Beltrami County vs. Minnesota
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Beltrami County vs. Minnesota
Beltrami County:
2022 Earnings = $1,494,462K
2022 Percent of State = 0.53%
Minnesota:
2022 Earnings = $281,140,664K
2022 Percent of U.S. = 1.85%
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.
Beltrami County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Beltrami County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Beltrami 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 Beltrami County over time.
When measured in current dollars, Beltrami County's total industry earnings increased 2,889.52%, from $50M in 1970 to $1,494M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 409.22%, from $253M in 1970 to $1,288M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks Beltrami County's and Minnesota'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, Beltrami County's real total industry earnings rose from $246M in 1969 to $1,288M in 2022, for a net gain of $1,041M, or 422.46%. In comparison, Minnesota's real total industry earnings advanced from $62,979M in 1969 to $242,273M in 2022, for a net gain of $179,294M, or 284.69%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Beltrami County's real total industry earnings 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 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.
Beltrami County's overall real total industry earnings growth was 422.46% over 1969-2022 outpaced Minnesota's increase of 284.69%, and topped the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the Minnesota Total: 1969-2022
Total Industry Earnings as a Percent of the Minnesota Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total industry earnings growth of Beltrami County is to trace its individual percentage contributions to Minnesota'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 Minnesota's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Beltrami County's total industry earnings comprised 0.39% of Minnesota's total industry earnings, while in 2022 it totaled 0.53% thereby yielding a +0.14% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
+0.14%
=
0.53%
-
0.39%
 
   
Beltrami County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Beltrami County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Beltrami 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 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, Beltrami County's real total industry earnings grew at an annual rate of 3.22% over 1970-2022. The county posted its highest growth in 1984 (12.01%) and recorded its lowest growth in 1979 (-2.36%). In 2022, Beltrami County's real total industry earnings declined by -1.24%
Beltrami County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Beltrami 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 traces the annual percent change in Beltrami County's real total industry earnings 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, Beltrami County's annual real total industry earnings growth rate averaged 4.91%. It averaged 3.19% throughout the 1980s, 3.96% throughout the 1990s, 2.21% throughout the 2000s, 2.29% during the 2010s, 1.64% 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 Beltrami County noted in the previous graph with the corresponding decade averages for Minnesota and the nation. As the chart reveals, Beltrami County's average annual real total industry earnings growth topped Minnesota's average throughout the 1970s (4.91% vs. 3.40%), exceeded Minnesota's average during the 1980s (3.19% vs. 2.57%), registered above Minnesota's average in the 1990s (3.96% vs. 3.89%), surpassed Minnesota's average in the 2000s (2.21% vs. 1.22%), recorded under Minnesota's average throughout the 2010s (2.29% vs. 2.44%), and led Minnesota's average over the 3 year period of the current decade, 2020-2022 (1.64% vs. 1.40%).
Finally, relative to nationwide real total industry earnings growth trends, Beltrami County topped the nation in the 1970s (4.91% vs. 3.13%), registered above the nation over the 1980s (3.19% vs. 2.62%), surpassed the nation throughout the 1990s (3.96% vs. 3.43%), outperformed the nation throughout the 2000s (2.21% vs. 1.47%), fell under the nation throughout the 2010s (2.29% vs. 2.53%), and topped the nation over 2020-2022 (1.64% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
3.22
4.91
3.19
3.96
2.21
2.29
1.64
-1.24
 
2.63
3.40
2.57
3.89
1.22
2.44
1.40
0.25
 
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.

   
 
Beltrami County:
Total Industry Earnings, 1969-2022
 
1969
 
46,546
0.189
246,497
100.0
N
0.39
1970
 
49,990
0.198
252,909
102.6
2.60
0.39
1971
 
54,729
0.206
265,610
107.8
5.02
0.40
1972
 
60,758
0.213
285,142
115.7
7.35
0.41
1973
 
71,485
0.225
318,348
129.1
11.65
0.41
1974
 
79,642
0.248
321,228
130.3
0.90
0.43
1975
 
86,453
0.269
321,865
130.6
0.20
0.44
1976
 
99,619
0.283
351,601
142.6
9.24
0.47
1977
 
115,584
0.302
383,033
155.4
8.94
0.48
1978
 
130,531
0.323
404,421
164.1
5.58
0.48
1979
 
138,765
0.351
394,858
160.2
-2.36
0.45
1980
 
151,567
0.389
389,352
158.0
-1.39
0.46
1981
 
170,169
0.424
401,200
162.8
3.04
0.48
1982
 
175,495
0.448
391,984
159.0
-2.30
0.47
1983
 
191,512
0.467
410,301
166.5
4.67
0.49
1984
 
222,611
0.484
459,570
186.4
12.01
0.50
1985
 
238,392
0.501
475,567
192.9
3.48
0.50
1986
 
242,844
0.512
474,129
192.3
-0.30
0.48
1987
 
259,043
0.528
490,593
199.0
3.47
0.47
1988
 
286,303
0.549
521,832
211.7
6.37
0.49
1989
 
307,466
0.573
536,955
217.8
2.90
0.48
1990
 
329,309
0.598
550,914
223.5
2.60
0.49
1991
 
347,173
0.618
562,005
228.0
2.01
0.50
1992
 
370,902
0.634
584,834
237.3
4.06
0.49
1993
 
389,673
0.650
599,497
243.2
2.51
0.50
1994
 
422,973
0.664
637,430
258.6
6.33
0.50
1995
 
440,908
0.678
650,748
264.0
2.09
0.50
1996
 
470,235
0.692
679,501
275.7
4.42
0.49
1997
 
503,273
0.704
714,805
290.0
5.20
0.50
1998
 
550,240
0.710
775,346
314.5
8.47
0.50
1999
 
569,170
0.720
790,503
320.7
1.95
0.49
2000
 
619,807
0.738
839,597
340.6
6.21
0.49
2001
 
630,428
0.753
837,200
339.6
-0.29
0.48
2002
 
671,410
0.763
880,064
357.0
5.12
0.50
2003
 
712,044
0.779
914,119
370.8
3.87
0.50
2004
 
743,675
0.798
931,608
377.9
1.91
0.49
2005
 
761,035
0.821
926,656
375.9
-0.53
0.49
2006
 
791,102
0.844
936,881
380.1
1.10
0.50
2007
 
798,536
0.866
922,022
374.1
-1.59
0.48
2008
 
826,130
0.892
926,466
375.9
0.48
0.48
2009
 
871,310
0.889
979,870
397.5
5.76
0.54
2010
 
880,880
0.905
973,198
394.8
-0.68
0.52
2011
 
898,328
0.928
967,984
392.7
-0.54
0.50
2012
 
934,541
0.945
988,577
401.1
2.13
0.49
2013
 
962,412
0.958
1,004,805
407.6
1.64
0.50
2014
 
1,017,748
0.971
1,047,918
425.1
4.29
0.51
2015
 
1,063,851
0.973
1,093,383
443.6
4.34
0.51
2016
 
1,109,058
0.983
1,128,422
457.8
3.20
0.52
2017
 
1,154,134
1.000
1,154,134
468.2
2.28
0.52
2018
 
1,220,959
1.020
1,196,467
485.4
3.67
0.52
2019
 
1,270,685
1.035
1,227,561
498.0
2.60
0.53
2020
 
1,339,379
1.046
1,280,049
519.3
4.28
0.55
2021
 
1,421,377
1.090
1,304,004
529.0
1.87
0.54
2022
 
1,494,462
1.160
1,287,852
522.5
-1.24
0.53
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_1200_PSN
 
   

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

   
 
Minnesota:
Total Industry Earnings, 1969-2022
 
1969
 
11,892,376
0.189
62,979,272
100.0
N
1.82
1970
 
12,810,612
0.198
64,811,353
102.9
2.91
1.85
1971
 
13,521,058
0.206
65,620,277
104.2
1.25
1.82
1972
 
14,755,886
0.213
69,250,451
110.0
5.53
1.80
1973
 
17,535,855
0.225
78,093,320
124.0
12.77
1.91
1974
 
18,533,104
0.248
74,751,357
118.7
-4.28
1.86
1975
 
19,570,511
0.269
72,861,173
115.7
-2.53
1.85
1976
 
21,234,577
0.283
74,946,448
119.0
2.86
1.81
1977
 
24,149,643
0.302
80,029,305
127.1
6.78
1.85
1978
 
27,431,578
0.323
84,990,637
135.0
6.20
1.86
1979
 
30,608,907
0.351
87,098,162
138.3
2.48
1.86
1980
 
32,959,719
0.389
84,668,411
134.4
-2.79
1.85
1981
 
35,661,766
0.424
84,078,194
133.5
-0.70
1.82
1982
 
36,961,732
0.448
82,557,307
131.1
-1.81
1.80
1983
 
38,809,706
0.467
83,147,026
132.0
0.71
1.77
1984
 
44,888,579
0.484
92,670,326
147.1
11.45
1.85
1985
 
47,903,479
0.501
95,562,318
151.7
3.12
1.83
1986
 
51,087,781
0.512
99,743,808
158.4
4.38
1.83
1987
 
55,449,646
0.528
105,014,291
166.7
5.28
1.85
1988
 
58,913,707
0.549
107,379,399
170.5
2.25
1.81
1989
 
63,795,953
0.573
111,412,572
176.9
3.76
1.84
1990
 
67,762,788
0.598
113,363,092
180.0
1.75
1.84
1991
 
69,969,621
0.618
113,267,104
179.8
-0.08
1.85
1992
 
75,987,162
0.634
119,815,771
190.2
5.78
1.87
1993
 
78,155,893
0.650
120,239,835
190.9
0.35
1.84
1994
 
83,954,403
0.664
126,521,193
200.9
5.22
1.88
1995
 
87,847,969
0.678
129,657,244
205.9
2.48
1.88
1996
 
95,224,414
0.692
137,601,569
218.5
6.13
1.92
1997
 
100,628,582
0.704
142,924,116
226.9
3.87
1.90
1998
 
110,198,103
0.710
155,280,769
246.6
8.65
1.93
1999
 
117,102,517
0.720
162,640,126
258.2
4.74
1.92
2000
 
126,849,075
0.738
171,830,992
272.8
5.65
1.92
2001
 
131,679,344
0.753
174,868,322
277.7
1.77
1.92
2002
 
135,093,435
0.763
177,076,503
281.2
1.26
1.93
2003
 
141,095,703
0.779
181,138,089
287.6
2.29
1.95
2004
 
150,929,725
0.798
189,071,022
300.2
4.38
1.97
2005
 
154,900,880
0.821
188,611,395
299.5
-0.24
1.93
2006
 
159,552,889
0.844
188,954,156
300.0
0.18
1.87
2007
 
167,147,935
0.866
192,995,872
306.4
2.14
1.89
2008
 
171,959,840
0.892
192,844,948
306.2
-0.08
1.91
2009
 
162,567,044
0.889
182,821,880
290.3
-5.20
1.87
2010
 
169,567,097
0.905
187,337,978
297.5
2.47
1.88
2011
 
179,493,894
0.928
193,411,808
307.1
3.24
1.90
2012
 
189,437,137
0.945
200,390,481
318.2
3.61
1.92
2013
 
194,360,142
0.958
202,921,396
322.2
1.26
1.91
2014
 
201,443,195
0.971
207,414,663
329.3
2.21
1.90
2015
 
210,015,982
0.973
215,845,982
342.7
4.06
1.90
2016
 
213,544,514
0.983
217,272,917
345.0
0.66
1.89
2017
 
223,396,198
1.000
223,396,198
354.7
2.82
1.89
2018
 
233,241,058
1.020
228,562,386
362.9
2.31
1.88
2019
 
240,612,435
1.035
232,446,586
369.1
1.70
1.85
2020
 
244,306,971
1.046
233,484,944
370.7
0.45
1.86
2021
 
263,432,953
1.090
241,679,391
383.7
3.51
1.85
2022
 
281,140,664
1.160
242,272,833
384.7
0.25
1.85
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_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 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_1200_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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