Newport County vs. Rhode Island
Comparative Trends Analysis:
Per Capita Personal Income Growth and Change, 1969-2022
Introduction
Newport County vs. Rhode Island
Newport County:
2022 PCI = $84,484
2022 Percent of State = 132.93%
Rhode Island:
2022 PCI = $63,557
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.
Newport County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Newport County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Newport 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 Newport County over time.
When measured in current dollars, Newport County's per capita personal income increased 1,568.83%, from $5,062 in 1970 to $84,484 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 184.26%, from $25,612 in 1970 to $72,804 in 2022.
Real Per Capita Personal Income, 1969-2022
Real Per Capita Personal Income, 1969-2022
Figure 2.
Figure 2 tracks Newport County's and Rhode Island'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, Newport County's real per capita personal income rose from $23,953 in 1969 to $72,804 in 2022, for a net gain of $48,851, or 203.95%. In comparison, Rhode Island's real per capita personal income increased from $21,262 in 1969 to $54,770 in 2022, for a net advance of $33,508, or 157.60%.
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 Newport County's real per capita personal income growth in a broader context by offering direct comparisons across time with Rhode Island, 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.
Newport County's overall real per capita personal income growth was 203.95% over 1969-2022 outpaced Rhode Island's increase of 157.60%, and topped 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 Newport County and Rhode Island per capita personal income as a percent of the national average over 1969-2022.
In 1969, Newport County's per capita personal income amounted to 115.07% of the national average; in 2022, it approximated 129.04%. Similarly, in 1969, Rhode Island's per capita personal income totaled 102.14% of the national average; in 2022, it consisted of 97.08%.
Newport County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Newport County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Newport 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 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, Newport County's real per capita personal income grew at an annual rate of 2.17% over 1970-2022. The county posted its highest growth in 2019 (7.84%) and posted its lowest growth in 1973 (-7.74%). In 2022, Newport County's real per capita personal income declined by -4.37%
Newport County Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Newport 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 shows the annual percent change in Newport 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, Newport County's annual real per capita personal income growth rate averaged 1.25%. It averaged 4.00% throughout the 1980s, 2.01% during the 1990s, 1.24% in the 2000s, 2.50% in the 2010s, 1.70% 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 Newport County noted in the previous graph with the corresponding decade averages for Rhode Island and the nation. As the chart reveals, Newport County's average annual real per capita personal income growth lagged Rhode Island's average in the 1970s (1.25% vs. 1.60%), recorded above Rhode Island's average throughout the 1980s (4.00% vs. 3.36%), recorded above Rhode Island's average during the 1990s (2.01% vs. 1.35%), posted below Rhode Island's average during the 2000s (1.24% vs. 1.47%), outgained Rhode Island's average in the 2010s (2.50% vs. 1.56%), and led Rhode Island's average over the 3 year period of the current decade, 2020-2022 (1.70% vs. 1.09%).
Finally, relative to nationwide real per capita personal income growth trends, Newport County fell below the nation in the 1970s (1.25% vs. 2.37%), exceeded the nation throughout the 1980s (4.00% vs. 2.19%), outperformed the nation in the 1990s (2.01% vs. 2.01%), surpassed the nation in the 2000s (1.24% vs. 1.10%), registered above the nation throughout the 2010s (2.50% vs. 1.97%), and trailed the nation over 2020-2022 (1.70% vs. 1.78%).
   
 
Real* Per Capita Personal Income Growth:
Average Annual Percent Change
 
 
 
2.17
1.25
4.00
2.01
1.24
2.50
1.70
-4.37
 
1.83
1.60
3.36
1.35
1.47
1.56
1.09
-6.23
 
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.

   
 
Newport County:
Per Capita Personal Income, 1969-2022
 
1969
 
4,523
0.189
23,953
100.0
N
112.66
115.07
1970
 
5,062
0.198
25,612
106.9
6.93
117.57
120.60
1971
 
5,212
0.206
25,293
105.6
-1.25
115.85
116.57
1972
 
5,582
0.213
26,197
109.4
3.58
115.42
114.93
1973
 
5,428
0.225
24,171
100.9
-7.74
105.23
101.20
1974
 
6,006
0.248
24,226
101.1
0.23
108.29
102.93
1975
 
6,336
0.269
23,588
98.5
-2.63
104.41
100.19
1976
 
6,752
0.283
23,832
99.5
1.03
102.30
98.21
1977
 
7,462
0.302
24,729
103.2
3.77
103.82
99.29
1978
 
8,339
0.323
25,838
107.9
4.48
106.00
99.80
1979
 
9,456
0.351
26,908
112.3
4.14
108.18
102.43
1980
 
10,978
0.389
28,201
117.7
4.80
110.88
107.80
1981
 
12,669
0.424
29,870
124.7
5.92
115.49
112.20
1982
 
13,831
0.448
30,892
129.0
3.42
117.22
115.35
1983
 
14,763
0.467
31,629
132.0
2.39
115.87
116.24
1984
 
16,240
0.484
33,526
140.0
6.00
116.91
116.92
1985
 
17,623
0.501
35,156
146.8
4.86
118.56
119.51
1986
 
18,806
0.512
36,717
153.3
4.44
119.03
121.47
1987
 
19,634
0.528
37,184
155.2
1.27
117.89
120.99
1988
 
21,204
0.549
38,647
161.3
3.94
115.94
121.57
1989
 
22,797
0.573
39,812
166.2
3.01
115.04
122.18
1990
 
22,299
0.598
37,306
155.7
-6.30
109.80
113.66
1991
 
22,312
0.618
36,118
150.8
-3.18
109.21
111.28
1992
 
23,695
0.634
37,363
156.0
3.44
111.22
112.42
1993
 
25,029
0.650
38,506
160.8
3.06
113.00
115.27
1994
 
25,962
0.664
39,126
163.3
1.61
114.43
115.12
1995
 
28,067
0.678
41,425
172.9
5.88
117.57
119.04
1996
 
28,935
0.692
41,812
174.6
0.93
117.63
117.03
1997
 
30,321
0.704
43,066
179.8
3.00
117.08
116.96
1998
 
32,817
0.710
46,243
193.1
7.38
119.37
119.37
1999
 
34,723
0.720
48,225
201.3
4.29
122.12
121.44
2000
 
37,038
0.738
50,173
209.5
4.04
122.04
121.24
2001
 
38,038
0.753
50,515
210.9
0.68
119.64
120.57
2002
 
39,244
0.763
51,440
214.8
1.83
119.64
123.41
2003
 
41,591
0.779
53,394
222.9
3.80
121.41
127.35
2004
 
44,292
0.798
55,485
231.6
3.92
123.49
129.57
2005
 
45,466
0.821
55,361
231.1
-0.22
123.73
127.47
2006
 
47,733
0.844
56,529
236.0
2.11
123.28
126.14
2007
 
49,174
0.866
56,779
237.0
0.44
121.10
124.22
2008
 
50,233
0.892
56,334
235.2
-0.78
121.08
122.96
2009
 
48,360
0.889
54,385
227.1
-3.46
119.15
123.03
2010
 
49,348
0.905
54,520
227.6
0.25
115.76
121.68
2011
 
53,015
0.928
57,126
238.5
4.78
120.22
124.31
2012
 
55,794
0.945
59,020
246.4
3.32
123.15
126.12
2013
 
55,391
0.958
57,831
241.4
-2.02
122.79
124.75
2014
 
57,017
0.971
58,707
245.1
1.51
122.25
123.18
2015
 
58,310
0.973
59,929
250.2
2.08
121.33
121.33
2016
 
59,602
0.983
60,643
253.2
1.19
122.83
121.71
2017
 
63,311
1.000
63,311
264.3
4.40
125.56
124.13
2018
 
65,665
1.020
64,348
268.6
1.64
125.95
123.18
2019
 
71,834
1.035
69,396
289.7
7.84
130.36
129.32
2020
 
76,435
1.046
73,049
305.0
5.26
129.41
129.21
2021
 
82,984
1.090
76,132
317.8
4.22
130.35
128.80
2022
 
84,484
1.160
72,804
303.9
-4.37
132.93
129.04
Source: Calculations by the Rhode Island Regional Economic Analysis Project (RI-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.

   
 
Rhode Island:
Per Capita Personal Income, 1969-2022
 
1969
 
4,015
0.189
21,262
100.0
N
102.14
1970
 
4,306
0.198
21,784
102.5
2.46
102.57
1971
 
4,499
0.206
21,833
102.7
0.22
100.63
1972
 
4,836
0.213
22,697
106.8
3.96
99.58
1973
 
5,158
0.225
22,970
108.0
1.20
96.18
1974
 
5,547
0.248
22,373
105.2
-2.60
95.05
1975
 
6,068
0.269
22,591
106.3
0.98
95.96
1976
 
6,600
0.283
23,296
109.6
3.12
96.00
1977
 
7,187
0.302
23,818
112.0
2.24
95.63
1978
 
7,868
0.323
24,376
114.6
2.34
94.16
1979
 
8,742
0.351
24,875
117.0
2.05
94.69
1980
 
9,901
0.389
25,433
119.6
2.24
97.22
1981
 
10,971
0.424
25,865
121.7
1.70
97.16
1982
 
11,799
0.448
26,355
124.0
1.89
98.41
1983
 
12,741
0.467
27,297
128.4
3.58
100.32
1984
 
13,890
0.484
28,676
134.9
5.05
100.01
1985
 
14,864
0.501
29,652
139.5
3.40
100.80
1986
 
15,799
0.512
30,847
145.1
4.03
102.05
1987
 
16,655
0.528
31,542
148.4
2.25
102.63
1988
 
18,289
0.549
33,334
156.8
5.68
104.86
1989
 
19,816
0.573
34,606
162.8
3.82
106.21
1990
 
20,309
0.598
33,975
159.8
-1.82
103.52
1991
 
20,431
0.618
33,073
155.6
-2.65
101.90
1992
 
21,305
0.634
33,593
158.0
1.57
101.08
1993
 
22,149
0.650
34,075
160.3
1.44
102.01
1994
 
22,689
0.664
34,192
160.8
0.34
100.61
1995
 
23,873
0.678
35,235
165.7
3.05
101.25
1996
 
24,599
0.692
35,547
167.2
0.88
99.49
1997
 
25,898
0.704
36,783
173.0
3.48
99.89
1998
 
27,493
0.710
38,741
182.2
5.32
100.00
1999
 
28,432
0.720
39,489
185.7
1.93
99.44
2000
 
30,350
0.738
41,112
193.4
4.11
99.34
2001
 
31,795
0.753
42,223
198.6
2.70
100.78
2002
 
32,801
0.763
42,995
202.2
1.83
103.15
2003
 
34,256
0.779
43,978
206.8
2.29
104.89
2004
 
35,867
0.798
44,930
211.3
2.17
104.93
2005
 
36,746
0.821
44,743
210.4
-0.42
103.02
2006
 
38,719
0.844
45,854
215.7
2.48
102.32
2007
 
40,608
0.866
46,887
220.5
2.25
102.58
2008
 
41,487
0.892
46,525
218.8
-0.77
101.55
2009
 
40,588
0.889
45,645
214.7
-1.89
103.26
2010
 
42,631
0.905
47,099
221.5
3.19
105.11
2011
 
44,099
0.928
47,519
223.5
0.89
103.40
2012
 
45,305
0.945
47,925
225.4
0.85
102.41
2013
 
45,112
0.958
47,099
221.5
-1.72
101.60
2014
 
46,639
0.971
48,021
225.9
1.96
100.76
2015
 
48,058
0.973
49,392
232.3
2.85
100.00
2016
 
48,523
0.983
49,371
232.2
-0.04
99.09
2017
 
50,423
1.000
50,423
237.2
2.13
98.86
2018
 
52,135
1.020
51,090
240.3
1.32
97.80
2019
 
55,105
1.035
53,235
250.4
4.20
99.20
2020
 
59,066
1.046
56,449
265.5
6.04
99.85
2021
 
63,663
1.090
58,406
274.7
3.47
98.81
2022
 
63,557
1.160
54,770
257.6
-6.23
97.08
Source: Calculations by the Rhode Island Regional Economic Analysis Project (RI-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 Rhode Island Regional Economic Analysis Project (RI-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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