Nye County vs. Nevada | Total Personal Income Trends over 1969-2022

Introduction

Nye County:

2022 TPI = $2,356,607K

2022 Percent of State = 1.19%

Nevada:

2022 TPI = $197,290,898K

2022 Percent of U.S. = 0.90%

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 Nye County and Nevada 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.

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

Figure 1.

Figure 1 depicts Nye 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 Nye County over time.

When measured in current dollars, Nye County's total personal income increased 8,014.76%, from $29M in 1970 to $2,357M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 1,282.21%, from $147M in 1970 to $2,031M in 2022.

Real Total Personal Income, 1969-2022 (Millions)

Figure 2.

Figure 2 traces Nye County's and Nevada'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, Nye County's real total personal income rose from $155M in 1969 to $2,031M in 2022, for a net gain of $1,876M, or 1,210.99%. In comparison, Nevada's real total personal income advanced from $12,067M in 1969 to $170,015M in 2022, for a net gain of $157,948M, or 1,308.93%.

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

Figure 3.

Figure 3 portrays Nye County's real total personal income growth in a broader context by offering direct comparisons across time with Nevada, 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.

Nye County's overall real total personal income growth was 1,210.99% over 1969-2022 trailed Nevada's increase of 1,308.93%, and outpaced the United States' increase of 348.76%.

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

Figure 4.

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

In 1969, Nye County's total personal income comprised 1.28% of Nevada's total personal income, while in 2022 it totaled 1.19% thereby yielding a -0.09% share-shift.

Total Personal Income Share-Shift

2022 vs. 1969

	Share- Shift*		2022	vs.	1969
Nye County	-0.09%	=	1.19%	-	1.28%

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

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

Figure 5.

Figure 5 displays the short-run pattern of Nye 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, Nye County's real total personal income grew at an annual rate of 5.11% over 1970-2022. The county posted its highest growth in 1980 (21.03%) and posted its lowest growth in 2011 (-5.57%). In 2022, Nye County's real total personal income declined by -3.14%

Nye 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 illustrates the annual percent change in Nye County's real total personal income 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, Nye County's annual real total personal income growth rate averaged 3.96%. It averaged 8.34% in the 1980s, 7.31% in the 1990s, 4.69% in the 2000s, 1.61% during the 2010s, 3.99% 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 Nye County noted in the previous graph with the corresponding decade averages for Nevada and the nation. As the chart reveals, Nye County's average annual real total personal income growth lagged Nevada's average during the 1970s (3.96% vs. 7.08%), outpaced Nevada's average throughout the 1980s (8.34% vs. 5.08%), lagged Nevada's average in the 1990s (7.31% vs. 7.65%), outperformed Nevada's average during the 2000s (4.69% vs. 3.06%), trailed Nevada's average throughout the 2010s (1.61% vs. 3.53%), and topped Nevada's average over the 3 year period of the current decade, 2020-2022 (3.99% vs. 3.50%).

Finally, relative to nationwide real total personal income growth trends, Nye County topped the nation during the 1970s (3.96% vs. 3.50%), surpassed the nation in the 1980s (8.34% vs. 3.16%), led the nation over the 1990s (7.31% vs. 3.27%), recorded above the nation throughout the 2000s (4.69% vs. 2.06%), lagged the nation throughout the 2010s (1.61% vs. 2.72%), and outperformed the nation over 2020-2022 (3.99% 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
	%	%	%	%	%	%	%	%
Nye	5.11	3.96	8.34	7.31	4.69	1.61	3.99	-3.14
Nevada	5.18	7.08	5.08	7.65	3.06	3.53	3.50	-3.48
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.

Nye County:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Statewide Total
1969	29,251	0.189	154,907	100.0	N	1.28
1970	29,041	0.198	146,924	94.8	-5.15	1.13
1971	31,759	0.206	154,132	99.5	4.91	1.11
1972	34,357	0.213	161,240	104.1	4.61	1.07
1973	37,695	0.225	167,869	108.4	4.11	1.04
1974	41,213	0.248	166,228	107.3	-0.98	1.02
1975	47,155	0.269	175,558	113.3	5.61	1.04
1976	52,268	0.283	184,477	119.1	5.08	1.01
1977	59,688	0.302	197,800	127.7	7.22	1.00
1978	70,598	0.323	218,732	141.2	10.58	0.98
1979	79,661	0.351	226,677	146.3	3.63	0.95
1980	106,796	0.389	274,342	177.1	21.03	1.10
1981	137,028	0.424	323,065	208.6	17.76	1.25
1982	147,796	0.448	330,115	213.1	2.18	1.26
1983	151,576	0.467	324,741	209.6	-1.63	1.21
1984	164,238	0.484	339,062	218.9	4.41	1.20
1985	179,410	0.501	357,904	231.0	5.56	1.21
1986	191,597	0.512	374,074	241.5	4.52	1.20
1987	204,067	0.528	386,476	249.5	3.32	1.17
1988	244,566	0.549	445,760	287.8	15.34	1.23
1989	283,011	0.573	494,247	319.1	10.88	1.27
1990	295,711	0.598	494,707	319.4	0.09	1.18
1991	320,398	0.618	518,662	334.8	4.84	1.16
1992	343,552	0.634	541,709	349.7	4.44	1.13
1993	372,708	0.650	573,397	370.2	5.85	1.13
1994	427,993	0.664	644,995	416.4	12.49	1.17
1995	474,430	0.678	700,224	452.0	8.56	1.18
1996	538,403	0.692	778,005	502.2	11.11	1.21
1997	599,966	0.704	852,140	550.1	9.53	1.24
1998	669,233	0.710	943,020	608.8	10.66	1.23
1999	716,363	0.720	994,935	642.3	5.51	1.22
2000	800,959	0.738	1,084,987	700.4	9.05	1.25
2001	782,970	0.753	1,039,773	671.2	-4.17	1.15
2002	821,470	0.763	1,076,759	695.1	3.56	1.17
2003	906,885	0.779	1,164,255	751.6	8.13	1.22
2004	1,019,963	0.798	1,277,717	824.8	9.75	1.24
2005	1,150,805	0.821	1,401,251	904.6	9.67	1.25
2006	1,260,287	0.844	1,492,524	963.5	6.51	1.27
2007	1,357,534	0.866	1,567,465	1,011.9	5.02	1.31
2008	1,389,812	0.892	1,558,609	1,006.2	-0.56	1.36
2009	1,385,232	0.889	1,557,823	1,005.7	-0.05	1.43
2010	1,445,048	0.905	1,596,491	1,030.6	2.48	1.43
2011	1,399,138	0.928	1,507,627	973.2	-5.57	1.34
2012	1,354,004	0.945	1,432,293	924.6	-5.00	1.25
2013	1,378,689	0.958	1,439,418	929.2	0.50	1.27
2014	1,444,522	0.971	1,487,343	960.2	3.33	1.25
2015	1,529,644	0.973	1,572,107	1,014.9	5.70	1.22
2016	1,554,603	0.983	1,581,746	1,021.1	0.61	1.20
2017	1,637,877	1.000	1,637,877	1,057.3	3.55	1.18
2018	1,738,345	1.020	1,703,475	1,099.7	4.01	1.17
2019	1,877,082	1.035	1,813,378	1,170.6	6.45	1.18
2020	2,085,919	1.046	1,993,519	1,286.9	9.93	1.23
2021	2,285,465	1.090	2,096,738	1,353.6	5.18	1.19
2022	2,356,607	1.160	2,030,805	1,311.0	-3.14	1.19

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 Nevada Regional Economic Analysis Project (NV-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.

Nevada:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Nationwide Total
1969	2,278,607	0.189	12,066,976	100.0	N	0.29
1970	2,560,413	0.198	12,953,622	107.3	7.35	0.30
1971	2,860,381	0.206	13,881,975	115.0	7.17	0.31
1972	3,196,764	0.213	15,002,647	124.3	8.07	0.31
1973	3,630,058	0.225	16,165,923	134.0	7.75	0.32
1974	4,025,238	0.248	16,235,381	134.5	0.43	0.32
1975	4,543,971	0.269	16,917,241	140.2	4.20	0.33
1976	5,170,461	0.283	18,248,901	151.2	7.87	0.35
1977	5,977,935	0.302	19,810,230	164.2	8.56	0.36
1978	7,225,731	0.323	22,387,319	185.5	13.01	0.39
1979	8,372,017	0.351	23,822,716	197.4	6.41	0.40
1980	9,681,438	0.389	24,870,114	206.1	4.40	0.42
1981	10,998,173	0.424	25,929,914	214.9	4.26	0.42
1982	11,752,694	0.448	26,250,685	217.5	1.24	0.42
1983	12,530,750	0.467	26,846,238	222.5	2.27	0.42
1984	13,634,293	0.484	28,147,346	233.3	4.85	0.42
1985	14,791,280	0.501	29,507,022	244.5	4.83	0.42
1986	15,979,144	0.512	31,197,688	258.5	5.73	0.43
1987	17,406,994	0.528	32,966,543	273.2	5.67	0.44
1988	19,826,291	0.549	36,136,501	299.5	9.62	0.46
1989	22,328,914	0.573	38,994,977	323.2	7.91	0.48
1990	25,039,231	0.598	41,889,136	347.1	7.42	0.51
1991	27,543,572	0.618	44,587,645	369.5	6.44	0.54
1992	30,459,859	0.634	48,028,791	398.0	7.72	0.56
1993	32,932,912	0.650	50,666,018	419.9	5.49	0.58
1994	36,442,306	0.664	54,919,383	455.1	8.39	0.61
1995	40,075,451	0.678	59,148,465	490.2	7.70	0.64
1996	44,336,734	0.692	64,067,647	530.9	8.32	0.67
1997	48,450,166	0.704	68,814,416	570.3	7.41	0.69
1998	54,217,238	0.710	76,397,816	633.1	11.02	0.71
1999	58,623,619	0.720	81,420,562	674.7	6.57	0.73
2000	64,312,598	0.738	87,118,471	722.0	7.00	0.75
2001	68,026,741	0.753	90,338,558	748.6	3.70	0.76
2002	69,952,742	0.763	91,691,998	759.9	1.50	0.76
2003	74,518,428	0.779	95,666,454	792.8	4.33	0.79
2004	82,524,683	0.798	103,379,412	856.7	8.06	0.82
2005	92,194,143	0.821	112,258,019	930.3	8.59	0.87
2006	99,485,129	0.844	117,817,538	976.4	4.95	0.88
2007	103,705,970	0.866	119,743,173	992.3	1.63	0.87
2008	102,535,875	0.892	114,989,206	952.9	-3.97	0.83
2009	96,982,751	0.889	109,066,195	903.8	-5.15	0.80
2010	100,750,401	0.905	111,309,191	922.4	2.06	0.80
2011	104,596,400	0.928	112,706,780	934.0	1.26	0.79
2012	108,696,140	0.945	114,981,002	952.9	2.02	0.78
2013	108,914,362	0.958	113,711,866	942.3	-1.10	0.77
2014	115,514,106	0.971	118,938,341	985.7	4.60	0.78
2015	125,088,591	0.973	128,561,024	1,065.4	8.09	0.81
2016	129,879,146	0.983	132,146,785	1,095.1	2.79	0.82
2017	138,846,976	1.000	138,846,976	1,150.6	5.07	0.83
2018	148,408,130	1.020	145,431,154	1,205.2	4.74	0.85
2019	159,292,887	1.035	153,886,842	1,275.3	5.81	0.87
2020	170,269,224	1.046	162,726,835	1,348.5	5.74	0.87
2021	192,006,059	1.090	176,150,732	1,459.8	8.25	0.90
2022	197,290,898	1.160	170,015,337	1,408.9	-3.48	0.90

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 Nevada Regional Economic Analysis Project (NV-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 Nevada Regional Economic Analysis Project (NV-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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