Bond County vs. Illinois
Comparative Trends Analysis:
Per Capita Personal Income Growth and Change, 1969-2022
Introduction
Bond County vs. Illinois
Bond County:
2022 PCI = $45,366
2022 Percent of State = 67.05%
Illinois:
2022 PCI = $67,655
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.
Bond County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Bond County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Bond 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 Bond County over time.
When measured in current dollars, Bond County's per capita personal income increased 1,214.37%, from $3,452 in 1970 to $45,366 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 123.88%, from $17,462 in 1970 to $39,094 in 2022.
Real Per Capita Personal Income, 1969-2022
Real Per Capita Personal Income, 1969-2022
Figure 2.
Figure 2 traces Bond County's and Illinois' 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, Bond County's real per capita personal income rose from $17,149 in 1969 to $39,094 in 2022, for a net gain of $21,945, or 127.97%. In comparison, Illinois' real per capita personal income advanced from $23,260 in 1969 to $58,302 in 2022, for a net advance of $35,042, or 150.66%.
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Bond County's real per capita personal income growth in a broader context by offering direct comparisons across time with Illinois, 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.
Bond County's overall real per capita personal income growth was 127.97% over 1969-2022 trailed Illinois' increase of 150.66%, and fell below 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 Bond County and Illinois per capita personal income as a percent of the national average over 1969-2022.
In 1969, Bond County's per capita personal income amounted to 82.39% of the national average; in 2022, it approximated 69.29%. Similarly, in 1969, Illinois' per capita personal income totaled 111.74% of the national average; in 2022, it consisted of 103.34%.
Bond County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Bond County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Bond 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, Bond County's real per capita personal income grew at an annual rate of 1.65% over 1970-2022. The county posted its highest growth in 1973 (10.84%) and recorded its lowest growth in 1980 (-8.89%). In 2022, Bond County's real per capita personal income declined by -6.13%
Bond County Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Bond 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 Bond County's real per capita 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, Bond County's annual real per capita personal income growth rate averaged 2.95%. It averaged 1.30% in the 1980s, 2.10% during the 1990s, 0.30% during the 2000s, 1.31% during the 2010s, 2.67% 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 Bond County noted in the previous graph with the corresponding decade averages for Illinois and the nation. As the chart reveals, Bond County's average annual real per capita personal income growth exceeded Illinois' average throughout the 1970s (2.95% vs. 2.17%), fell below Illinois' average in the 1980s (1.30% vs. 1.91%), posted below Illinois' average during the 1990s (2.10% vs. 2.18%), fell below Illinois' average in the 2000s (0.30% vs. 0.75%), posted below Illinois' average throughout the 2010s (1.31% vs. 1.90%), and led Illinois' average over the 3 year period of the current decade, 2020-2022 (2.67% vs. 1.63%).
Finally, relative to nationwide real per capita personal income growth trends, Bond County led the nation over the 1970s (2.95% vs. 2.37%), recorded underneath the nation during the 1980s (1.30% vs. 2.19%), recorded above the nation in the 1990s (2.10% vs. 2.01%), recorded underneath the nation during the 2000s (0.30% vs. 1.10%), trailed the nation throughout the 2010s (1.31% vs. 1.97%), and recorded above the nation over 2020-2022 (2.67% vs. 1.78%).
   
 
Real* Per Capita Personal Income Growth:
Average Annual Percent Change
 
 
 
1.65
2.95
1.30
2.10
0.30
1.31
2.67
-6.13
 
1.78
2.17
1.91
2.18
0.75
1.90
1.63
-5.54
 
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.

   
 
Bond County:
Per Capita Personal Income, 1969-2022
 
1969
 
3,238
0.189
17,149
100.0
N
73.73
82.39
1970
 
3,452
0.198
17,462
101.8
1.83
74.52
82.22
1971
 
3,700
0.206
17,957
104.7
2.83
74.95
82.76
1972
 
4,086
0.213
19,176
111.8
6.79
76.63
84.13
1973
 
4,773
0.225
21,255
123.9
10.84
80.25
89.00
1974
 
4,884
0.248
19,698
114.9
-7.33
75.20
83.69
1975
 
5,825
0.269
21,687
126.5
10.10
82.46
92.11
1976
 
6,178
0.283
21,805
127.2
0.55
80.83
89.86
1977
 
6,784
0.302
22,482
131.1
3.10
81.06
90.27
1978
 
7,370
0.323
22,833
133.1
1.56
79.99
88.20
1979
 
7,961
0.351
22,652
132.1
-0.79
78.68
86.22
1980
 
8,034
0.389
20,639
120.4
-8.89
73.35
78.90
1981
 
9,074
0.424
21,394
124.8
3.66
74.83
80.36
1982
 
9,682
0.448
21,626
126.1
1.08
75.29
80.75
1983
 
9,831
0.467
21,063
122.8
-2.60
73.27
77.41
1984
 
11,270
0.484
23,266
135.7
10.46
76.33
81.14
1985
 
11,497
0.501
22,935
133.7
-1.42
74.00
77.97
1986
 
12,032
0.512
23,492
137.0
2.42
73.54
77.72
1987
 
12,475
0.528
23,626
137.8
0.57
72.35
76.88
1988
 
13,426
0.549
24,471
142.7
3.57
71.97
76.98
1989
 
14,589
0.573
25,478
148.6
4.12
73.43
78.19
1990
 
14,859
0.598
24,858
145.0
-2.44
70.68
75.74
1991
 
14,979
0.618
24,248
141.4
-2.45
70.40
74.71
1992
 
16,672
0.634
26,289
153.3
8.42
73.40
79.10
1993
 
17,441
0.650
26,832
156.5
2.07
74.86
80.32
1994
 
18,338
0.664
27,636
161.2
2.99
75.38
81.32
1995
 
17,924
0.678
26,455
154.3
-4.27
70.01
76.02
1996
 
19,045
0.692
27,521
160.5
4.03
70.49
77.03
1997
 
20,025
0.704
28,442
165.9
3.35
70.61
77.24
1998
 
20,766
0.710
29,261
170.6
2.88
69.51
75.53
1999
 
22,428
0.720
31,150
181.6
6.45
72.45
78.44
2000
 
23,674
0.738
32,070
187.0
2.95
71.58
77.49
2001
 
25,246
0.753
33,527
195.5
4.54
73.81
80.03
2002
 
24,943
0.763
32,694
190.6
-2.48
72.26
78.43
2003
 
25,294
0.779
32,472
189.4
-0.68
72.10
77.45
2004
 
26,464
0.798
33,151
193.3
2.09
72.77
77.42
2005
 
26,230
0.821
31,939
186.2
-3.66
69.54
73.54
2006
 
27,124
0.844
32,123
187.3
0.58
67.78
71.68
2007
 
26,790
0.866
30,932
180.4
-3.71
63.56
67.67
2008
 
28,490
0.892
31,950
186.3
3.29
65.89
69.74
2009
 
28,426
0.889
31,967
186.4
0.05
69.18
72.32
2010
 
29,558
0.905
32,656
190.4
2.15
70.20
72.88
2011
 
30,570
0.928
32,940
192.1
0.87
69.36
71.68
2012
 
30,534
0.945
32,300
188.3
-1.94
66.48
69.02
2013
 
31,349
0.958
32,730
190.9
1.33
67.08
70.61
2014
 
31,164
0.971
32,088
187.1
-1.96
64.21
67.33
2015
 
32,546
0.973
33,449
195.0
4.24
64.22
67.72
2016
 
33,604
0.983
34,190
199.4
2.22
65.45
68.62
2017
 
34,096
1.000
34,096
198.8
-0.28
64.27
66.85
2018
 
35,803
1.020
35,085
204.6
2.90
63.85
67.16
2019
 
37,606
1.035
36,330
211.8
3.55
65.15
67.70
2020
 
41,032
1.046
39,215
228.7
7.94
66.62
69.37
2021
 
45,397
1.090
41,648
242.9
6.21
67.48
70.46
2022
 
45,366
1.160
39,094
228.0
-6.13
67.05
69.29
Source: Calculations by the Illinois Regional Economic Analysis Project (IL-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.

   
 
Illinois:
Per Capita Personal Income, 1969-2022
 
1969
 
4,392
0.189
23,260
100.0
N
111.74
1970
 
4,632
0.198
23,432
100.7
0.74
110.33
1971
 
4,936
0.206
23,958
103.0
2.24
110.42
1972
 
5,332
0.213
25,024
107.6
4.45
109.79
1973
 
5,947
0.225
26,485
113.9
5.84
110.89
1974
 
6,494
0.248
26,195
112.6
-1.10
111.29
1975
 
7,064
0.269
26,299
113.1
0.40
111.70
1976
 
7,644
0.283
26,977
116.0
2.58
111.18
1977
 
8,369
0.302
27,734
119.2
2.80
111.36
1978
 
9,213
0.323
28,543
122.7
2.92
110.25
1979
 
10,118
0.351
28,791
123.8
0.87
109.59
1980
 
10,954
0.389
28,140
121.0
-2.26
107.57
1981
 
12,127
0.424
28,590
122.9
1.60
107.40
1982
 
12,860
0.448
28,725
123.5
0.47
107.26
1983
 
13,417
0.467
28,745
123.6
0.07
105.64
1984
 
14,765
0.484
30,482
131.1
6.04
106.31
1985
 
15,537
0.501
30,994
133.3
1.68
105.36
1986
 
16,362
0.512
31,946
137.3
3.07
105.69
1987
 
17,242
0.528
32,654
140.4
2.22
106.25
1988
 
18,655
0.549
34,002
146.2
4.13
106.96
1989
 
19,869
0.573
34,699
149.2
2.05
106.49
1990
 
21,024
0.598
35,171
151.2
1.36
107.16
1991
 
21,276
0.618
34,442
148.1
-2.07
106.12
1992
 
22,714
0.634
35,815
154.0
3.99
107.77
1993
 
23,299
0.650
35,844
154.1
0.08
107.30
1994
 
24,327
0.664
36,661
157.6
2.28
107.87
1995
 
25,602
0.678
37,787
162.5
3.07
108.59
1996
 
27,020
0.692
39,045
167.9
3.33
109.28
1997
 
28,360
0.704
40,280
173.2
3.16
109.39
1998
 
29,873
0.710
42,094
181.0
4.50
108.66
1999
 
30,958
0.720
42,996
184.9
2.14
108.27
2000
 
33,072
0.738
44,799
192.6
4.19
108.25
2001
 
34,206
0.753
45,425
195.3
1.40
108.43
2002
 
34,520
0.763
45,248
194.5
-0.39
108.55
2003
 
35,081
0.779
45,037
193.6
-0.47
107.42
2004
 
36,366
0.798
45,555
195.9
1.15
106.39
2005
 
37,720
0.821
45,929
197.5
0.82
105.75
2006
 
40,021
0.844
47,396
203.8
3.19
105.76
2007
 
42,148
0.866
48,666
209.2
2.68
106.47
2008
 
43,238
0.892
48,490
208.5
-0.36
105.84
2009
 
41,088
0.889
46,207
198.7
-4.71
104.53
2010
 
42,107
0.905
46,519
200.0
0.68
103.82
2011
 
44,074
0.928
47,491
204.2
2.09
103.34
2012
 
45,932
0.945
48,588
208.9
2.31
103.83
2013
 
46,731
0.958
48,790
209.8
0.42
105.25
2014
 
48,531
0.971
49,970
214.8
2.42
104.85
2015
 
50,682
0.973
52,089
223.9
4.24
105.46
2016
 
51,340
0.983
52,237
224.6
0.28
104.84
2017
 
53,049
1.000
53,049
228.1
1.56
104.01
2018
 
56,072
1.020
54,947
236.2
3.58
105.18
2019
 
57,721
1.035
55,762
239.7
1.48
103.91
2020
 
61,587
1.046
58,859
253.1
5.55
104.11
2021
 
67,278
1.090
61,722
265.4
4.86
104.42
2022
 
67,655
1.160
58,302
250.7
-5.54
103.34
Source: Calculations by the Illinois Regional Economic Analysis Project (IL-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 Illinois Regional Economic Analysis Project (IL-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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