent years. This development has provoked concerns about the quality of new jobs. Structural shifts in the composition of employment--from high-wage goods-producing to low-wage services-related sectors--is the culprit most often cited for the deteriorating quality of jobs.
Regions vary greatly in the make-up of their labor force, in their industry composition of employment, and their economic experience. Reviewing and examining recent developments in average earnings per job in Olmsted County with comparisons to Minnesota and the nation is an important first step in understanding the economic forces at play in Olmsted County.
Discussion: Average Annual Earnings Per Job are computed by dividing BEA total industry earnings estimates by the BEA total full- and part-time jobs estimates. No convenient or adequate means exist at the county or regional level for converting the job estimates to a full-time equivalent measure. So, interpret the average earnings per job estimates with caution in consideration of the following issues:
Average earnings per job within industries involving more part-time work is lower than industries involving more full-time work, although there could be little difference in the underlying wage of full-time workers. Such differences could also prevail between counties and regions. An increase in the proportion of part-time jobs over time may erode average earnings per job estimates, although full-time earnings per worker may have remained unchanged.
As with per capita income, average earnings per job may be subject to extreme short-run variation, especially in smaller counties. Major construction projects relating to building dams, nuclear power plants, and private plant construction projects have caused extreme fluctuations in many smaller counties. Such changes typify both small and large agriculture-dependent counties owing to the extreme annual variations in farm incomes. Also, Since average earnings per job are just a simple average, it does not account for variations in the distribution of earnings among high- vs. low-wage jobs.
Olmsted County Average Earnings Per Job, 1970-2022
Current vs. Constant Dollars
Olmsted County Average Earnings Per Job, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Olmsted County's annual average earnings per job 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 Olmsted County over time.
When measured in current dollars, Olmsted County's average earnings per job increased 889.79%, from $7,854 in 1970 to $77,737 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 68.59%, from $39,735 in 1970 to $66,990 in 2022.
Real Average Earnings Per Job, 1969-2022
Real Average Earnings Per Job, 1969-2022
Figure 2.
Figure 2 tracks Olmsted County's and Minnesota's annual real average earnings per job for the period 1969-2022 to illustrate real average earnings per job patterns over time. During this 54-year period, Olmsted County's real average earnings per job rose from $39,045 in 1969 to $66,990 in 2022, for a net gain of $27,945, or 71.57%. In comparison, Minnesota's real average earnings per job increased from $37,247 in 1969 to $63,013 in 2022, for a net advance of $25,767, or 69.18%.
Real Average Earnings Per Job Indices (1969=100): 1969-2022
Real Average Earnings Per Job Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Olmsted County's real average earnings per job growth in a broader context by offering direct comparisons across time with Minnesota, the United States. The growth indices shown here express each region's real average earnings per job in 1969 as a base figure of 100, and the real average earnings per jobs in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real average earnings per job growth between regions that may differ vastly in size.
Olmsted County's overall real average earnings per job growth was 71.57% over 1969-2022 outpaced Minnesota's increase of 69.18%, and outpaced the United States' increase of 62.26%.
Average Earnings Per Job as a Percent of the U.S. Average: 1969-2022
Average Earnings Per Job as a Percent of the U.S. Average: 1969-2022
Figure 4.
Figure 4 displays the trends for average earnings per job relative to the national average by tracing Olmsted County and Minnesota average earnings per job as a percent of the national average over 1969-2022.
In 1969, Olmsted County's average earnings per job amounted to 102.70% of the national average; in 2022, it approximated 108.59%. Similarly, in 1969, Minnesota's average earnings per job totaled 97.97% of the national average; in 2022, it consisted of 102.15%.
Olmsted County Real Average Earnings Per Job:
Annual Percent Change, 1970-2022
Olmsted County Real Average Earnings Per Job:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Olmsted County's real average earnings per job 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, Olmsted County's real average earnings per job grew at an annual rate of 1.06% over 1970-2022. The county recorded its highest growth in 2010 (6.73%) and posted its lowest growth in 1974 (-7.54%). In 2022, Olmsted County's real average earnings per job declined by -3.26%
Olmsted County Real Average Earnings Per Job:
Annual Percent Change and Decade Averages Over 1970-2022
Olmsted County Real Average Earnings Per Job:
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 traces the annual percent change in Olmsted County's real average earnings per job 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, Olmsted County's annual real average earnings per job growth rate averaged 0.48%. It averaged 1.08% during the 1980s, 1.56% during the 1990s, 1.16% in the 2000s, 1.32% in the 2010s, -0.03% thus far this decade (2020-2022).
Real Average Earnings Per Job Growth:
Average Annual Percent Change by Decade
Real Average Earnings Per Job Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Olmsted County noted in the previous graph with the corresponding decade averages for Minnesota and the nation. As the chart reveals, Olmsted County's average annual real average earnings per job growth lagged Minnesota's average during the 1970s (0.48% vs. 0.59%), exceeded Minnesota's average in the 1980s (1.08% vs. 0.78%), amounted to less than Minnesota's average throughout the 1990s (1.56% vs. 1.70%), outgained Minnesota's average throughout the 2000s (1.16% vs. 0.69%), lagged Minnesota's average in the 2010s (1.32% vs. 1.42%), and recorded under Minnesota's average over the 3 year period of the current decade, 2020-2022 (-0.03% vs. 0.90%).
Finally, relative to nationwide real average earnings per job growth trends, Olmsted County trailed the nation over the 1970s (0.48% vs. 0.89%), registered above the nation during the 1980s (1.08% vs. 0.71%), posted below the nation over the 1990s (1.56% vs. 1.68%), led the nation in the 2000s (1.16% vs. 0.72%), surpassed the nation throughout the 2010s (1.32% vs. 1.01%), and topped the nation over 2020-2022 (-0.03% vs. -0.24%).
   
 
Real* Average Earnings Per Job Growth:
Average Annual Percent Change
 
 
 
1.06
0.48
1.08
1.56
1.16
1.32
-0.03
-3.26
 
1.03
0.59
0.78
1.70
0.69
1.42
0.90
-3.22
 
0.93
0.89
0.71
1.68
0.72
1.01
-0.24
-4.51
 
   

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

   
 
Olmsted County:
Average Earnings Per Job, 1969-2022
 
1969
 
7,373
0.189
39,045
100.0
N
104.83
102.70
1970
 
7,854
0.198
39,735
101.8
1.77
104.16
103.39
1971
 
8,258
0.206
40,076
102.6
0.86
104.19
101.91
1972
 
8,580
0.213
40,266
103.1
0.47
103.50
98.72
1973
 
9,223
0.225
41,072
105.2
2.00
98.76
98.78
1974
 
9,415
0.248
37,974
97.3
-7.54
97.61
94.83
1975
 
10,378
0.269
38,636
99.0
1.74
101.83
96.87
1976
 
11,151
0.283
39,356
100.8
1.86
103.79
96.55
1977
 
12,256
0.302
40,616
104.0
3.20
103.22
98.75
1978
 
13,485
0.323
41,781
107.0
2.87
104.31
100.21
1979
 
14,322
0.351
40,753
104.4
-2.46
103.76
98.31
1980
 
15,431
0.389
39,640
101.5
-2.73
105.25
98.56
1981
 
16,810
0.424
39,633
101.5
-0.02
105.25
98.50
1982
 
18,385
0.448
41,064
105.2
3.61
109.05
102.20
1983
 
19,116
0.467
40,955
104.9
-0.26
109.32
101.04
1984
 
20,939
0.484
43,228
110.7
5.55
108.41
103.76
1985
 
21,834
0.501
43,557
111.6
0.76
108.72
103.33
1986
 
23,019
0.512
44,942
115.1
3.18
108.93
104.26
1987
 
23,900
0.528
45,263
115.9
0.71
108.15
103.34
1988
 
24,568
0.549
44,779
114.7
-1.07
107.60
100.66
1989
 
25,924
0.573
45,274
116.0
1.11
107.03
101.83
1990
 
27,453
0.598
45,927
117.6
1.44
109.06
103.21
1991
 
28,282
0.618
45,783
117.3
-0.32
109.83
102.71
1992
 
29,671
0.634
46,785
119.8
2.19
107.85
101.00
1993
 
30,114
0.650
46,329
118.7
-0.98
108.53
100.04
1994
 
30,846
0.664
46,486
119.1
0.34
106.68
99.80
1995
 
31,195
0.678
46,042
117.9
-0.95
106.35
98.70
1996
 
33,098
0.692
47,828
122.5
3.88
106.22
100.88
1997
 
33,765
0.704
47,958
122.8
0.27
104.32
98.68
1998
 
36,083
0.710
50,845
130.2
6.02
104.43
100.20
1999
 
37,967
0.720
52,731
135.1
3.71
105.60
100.57
2000
 
39,077
0.738
52,935
135.6
0.39
102.61
97.93
2001
 
41,722
0.753
55,406
141.9
4.67
106.06
100.59
2002
 
43,122
0.763
56,524
144.8
2.02
106.54
101.69
2003
 
45,356
0.779
58,228
149.1
3.01
107.59
103.89
2004
 
46,936
0.798
58,797
150.6
0.98
105.43
103.26
2005
 
47,267
0.821
57,553
147.4
-2.12
105.22
101.33
2006
 
48,135
0.844
57,005
146.0
-0.95
105.46
99.37
2007
 
49,863
0.866
57,574
147.5
1.00
105.62
100.97
2008
 
51,436
0.892
57,684
147.7
0.19
105.48
102.26
2009
 
52,556
0.889
59,104
151.4
2.46
110.70
105.03
2010
 
57,098
0.905
63,082
161.6
6.73
114.77
109.40
2011
 
55,725
0.928
60,046
153.8
-4.81
107.70
103.90
2012
 
56,974
0.945
60,269
154.4
0.37
105.42
103.47
2013
 
58,149
0.958
60,710
155.5
0.73
106.37
104.14
2014
 
58,848
0.971
60,593
155.2
-0.19
105.28
103.26
2015
 
60,313
0.973
61,987
158.8
2.30
105.18
103.98
2016
 
61,723
0.983
62,801
160.8
1.31
106.88
105.55
2017
 
64,123
1.000
64,123
164.2
2.10
107.23
106.29
2018
 
67,978
1.020
66,615
170.6
3.89
110.08
109.46
2019
 
69,491
1.035
67,133
171.9
0.78
109.25
107.87
2020
 
73,039
1.046
69,804
178.8
3.98
107.85
108.40
2021
 
75,479
1.090
69,246
177.3
-0.80
106.35
107.18
2022
 
77,737
1.160
66,990
171.6
-3.26
106.31
108.59
Source: Calculations by the Minnesota Regional Economic Analysis Project (MN-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_PSN
 
   

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

   
 
Minnesota:
Average Earnings Per Job, 1969-2022
 
1969
 
7,033
0.189
37,247
100.0
N
97.97
1970
 
7,540
0.198
38,147
102.4
2.42
99.26
1971
 
7,925
0.206
38,463
103.3
0.83
97.80
1972
 
8,289
0.213
38,903
104.4
1.14
95.38
1973
 
9,338
0.225
41,588
111.7
6.90
100.02
1974
 
9,645
0.248
38,903
104.4
-6.45
97.15
1975
 
10,191
0.269
37,940
101.9
-2.48
95.13
1976
 
10,743
0.283
37,917
101.8
-0.06
93.02
1977
 
11,874
0.302
39,350
105.6
3.78
95.67
1978
 
12,928
0.323
40,054
107.5
1.79
96.07
1979
 
13,802
0.351
39,274
105.4
-1.95
94.74
1980
 
14,661
0.389
37,661
101.1
-4.11
93.64
1981
 
15,972
0.424
37,656
101.1
-0.01
93.59
1982
 
16,860
0.448
37,657
101.1
0.00
93.72
1983
 
17,487
0.467
37,465
100.6
-0.51
92.43
1984
 
19,314
0.484
39,873
107.1
6.43
95.70
1985
 
20,084
0.501
40,065
107.6
0.48
95.05
1986
 
21,133
0.512
41,259
110.8
2.98
95.72
1987
 
22,098
0.528
41,850
112.4
1.43
95.55
1988
 
22,832
0.549
41,615
111.7
-0.56
93.54
1989
 
24,223
0.573
42,302
113.6
1.65
95.14
1990
 
25,173
0.598
42,113
113.1
-0.45
94.64
1991
 
25,750
0.618
41,684
111.9
-1.02
93.51
1992
 
27,511
0.634
43,380
116.5
4.07
93.65
1993
 
27,748
0.650
42,689
114.6
-1.59
92.18
1994
 
28,913
0.664
43,573
117.0
2.07
93.54
1995
 
29,334
0.678
43,295
116.2
-0.64
92.82
1996
 
31,160
0.692
45,027
120.9
4.00
94.97
1997
 
32,367
0.704
45,971
123.4
2.10
94.59
1998
 
34,551
0.710
48,687
130.7
5.91
95.95
1999
 
35,955
0.720
49,937
134.1
2.57
95.24
2000
 
38,082
0.738
51,586
138.5
3.30
95.44
2001
 
39,339
0.753
52,241
140.3
1.27
94.85
2002
 
40,475
0.763
53,053
142.4
1.55
95.45
2003
 
42,156
0.779
54,119
145.3
2.01
96.56
2004
 
44,517
0.798
55,767
149.7
3.04
97.93
2005
 
44,923
0.821
54,700
146.9
-1.91
96.30
2006
 
45,643
0.844
54,053
145.1
-1.18
94.22
2007
 
47,212
0.866
54,513
146.4
0.85
95.61
2008
 
48,766
0.892
54,689
146.8
0.32
96.95
2009
 
47,477
0.889
53,392
143.3
-2.37
94.88
2010
 
49,748
0.905
54,962
147.6
2.94
95.32
2011
 
51,743
0.928
55,755
149.7
1.44
96.47
2012
 
54,043
0.945
57,168
153.5
2.53
98.15
2013
 
54,664
0.958
57,072
153.2
-0.17
97.90
2014
 
55,899
0.971
57,557
154.5
0.85
98.09
2015
 
57,340
0.973
58,932
158.2
2.39
98.85
2016
 
57,748
0.983
58,756
157.8
-0.30
98.75
2017
 
59,801
1.000
59,801
160.6
1.78
99.13
2018
 
61,754
1.020
60,515
162.5
1.19
99.44
2019
 
63,607
1.035
61,448
165.0
1.54
98.74
2020
 
67,722
1.046
64,722
173.8
5.33
100.51
2021
 
70,972
1.090
65,111
174.8
0.60
100.78
2022
 
73,123
1.160
63,013
169.2
-3.22
102.15
Source: Calculations by the Minnesota Regional Economic Analysis Project (MN-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_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:
Average Earnings Per Job, 1969-2022
 
1969
 
7,179
0.189
38,018
100.0
N
1970
 
7,596
0.198
38,430
101.1
1.08
1971
 
8,103
0.206
39,326
103.4
2.33
1972
 
8,691
0.213
40,786
107.3
3.71
1973
 
9,336
0.225
41,579
109.4
1.94
1974
 
9,928
0.248
40,044
105.3
-3.69
1975
 
10,713
0.269
39,883
104.9
-0.40
1976
 
11,549
0.283
40,761
107.2
2.20
1977
 
12,412
0.302
41,131
108.2
0.91
1978
 
13,457
0.323
41,694
109.7
1.37
1979
 
14,568
0.351
41,454
109.0
-0.58
1980
 
15,657
0.389
40,220
105.8
-2.98
1981
 
17,066
0.424
40,237
105.8
0.04
1982
 
17,989
0.448
40,181
105.7
-0.14
1983
 
18,920
0.467
40,535
106.6
0.88
1984
 
20,181
0.484
41,663
109.6
2.78
1985
 
21,130
0.501
42,152
110.9
1.17
1986
 
22,078
0.512
43,104
113.4
2.26
1987
 
23,126
0.528
43,799
115.2
1.61
1988
 
24,408
0.549
44,487
117.0
1.57
1989
 
25,460
0.573
44,462
117.0
-0.05
1990
 
26,599
0.598
44,498
117.0
0.08
1991
 
27,537
0.618
44,577
117.3
0.18
1992
 
29,378
0.634
46,323
121.8
3.92
1993
 
30,101
0.650
46,309
121.8
-0.03
1994
 
30,909
0.664
46,580
122.5
0.59
1995
 
31,605
0.678
46,646
122.7
0.14
1996
 
32,810
0.692
47,411
124.7
1.64
1997
 
34,218
0.704
48,600
127.8
2.51
1998
 
36,011
0.710
50,743
133.5
4.41
1999
 
37,751
0.720
52,432
137.9
3.33
2000
 
39,903
0.738
54,053
142.2
3.09
2001
 
41,477
0.753
55,080
144.9
1.90
2002
 
42,406
0.763
55,584
146.2
0.92
2003
 
43,655
0.779
56,045
147.4
0.83
2004
 
45,456
0.798
56,943
149.8
1.60
2005
 
46,648
0.821
56,800
149.4
-0.25
2006
 
48,442
0.844
57,368
150.9
1.00
2007
 
49,382
0.866
57,019
150.0
-0.61
2008
 
50,298
0.892
56,407
148.4
-1.07
2009
 
50,041
0.889
56,276
148.0
-0.23
2010
 
52,191
0.905
57,661
151.7
2.46
2011
 
53,633
0.928
57,792
152.0
0.23
2012
 
55,061
0.945
58,245
153.2
0.78
2013
 
55,837
0.958
58,296
153.3
0.09
2014
 
56,990
0.971
58,680
154.3
0.66
2015
 
58,005
0.973
59,615
156.8
1.59
2016
 
58,480
0.983
59,501
156.5
-0.19
2017
 
60,329
1.000
60,329
158.7
1.39
2018
 
62,102
1.020
60,856
160.1
0.87
2019
 
64,419
1.035
62,233
163.7
2.26
2020
 
67,378
1.046
64,393
169.4
3.47
2021
 
70,421
1.090
64,606
169.9
0.33
2022
 
71,586
1.160
61,690
162.3
-4.51
Source: Calculations by the Minnesota Regional Economic Analysis Project (MN-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_PN
 
   
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