Stearns County vs. Minnesota | Total Personal Income Trends over 1969-2022

Introduction

Stearns County:

2022 TPI = $9,511,382K

2022 Percent of State = 2.42%

Minnesota:

2022 TPI = $393,569,020K

2022 Percent of U.S. = 1.80%

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 Stearns County and Minnesota 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.

Stearns County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)

Figure 1.

Figure 1 depicts Stearns 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 Stearns County over time.

When measured in current dollars, Stearns County's total personal income increased 3,111.23%, from $296M in 1970 to $9,511M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 446.98%, from $1,498M in 1970 to $8,196M in 2022.

Real Total Personal Income, 1969-2022 (Millions)

Figure 2.

Figure 2 tracks Stearns County's and Minnesota'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, Stearns County's real total personal income rose from $1,381M in 1969 to $8,196M in 2022, for a net gain of $6,815M, or 493.37%. In comparison, Minnesota's real total personal income increased from $76,196M in 1969 to $339,158M in 2022, for a net advance of $262,962M, or 345.11%.

Real Total Personal Income Indices (1969=100): 1969-2022

Figure 3.

Figure 3 shows Stearns County's real total 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 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.

Stearns County's overall real total personal income growth was 493.37% over 1969-2022 outpaced Minnesota's increase of 345.11%, and outpaced the United States' increase of 348.76%.

Total Personal Income as a Percent of the Minnesota Total: 1969-2022

Figure 4.

Another interesting and insightful way of comparing the total personal income growth of Stearns County is to trace its individual percentage contributions to Minnesota'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 Minnesota's total personal income, while a declining share shows it grew more slowly.

In 1969, Stearns County's total personal income totaled 1.81% of Minnesota's total personal income, while in 2022 it equated to 2.42% thereby yielding a +0.60% share-shift.

Total Personal Income Share-Shift

2022 vs. 1969

	Share- Shift*		2022	vs.	1969
Stearns County	+0.60%	=	2.42%	-	1.81%

*Percent figures may not add due to rounding by a factor of ± 0.01%.

Stearns County Real Total Personal Income:
Annual Percent Change, 1970-2022

Figure 5.

Figure 5 highlights the short-run pattern of Stearns 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, Stearns County's real total personal income grew at an annual rate of 3.46% over 1970-2022. The county recorded its highest growth in 1973 (12.25%) and posted its lowest growth in 2022 (-3.40%). In 2022, Stearns County's real total personal income declined by -3.40%

Stearns 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 depicts the annual percent change in Stearns 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, Stearns County's annual real total personal income growth rate averaged 4.91%. It averaged 3.37% in the 1980s, 3.62% throughout the 1990s, 2.58% during the 2000s, 2.75% in the 2010s, 3.69% thus far this decade (2020-2022).

Real Total Personal Income Growth:
Average Annual Percent Change by Decade

Figure 7.

Figure 7 compares the decade average growth rates for Stearns County noted in the previous graph with the corresponding decade averages for Minnesota and the nation. As the chart reveals, Stearns County's average annual real total personal income growth surpassed Minnesota's average during the 1970s (4.91% vs. 3.56%), outgained Minnesota's average during the 1980s (3.37% vs. 2.97%), lagged Minnesota's average in the 1990s (3.62% vs. 3.62%), surpassed Minnesota's average throughout the 2000s (2.58% vs. 1.77%), led Minnesota's average in the 2010s (2.75% vs. 2.72%), and topped Minnesota's average over the 3 year period of the current decade, 2020-2022 (3.69% vs. 2.25%).

Finally, relative to nationwide real total personal income growth trends, Stearns County topped the nation during the 1970s (4.91% vs. 3.50%), outpaced the nation during the 1980s (3.37% vs. 3.16%), topped the nation in the 1990s (3.62% vs. 3.27%), surpassed the nation during the 2000s (2.58% vs. 2.06%), led the nation during the 2010s (2.75% vs. 2.72%), and exceeded the nation over 2020-2022 (3.69% vs. 2.10%).

Real* Total Personal Income Growth:

Average Annual Percent Change

	1970-2022	1970-1979	1980-1989	1990-1999	2000-2009	2010-2019	2020-2022	2022
	%	%	%	%	%	%	%	%
Stearns	3.46	4.91	3.37	3.62	2.58	2.75	3.69	-3.40
Minnesota	2.89	3.56	2.97	3.62	1.77	2.72	2.25	-3.17
United States	2.89	3.50	3.16	3.27	2.06	2.72	2.10	-4.19

*Real total personal income growth determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

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

Stearns County:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Statewide Total
1969	260,838	0.189	1,381,338	100.0	N	1.81
1970	296,191	0.198	1,498,487	108.5	8.48	1.89
1971	321,127	0.206	1,558,491	112.8	4.00	1.92
1972	354,493	0.213	1,663,662	120.4	6.75	1.94
1973	419,334	0.225	1,867,442	135.2	12.25	1.96
1974	460,818	0.248	1,858,662	134.6	-0.47	2.00
1975	502,250	0.269	1,869,881	135.4	0.60	2.02
1976	552,195	0.283	1,948,946	141.1	4.23	2.05
1977	626,689	0.302	2,076,780	150.3	6.56	2.07
1978	697,320	0.323	2,160,491	156.4	4.03	2.05
1979	779,635	0.351	2,218,465	160.6	2.68	2.06
1980	862,817	0.389	2,216,443	160.5	-0.09	2.05
1981	970,594	0.424	2,288,327	165.7	3.24	2.09
1982	1,049,871	0.448	2,344,980	169.8	2.48	2.11
1983	1,092,716	0.467	2,341,066	169.5	-0.17	2.08
1984	1,233,785	0.484	2,547,090	184.4	8.80	2.07
1985	1,318,920	0.501	2,631,104	190.5	3.30	2.08
1986	1,418,965	0.512	2,770,388	200.6	5.29	2.12
1987	1,506,723	0.528	2,853,534	206.6	3.00	2.12
1988	1,599,059	0.549	2,914,534	211.0	2.14	2.12
1989	1,764,536	0.573	3,081,567	223.1	5.73	2.14
1990	1,876,331	0.598	3,138,990	227.2	1.86	2.14
1991	1,945,861	0.618	3,149,968	228.0	0.35	2.15
1992	2,090,627	0.634	3,296,479	238.6	4.65	2.16
1993	2,169,230	0.650	3,337,277	241.6	1.24	2.17
1994	2,293,597	0.664	3,456,503	250.2	3.57	2.14
1995	2,406,382	0.678	3,551,646	257.1	2.75	2.13
1996	2,609,560	0.692	3,770,877	273.0	6.17	2.14
1997	2,692,550	0.704	3,824,265	276.9	1.42	2.09
1998	3,021,530	0.710	4,257,655	308.2	11.33	2.15
1999	3,153,740	0.720	4,380,134	317.1	2.88	2.14
2000	3,366,350	0.738	4,560,090	330.1	4.11	2.11
2001	3,609,200	0.753	4,792,967	347.0	5.11	2.17
2002	3,781,214	0.763	4,956,304	358.8	3.41	2.22
2003	3,945,340	0.779	5,065,011	366.7	2.19	2.22
2004	4,156,190	0.798	5,206,497	376.9	2.79	2.20
2005	4,295,914	0.821	5,230,818	378.7	0.47	2.22
2006	4,523,853	0.844	5,357,476	387.8	2.42	2.23
2007	4,830,954	0.866	5,578,018	403.8	4.12	2.25
2008	5,141,899	0.892	5,766,400	417.5	3.38	2.28
2009	5,013,685	0.889	5,638,359	408.2	-2.22	2.32
2010	5,210,242	0.905	5,756,283	416.7	2.09	2.31
2011	5,655,580	0.928	6,094,112	441.2	5.87	2.34
2012	5,905,999	0.945	6,247,487	452.3	2.52	2.31
2013	6,080,078	0.958	6,347,896	459.5	1.61	2.36
2014	6,458,234	0.971	6,649,678	481.4	4.75	2.39
2015	6,638,559	0.973	6,822,844	493.9	2.60	2.35
2016	6,663,475	0.983	6,779,817	490.8	-0.63	2.31
2017	7,010,935	1.000	7,010,935	507.5	3.41	2.32
2018	7,341,309	1.020	7,194,047	520.8	2.61	2.31
2019	7,647,761	1.035	7,388,213	534.9	2.70	2.32
2020	8,576,356	1.046	8,196,451	593.4	10.94	2.45
2021	9,248,962	1.090	8,485,208	614.3	3.52	2.42
2022	9,511,382	1.160	8,196,429	593.4	-3.40	2.42

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

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_300_PSN

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

Minnesota:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Nationwide Total
1969	14,388,047	0.189	76,195,769	100.0	N	1.82
1970	15,708,849	0.198	79,474,092	104.3	4.30	1.84
1971	16,766,023	0.206	81,368,711	106.8	2.38	1.81
1972	18,229,257	0.213	85,551,234	112.3	5.14	1.79
1973	21,370,238	0.225	95,169,174	124.9	11.24	1.89
1974	23,011,795	0.248	92,815,694	121.8	-2.47	1.85
1975	24,891,102	0.269	92,669,777	121.6	-0.16	1.83
1976	26,907,121	0.283	94,967,427	124.6	2.48	1.80
1977	30,292,726	0.302	100,386,817	131.7	5.71	1.83
1978	33,988,927	0.323	105,307,123	138.2	4.90	1.83
1979	37,791,833	0.351	107,537,299	141.1	2.12	1.82
1980	42,010,462	0.389	107,918,367	141.6	0.35	1.82
1981	46,515,652	0.424	109,667,929	143.9	1.62	1.80
1982	49,837,561	0.448	111,316,613	146.1	1.50	1.79
1983	52,590,261	0.467	112,670,882	147.9	1.22	1.77
1984	59,598,876	0.484	123,039,031	161.5	9.20	1.82
1985	63,324,040	0.501	126,324,689	165.8	2.67	1.80
1986	66,976,178	0.512	130,764,322	171.6	3.51	1.80
1987	71,215,906	0.528	134,873,501	177.0	3.14	1.81
1988	75,348,529	0.549	137,334,419	180.2	1.82	1.77
1989	82,290,313	0.573	143,710,925	188.6	4.64	1.79
1990	87,486,978	0.598	146,360,482	192.1	1.84	1.79
1991	90,311,671	0.618	146,196,897	191.9	-0.11	1.78
1992	96,932,703	0.634	152,842,483	200.6	4.55	1.79
1993	99,872,645	0.650	153,650,223	201.7	0.53	1.77
1994	107,011,913	0.664	161,269,385	211.7	4.96	1.80
1995	113,162,912	0.678	167,020,267	219.2	3.57	1.80
1996	121,958,540	0.692	176,233,025	231.3	5.52	1.83
1997	128,932,791	0.704	183,124,961	240.3	3.91	1.82
1998	140,269,135	0.710	197,654,029	259.4	7.93	1.85
1999	147,376,230	0.720	204,686,365	268.6	3.56	1.85
2000	159,595,422	0.738	216,189,513	283.7	5.62	1.85
2001	166,509,015	0.753	221,121,637	290.2	2.28	1.85
2002	170,085,165	0.763	222,942,634	292.6	0.82	1.86
2003	177,862,252	0.779	228,338,835	299.7	2.42	1.88
2004	188,674,909	0.798	236,354,753	310.2	3.51	1.89
2005	193,583,814	0.821	235,712,755	309.4	-0.27	1.84
2006	203,249,483	0.844	240,702,846	315.9	2.12	1.80
2007	215,185,417	0.866	248,461,922	326.1	3.22	1.80
2008	225,533,454	0.892	252,925,260	331.9	1.80	1.82
2009	216,335,432	0.889	243,289,473	319.3	-3.81	1.79
2010	225,971,601	0.905	249,653,756	327.6	2.62	1.80
2011	241,599,513	0.928	260,333,082	341.7	4.28	1.82
2012	255,427,731	0.945	270,196,682	354.6	3.79	1.84
2013	257,507,779	0.958	268,850,585	352.8	-0.50	1.83
2014	270,190,205	0.971	278,199,571	365.1	3.48	1.83
2015	282,988,049	0.973	290,843,738	381.7	4.54	1.83
2016	288,866,631	0.983	293,910,129	385.7	1.05	1.82
2017	301,748,990	1.000	301,748,990	396.0	2.67	1.81
2018	317,564,784	1.020	311,194,630	408.4	3.13	1.81
2019	329,115,631	1.035	317,946,182	417.3	2.17	1.79
2020	349,887,419	1.046	334,388,511	438.9	5.17	1.78
2021	381,789,127	1.090	350,262,041	459.7	4.75	1.78
2022	393,569,020	1.160	339,157,916	445.1	-3.17	1.80

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

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_300_PSN

Interactive Table Tip: 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


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change
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

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

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_300_PN

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