Kent County vs. Rhode Island
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Kent County vs. Rhode Island
Kent County:
2022 Earnings = $6,463,932K
2022 Percent of State = 14.09%
Rhode Island:
2022 Earnings = $45,870,610K
2022 Percent of U.S. = 0.30%
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.
Kent County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Kent County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Kent 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 Kent County over time.
When measured in current dollars, Kent County's total industry earnings increased 2,101.27%, from $294M in 1970 to $6,464M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 274.95%, from $1,486M in 1970 to $5,570M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks Kent County's and Rhode Island'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, Kent County's real total industry earnings rose from $1,419M in 1969 to $5,570M in 2022, for a net gain of $4,151M, or 292.55%. In comparison, Rhode Island's real total industry earnings increased from $15,660M in 1969 to $39,529M in 2022, for a net gain of $23,869M, or 152.42%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Kent County's real total industry earnings 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 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.
Kent County's overall real total industry earnings growth was 292.55% over 1969-2022 outpaced Rhode Island's increase of 152.42%, and outpaced the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the Rhode Island Total: 1969-2022
Total Industry Earnings as a Percent of the Rhode Island Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total industry earnings growth of Kent County is to compare its individual percentage contributions to Rhode Island'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 Rhode Island's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Kent County's total industry earnings comprised 9.06% of Rhode Island's total industry earnings, while in 2022 it totaled 14.09% thereby yielding a +5.03% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
+5.03%
=
14.09%
-
9.06%
 
   
Kent County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Kent County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Kent 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, Kent County's real total industry earnings grew at an annual rate of 2.68% over 1970-2022. The county posted its highest growth in 1976 (10.42%) and recorded its lowest growth in 2008 (-4.66%). In 2022, Kent County's real total industry earnings declined by -0.97%
Kent County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Kent 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 shows the annual percent change in Kent 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, Kent County's annual real total industry earnings growth rate averaged 5.20%. It averaged 3.53% in the 1980s, 2.74% in the 1990s, 1.57% throughout the 2000s, 1.33% throughout the 2010s, -0.56% 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 Kent County noted in the previous graph with the corresponding decade averages for Rhode Island and the nation. As the chart reveals, Kent County's average annual real total industry earnings growth registered above Rhode Island's average throughout the 1970s (5.20% vs. 1.41%), led Rhode Island's average throughout the 1980s (3.53% vs. 3.06%), registered above Rhode Island's average in the 1990s (2.74% vs. 1.81%), registered above Rhode Island's average throughout the 2000s (1.57% vs. 1.27%), posted below Rhode Island's average throughout the 2010s (1.33% vs. 1.73%), and lagged Rhode Island's average over the 3 year period of the current decade, 2020-2022 (-0.56% vs. 1.02%).
Finally, relative to nationwide real total industry earnings growth trends, Kent County outperformed the nation throughout the 1970s (5.20% vs. 3.13%), outpaced the nation during the 1980s (3.53% vs. 2.62%), trailed the nation throughout the 1990s (2.74% vs. 3.43%), topped the nation during the 2000s (1.57% vs. 1.47%), trailed the nation during the 2010s (1.33% vs. 2.53%), and trailed the nation over 2020-2022 (-0.56% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
2.68
5.20
3.53
2.74
1.57
1.33
-0.56
-0.97
 
1.81
1.41
3.06
1.81
1.27
1.73
1.02
-0.24
 
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.

   
 
Kent County:
Total Industry Earnings, 1969-2022
 
1969
 
267,951
0.189
1,419,007
100.0
N
9.06
1970
 
293,646
0.198
1,485,612
104.7
4.69
9.25
1971
 
310,356
0.206
1,506,217
106.1
1.39
9.32
1972
 
350,072
0.213
1,642,913
115.8
9.08
9.55
1973
 
395,295
0.225
1,760,387
124.1
7.15
10.15
1974
 
435,386
0.248
1,756,084
123.8
-0.24
10.98
1975
 
464,741
0.269
1,730,235
121.9
-1.47
11.27
1976
 
541,291
0.283
1,910,461
134.6
10.42
11.73
1977
 
617,580
0.302
2,046,593
144.2
7.13
12.17
1978
 
712,549
0.323
2,207,674
155.6
7.87
12.64
1979
 
822,193
0.351
2,339,564
164.9
5.97
13.10
1980
 
898,600
0.389
2,308,364
162.7
-1.33
13.15
1981
 
976,888
0.424
2,303,166
162.3
-0.23
13.27
1982
 
1,008,572
0.448
2,252,735
158.8
-2.19
13.05
1983
 
1,089,941
0.467
2,335,121
164.6
3.66
13.01
1984
 
1,197,653
0.484
2,472,497
174.2
5.88
12.94
1985
 
1,281,873
0.501
2,557,200
180.2
3.43
12.75
1986
 
1,418,414
0.512
2,769,312
195.2
8.29
12.99
1987
 
1,568,934
0.528
2,971,353
209.4
7.30
13.26
1988
 
1,757,399
0.549
3,203,133
225.7
7.80
13.48
1989
 
1,883,277
0.573
3,288,935
231.8
2.68
13.68
1990
 
1,918,904
0.598
3,210,212
226.2
-2.39
13.60
1991
 
1,901,918
0.618
3,078,833
217.0
-4.09
13.73
1992
 
2,073,369
0.634
3,269,267
230.4
6.19
14.09
1993
 
2,174,517
0.650
3,345,411
235.8
2.33
14.26
1994
 
2,284,124
0.664
3,442,227
242.6
2.89
14.48
1995
 
2,375,901
0.678
3,506,658
247.1
1.87
14.41
1996
 
2,491,316
0.692
3,600,012
253.7
2.66
14.67
1997
 
2,645,949
0.704
3,758,077
264.8
4.39
14.78
1998
 
2,846,968
0.710
4,011,679
282.7
6.75
14.70
1999
 
3,083,660
0.720
4,282,802
301.8
6.76
14.96
2000
 
3,324,240
0.738
4,503,048
317.3
5.14
14.95
2001
 
3,570,366
0.753
4,741,396
334.1
5.29
15.36
2002
 
3,845,168
0.763
5,040,133
355.2
6.30
15.70
2003
 
4,142,978
0.779
5,318,738
374.8
5.53
15.98
2004
 
4,361,650
0.798
5,463,878
385.0
2.73
16.02
2005
 
4,433,803
0.821
5,398,715
380.5
-1.19
15.83
2006
 
4,603,294
0.844
5,451,556
384.2
0.98
15.68
2007
 
4,680,536
0.866
5,404,339
380.9
-0.87
15.67
2008
 
4,594,527
0.892
5,152,548
363.1
-4.66
15.43
2009
 
4,420,796
0.889
4,971,600
350.4
-3.51
15.37
2010
 
4,596,802
0.905
5,078,554
357.9
2.15
15.00
2011
 
4,682,670
0.928
5,045,763
355.6
-0.65
14.99
2012
 
4,795,055
0.945
5,072,307
357.5
0.53
14.82
2013
 
4,882,730
0.958
5,097,806
359.3
0.50
14.76
2014
 
4,943,649
0.971
5,090,196
358.7
-0.15
14.45
2015
 
5,089,712
0.973
5,231,001
368.6
2.77
14.38
2016
 
5,198,629
0.983
5,289,395
372.8
1.12
14.48
2017
 
5,397,159
1.000
5,397,159
380.3
2.04
14.55
2018
 
5,611,945
1.020
5,499,373
387.6
1.89
14.65
2019
 
5,870,793
1.035
5,671,551
399.7
3.13
14.78
2020
 
5,716,277
1.046
5,463,064
385.0
-3.68
14.30
2021
 
6,131,345
1.090
5,625,036
396.4
2.96
14.20
2022
 
6,463,932
1.160
5,570,290
392.5
-0.97
14.09
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_1200_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:
Total Industry Earnings, 1969-2022
 
1969
 
2,957,038
0.189
15,659,789
100.0
N
0.45
1970
 
3,173,667
0.198
16,056,192
102.5
2.53
0.46
1971
 
3,331,486
0.206
16,168,338
103.2
0.70
0.45
1972
 
3,663,811
0.213
17,194,533
109.8
6.35
0.45
1973
 
3,894,613
0.225
17,344,079
110.8
0.87
0.42
1974
 
3,964,775
0.248
15,991,510
102.1
-7.80
0.40
1975
 
4,124,310
0.269
15,354,840
98.1
-3.98
0.39
1976
 
4,615,049
0.283
16,288,600
104.0
6.08
0.39
1977
 
5,074,089
0.302
16,814,982
107.4
3.23
0.39
1978
 
5,636,785
0.323
17,464,323
111.5
3.86
0.38
1979
 
6,276,019
0.351
17,858,518
114.0
2.26
0.38
1980
 
6,831,269
0.389
17,548,472
112.1
-1.74
0.38
1981
 
7,358,972
0.424
17,349,928
110.8
-1.13
0.38
1982
 
7,728,397
0.448
17,262,060
110.2
-0.51
0.38
1983
 
8,375,682
0.467
17,944,301
114.6
3.95
0.38
1984
 
9,255,667
0.484
19,107,882
122.0
6.48
0.38
1985
 
10,053,903
0.501
20,056,461
128.1
4.96
0.38
1986
 
10,916,583
0.512
21,313,542
136.1
6.27
0.39
1987
 
11,829,095
0.528
22,402,740
143.1
5.11
0.39
1988
 
13,038,796
0.549
23,765,235
151.8
6.08
0.40
1989
 
13,766,018
0.573
24,040,827
153.5
1.16
0.40
1990
 
14,106,505
0.598
23,599,339
150.7
-1.84
0.38
1991
 
13,856,842
0.618
22,431,512
143.2
-4.95
0.37
1992
 
14,713,014
0.634
23,199,328
148.1
3.42
0.36
1993
 
15,244,098
0.650
23,452,458
149.8
1.09
0.36
1994
 
15,771,752
0.664
23,768,389
151.8
1.35
0.35
1995
 
16,491,633
0.678
24,340,457
155.4
2.41
0.35
1996
 
16,981,462
0.692
24,538,621
156.7
0.81
0.34
1997
 
17,899,302
0.704
25,422,617
162.3
3.60
0.34
1998
 
19,369,472
0.710
27,293,632
174.3
7.36
0.34
1999
 
20,607,633
0.720
28,621,315
182.8
4.86
0.34
2000
 
22,240,977
0.738
30,127,844
192.4
5.26
0.34
2001
 
23,244,151
0.753
30,867,907
197.1
2.46
0.34
2002
 
24,490,465
0.763
32,101,382
205.0
4.00
0.35
2003
 
25,920,024
0.779
33,276,021
212.5
3.66
0.36
2004
 
27,223,088
0.798
34,102,607
217.8
2.48
0.35
2005
 
28,013,842
0.821
34,110,392
217.8
0.02
0.35
2006
 
29,366,757
0.844
34,778,253
222.1
1.96
0.34
2007
 
29,871,870
0.866
34,491,288
220.3
-0.83
0.34
2008
 
29,770,583
0.892
33,386,322
213.2
-3.20
0.33
2009
 
28,759,024
0.889
32,342,218
206.5
-3.13
0.33
2010
 
30,637,905
0.905
33,848,802
216.2
4.66
0.34
2011
 
31,243,578
0.928
33,666,198
215.0
-0.54
0.33
2012
 
32,356,157
0.945
34,227,005
218.6
1.67
0.33
2013
 
33,078,157
0.958
34,535,197
220.5
0.90
0.32
2014
 
34,223,038
0.971
35,237,526
225.0
2.03
0.32
2015
 
35,390,032
0.973
36,372,452
232.3
3.22
0.32
2016
 
35,909,471
0.983
36,536,436
233.3
0.45
0.32
2017
 
37,081,297
1.000
37,081,297
236.8
1.49
0.31
2018
 
38,317,238
1.020
37,548,618
239.8
1.26
0.31
2019
 
39,712,066
1.035
38,364,327
245.0
2.17
0.31
2020
 
39,977,602
1.046
38,206,721
244.0
-0.41
0.30
2021
 
43,188,551
1.090
39,622,160
253.0
3.70
0.30
2022
 
45,870,610
1.160
39,528,976
252.4
-0.24
0.30
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_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 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_1200_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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