Stevens County vs. Minnesota
Comparative Trends Analysis:
Per Capita Personal Income Growth and Change, 1969-2022
Introduction
Stevens County vs. Minnesota
Stevens County:
2022 PCI = $65,210
2022 Percent of State = 94.73%
Minnesota:
2022 PCI = $68,840
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.
Stevens County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Stevens County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Stevens 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 Stevens County over time.
When measured in current dollars, Stevens County's per capita personal income increased 1,858.33%, from $3,330 in 1970 to $65,210 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 233.57%, from $16,847 in 1970 to $56,195 in 2022.
Real Per Capita Personal Income, 1969-2022
Real Per Capita Personal Income, 1969-2022
Figure 2.
Figure 2 tracks Stevens County's and Minnesota'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, Stevens County's real per capita personal income rose from $15,934 in 1969 to $56,195 in 2022, for a net gain of $40,261, or 252.67%. In comparison, Minnesota's real per capita personal income advanced from $20,276 in 1969 to $59,323 in 2022, for a net gain of $39,047, or 192.58%.
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Stevens County's real per capita personal income 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 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.
Stevens County's overall real per capita personal income growth was 252.67% over 1969-2022 outpaced Minnesota's increase of 192.58%, 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 displays the trends for per capita personal income relative to the national average by tracing Stevens County and Minnesota per capita personal income as a percent of the national average over 1969-2022.
In 1969, Stevens County's per capita personal income amounted to 76.55% of the national average; in 2022, it approximated 99.60%. Similarly, in 1969, Minnesota's per capita personal income totaled 97.41% of the national average; in 2022, it consisted of 105.15%.
Stevens County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Stevens County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Stevens 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 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, Stevens County's real per capita personal income grew at an annual rate of 2.88% over 1970-2022. The county posted its highest growth in 1973 (47.54%) and posted its lowest growth in 1976 (-22.33%). In 2022, Stevens County's real per capita personal income grew by 2.30%
Stevens County Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Stevens 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 traces the annual percent change in Stevens 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, Stevens County's annual real per capita personal income growth rate averaged 4.76%. It averaged 2.35% in the 1980s, 2.03% during the 1990s, 2.49% throughout the 2000s, 1.30% in the 2010s, 7.86% 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 Stevens County noted in the previous graph with the corresponding decade averages for Minnesota and the nation. As the chart reveals, Stevens County's average annual real per capita personal income growth outpaced Minnesota's average during the 1970s (4.76% vs. 2.82%), led Minnesota's average during the 1980s (2.35% vs. 2.24%), amounted to less than Minnesota's average throughout the 1990s (2.03% vs. 2.43%), surpassed Minnesota's average throughout the 2000s (2.49% vs. 0.95%), lagged Minnesota's average throughout the 2010s (1.30% vs. 1.97%), and surpassed Minnesota's average over the 3 year period of the current decade, 2020-2022 (7.86% vs. 2.07%).
Finally, relative to nationwide real per capita personal income growth trends, Stevens County exceeded the nation in the 1970s (4.76% vs. 2.37%), outpaced the nation over the 1980s (2.35% vs. 2.19%), exceeded the nation in the 1990s (2.03% vs. 2.01%), outperformed the nation during the 2000s (2.49% vs. 1.10%), lagged the nation during the 2010s (1.30% vs. 1.97%), and topped the nation over 2020-2022 (7.86% vs. 1.78%).
   
 
Real* Per Capita Personal Income Growth:
Average Annual Percent Change
 
 
 
2.88
4.76
2.35
2.03
2.49
1.30
7.86
2.30
 
2.08
2.82
2.24
2.43
0.95
1.97
2.07
-3.27
 
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.

   
 
Stevens County:
Per Capita Personal Income, 1969-2022
 
1969
 
3,009
0.189
15,934
100.0
N
78.59
76.55
1970
 
3,330
0.198
16,847
105.7
5.73
80.87
79.32
1971
 
3,438
0.206
16,685
104.7
-0.96
78.98
76.90
1972
 
3,698
0.213
17,354
108.9
4.01
78.44
76.14
1973
 
5,750
0.225
25,605
160.7
47.54
104.53
107.21
1974
 
6,080
0.248
24,521
153.9
-4.23
102.99
104.18
1975
 
6,527
0.269
24,301
152.5
-0.90
102.95
103.22
1976
 
5,348
0.283
18,875
118.5
-22.33
78.64
77.79
1977
 
6,627
0.302
21,961
137.8
16.35
87.06
88.18
1978
 
7,402
0.323
22,934
143.9
4.43
87.22
88.59
1979
 
7,891
0.351
22,454
140.9
-2.09
84.32
85.47
1980
 
8,996
0.389
23,110
145.0
2.92
87.48
88.34
1981
 
9,188
0.424
21,662
135.9
-6.27
81.22
81.37
1982
 
9,170
0.448
20,482
128.5
-5.45
76.02
76.48
1983
 
9,852
0.467
21,108
132.5
3.06
77.59
77.57
1984
 
12,338
0.484
25,470
159.8
20.67
86.07
88.83
1985
 
12,747
0.501
25,429
159.6
-0.16
84.23
86.44
1986
 
13,196
0.512
25,765
161.7
1.32
82.86
85.24
1987
 
14,520
0.528
27,499
172.6
6.73
86.35
89.48
1988
 
13,504
0.549
24,614
154.5
-10.49
77.00
77.43
1989
 
15,670
0.573
27,367
171.8
11.18
82.61
83.99
1990
 
16,295
0.598
27,260
171.1
-0.39
81.76
83.06
1991
 
16,135
0.618
26,120
163.9
-4.18
79.34
80.47
1992
 
16,510
0.634
26,033
163.4
-0.33
76.57
78.33
1993
 
15,780
0.650
24,277
152.4
-6.74
71.99
72.68
1994
 
17,304
0.664
26,077
163.7
7.41
74.55
76.73
1995
 
17,684
0.678
26,100
163.8
0.09
72.82
75.00
1996
 
21,107
0.692
30,501
191.4
16.86
81.56
85.37
1997
 
21,237
0.704
30,163
189.3
-1.11
78.46
81.92
1998
 
22,497
0.710
31,701
198.9
5.10
77.20
81.83
1999
 
23,641
0.720
32,834
206.1
3.57
78.18
82.68
2000
 
25,268
0.738
34,229
214.8
4.25
78.11
82.71
2001
 
27,812
0.753
36,934
231.8
7.90
83.23
88.16
2002
 
29,336
0.763
38,452
241.3
4.11
86.56
92.25
2003
 
31,195
0.779
40,048
251.3
4.15
88.63
95.52
2004
 
33,332
0.798
41,755
262.0
4.26
89.88
97.51
2005
 
33,887
0.821
41,262
259.0
-1.18
89.62
95.00
2006
 
34,343
0.844
40,672
255.3
-1.43
87.25
90.75
2007
 
37,150
0.866
42,895
269.2
5.47
89.90
93.84
2008
 
41,179
0.892
46,180
289.8
7.66
95.80
100.80
2009
 
36,821
0.889
41,409
259.9
-10.33
89.89
93.68
2010
 
40,344
0.905
44,572
279.7
7.64
94.84
99.47
2011
 
45,867
0.928
49,424
310.2
10.88
101.62
107.55
2012
 
57,761
0.945
61,101
383.5
23.63
121.85
130.57
2013
 
52,983
0.958
55,317
347.2
-9.47
111.73
119.33
2014
 
52,575
0.971
54,134
339.7
-2.14
106.50
113.58
2015
 
47,417
0.973
48,733
305.8
-9.98
92.32
98.66
2016
 
44,480
0.983
45,256
284.0
-7.13
85.55
90.83
2017
 
45,766
1.000
45,766
287.2
1.13
85.02
89.73
2018
 
45,751
1.020
44,833
281.4
-2.04
81.40
85.82
2019
 
46,607
1.035
45,025
282.6
0.43
80.53
83.90
2020
 
55,108
1.046
52,667
330.5
16.97
89.93
93.16
2021
 
59,873
1.090
54,929
344.7
4.30
89.57
92.93
2022
 
65,210
1.160
56,195
352.7
2.30
94.73
99.60
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_700_PSN
 
   

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

   
 
Minnesota:
Per Capita Personal Income, 1969-2022
 
1969
 
3,829
0.189
20,276
100.0
N
97.41
1970
 
4,117
0.198
20,831
102.7
2.74
98.08
1971
 
4,353
0.206
21,124
104.2
1.41
97.36
1972
 
4,714
0.213
22,124
109.1
4.73
97.06
1973
 
5,500
0.225
24,496
120.8
10.72
102.56
1974
 
5,903
0.248
23,808
117.4
-2.81
101.15
1975
 
6,340
0.269
23,605
116.4
-0.85
100.26
1976
 
6,801
0.283
24,002
118.4
1.68
98.92
1977
 
7,612
0.302
25,224
124.4
5.09
101.28
1978
 
8,487
0.323
26,296
129.7
4.25
101.57
1979
 
9,359
0.351
26,630
131.3
1.27
101.37
1980
 
10,284
0.389
26,418
130.3
-0.80
100.99
1981
 
11,313
0.424
26,672
131.5
0.96
100.19
1982
 
12,063
0.448
26,944
132.9
1.02
100.61
1983
 
12,698
0.467
27,206
134.2
0.97
99.98
1984
 
14,335
0.484
29,593
146.0
8.78
103.21
1985
 
15,134
0.501
30,190
148.9
2.02
102.63
1986
 
15,927
0.512
31,096
153.4
3.00
102.87
1987
 
16,815
0.528
31,846
157.1
2.41
103.62
1988
 
17,539
0.549
31,967
157.7
0.38
100.56
1989
 
18,969
0.573
33,128
163.4
3.63
101.67
1990
 
19,929
0.598
33,341
164.4
0.64
101.58
1991
 
20,337
0.618
32,921
162.4
-1.26
101.43
1992
 
21,562
0.634
33,998
167.7
3.27
102.30
1993
 
21,921
0.650
33,725
166.3
-0.80
100.96
1994
 
23,211
0.664
34,980
172.5
3.72
102.92
1995
 
24,283
0.678
35,840
176.8
2.46
102.99
1996
 
25,878
0.692
37,394
184.4
4.34
104.66
1997
 
27,067
0.704
38,444
189.6
2.81
104.41
1998
 
29,141
0.710
41,063
202.5
6.81
106.00
1999
 
30,240
0.720
42,000
207.1
2.28
105.76
2000
 
32,348
0.738
43,819
216.1
4.33
105.88
2001
 
33,417
0.753
44,377
218.9
1.27
105.92
2002
 
33,889
0.763
44,420
219.1
0.10
106.57
2003
 
35,195
0.779
45,184
222.8
1.72
107.77
2004
 
37,084
0.798
46,456
229.1
2.82
108.49
2005
 
37,812
0.821
46,041
227.1
-0.89
106.01
2006
 
39,362
0.844
46,616
229.9
1.25
104.02
2007
 
41,325
0.866
47,715
235.3
2.36
104.39
2008
 
42,983
0.892
48,204
237.7
1.02
105.21
2009
 
40,963
0.889
46,067
227.2
-4.43
104.21
2010
 
42,539
0.905
46,997
231.8
2.02
104.89
2011
 
45,137
0.928
48,637
239.9
3.49
105.83
2012
 
47,404
0.945
50,145
247.3
3.10
107.16
2013
 
47,419
0.958
49,508
244.2
-1.27
106.80
2014
 
49,365
0.971
50,828
250.7
2.67
106.65
2015
 
51,362
0.973
52,787
260.3
3.86
106.87
2016
 
51,990
0.983
52,897
260.9
0.21
106.16
2017
 
53,832
1.000
53,832
265.5
1.77
105.55
2018
 
56,205
1.020
55,077
271.6
2.31
105.43
2019
 
57,874
1.035
55,910
275.8
1.51
104.19
2020
 
61,278
1.046
58,563
288.8
4.75
103.59
2021
 
66,846
1.090
61,326
302.5
4.72
103.75
2022
 
68,840
1.160
59,323
292.6
-3.27
105.15
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_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 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_700_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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