Boone County vs. Illinois
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Boone County vs. Illinois
Boone County:
2022 TPI = $2,950,716K
2022 Percent of State = 0.35%
Illinois:
2022 TPI = $851,243,089K
2022 Percent of U.S. = 3.90%
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 Boone County and Illinois 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.
Boone County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Boone County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Boone 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 Boone County over time.
When measured in current dollars, Boone County's total personal income increased 2,488.76%, from $114M in 1970 to $2,951M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 340.95%, from $577M in 1970 to $2,543M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Boone County's and Illinois' annual real total personal income for the period 1969-2022 to illustrate real total personal income patterns over time. During this 54-year period, Boone County's real total personal income rose from $566M in 1969 to $2,543M in 2022, for a net gain of $1,977M, or 349.46%. In comparison, Illinois' real total personal income advanced from $256,763M in 1969 to $733,558M in 2022, for a net advance of $476,796M, or 185.69%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Boone County's real total 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 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.
Boone County's overall real total personal income growth was 349.46% over 1969-2022 outpaced Illinois' increase of 185.69%, and topped the United States' increase of 348.76%.
Total Personal Income as a Percent of the Illinois Total: 1969-2022
Total Personal Income as a Percent of the Illinois Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total personal income growth of Boone County is to trace its individual percentage contributions to Illinois' 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 Illinois' total personal income, while a declining share shows it grew more slowly.
In 1969, Boone County's total personal income comprised 0.22% of Illinois' total personal income, while in 2022 it comprised 0.35% thereby yielding a +0.13% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
+0.13%
=
0.35%
-
0.22%
 
   
Boone County Real Total Personal Income:
Annual Percent Change, 1970-2022
Boone County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Boone 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, Boone County's real total personal income grew at an annual rate of 2.95% over 1970-2022. The county posted its highest growth in 1984 (12.70%) and recorded its lowest growth in 1980 (-6.67%). In 2022, Boone County's real total personal income declined by -6.03%
Boone County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Boone 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 Boone 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, Boone County's annual real total personal income growth rate averaged 3.25%. It averaged 2.51% throughout the 1980s, 5.18% throughout the 1990s, 2.68% in the 2000s, 1.68% in the 2010s, 1.17% thus far this decade (2020-2022).
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Boone County noted in the previous graph with the corresponding decade averages for Illinois and the nation. As the chart reveals, Boone County's average annual real total personal income growth recorded above Illinois' average throughout the 1970s (3.25% vs. 2.52%), outpaced Illinois' average in the 1980s (2.51% vs. 1.90%), recorded above Illinois' average throughout the 1990s (5.18% vs. 3.00%), outpaced Illinois' average in the 2000s (2.68% vs. 1.10%), lagged Illinois' average throughout the 2010s (1.68% vs. 1.95%), and recorded above Illinois' average over the 3 year period of the current decade, 2020-2022 (1.17% vs. 0.92%).
Finally, relative to nationwide real total personal income growth trends, Boone County fell under the nation during the 1970s (3.25% vs. 3.50%), lagged the nation during the 1980s (2.51% vs. 3.16%), outpaced the nation over the 1990s (5.18% vs. 3.27%), exceeded the nation during the 2000s (2.68% vs. 2.06%), posted below the nation over the 2010s (1.68% vs. 2.72%), and trailed the nation over 2020-2022 (1.17% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
2.95
3.25
2.51
5.18
2.68
1.68
1.17
-6.03
 
2.03
2.52
1.90
3.00
1.10
1.95
0.92
-6.32
 
2.89
3.50
3.16
3.27
2.06
2.72
2.10
-4.19
 
   

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

   
 
Boone County:
Total Personal Income, 1969-2022
 
1969
 
106,828
0.189
565,736
100.0
N
0.22
1970
 
113,982
0.198
576,657
101.9
1.93
0.22
1971
 
127,652
0.206
619,520
109.5
7.43
0.23
1972
 
136,500
0.213
640,604
113.2
3.40
0.23
1973
 
155,062
0.225
690,546
122.1
7.80
0.23
1974
 
165,886
0.248
669,084
118.3
-3.11
0.23
1975
 
185,301
0.269
689,877
121.9
3.11
0.23
1976
 
197,434
0.283
696,834
123.2
1.01
0.23
1977
 
208,751
0.302
691,778
122.3
-0.73
0.22
1978
 
244,706
0.323
758,167
134.0
9.60
0.23
1979
 
271,903
0.351
773,705
136.8
2.05
0.24
1980
 
281,100
0.389
722,102
127.6
-6.67
0.22
1981
 
315,735
0.424
744,395
131.6
3.09
0.23
1982
 
321,775
0.448
718,713
127.0
-3.45
0.22
1983
 
343,509
0.467
735,944
130.1
2.40
0.22
1984
 
401,773
0.484
829,441
146.6
12.70
0.24
1985
 
435,613
0.501
869,001
153.6
4.77
0.25
1986
 
463,769
0.512
905,463
160.1
4.20
0.25
1987
 
476,572
0.528
902,564
159.5
-0.32
0.24
1988
 
534,230
0.549
973,717
172.1
7.88
0.25
1989
 
560,546
0.573
978,932
173.0
0.54
0.25
1990
 
582,173
0.598
973,941
172.2
-0.51
0.24
1991
 
593,054
0.618
960,038
169.7
-1.43
0.24
1992
 
652,575
0.634
1,028,974
181.9
7.18
0.25
1993
 
697,452
0.650
1,073,003
189.7
4.28
0.25
1994
 
789,809
0.664
1,190,260
210.4
10.93
0.27
1995
 
861,061
0.678
1,270,864
224.6
6.77
0.28
1996
 
924,524
0.692
1,335,959
236.1
5.12
0.28
1997
 
977,908
0.704
1,388,936
245.5
3.97
0.28
1998
 
1,052,013
0.710
1,482,397
262.0
6.73
0.29
1999
 
1,160,337
0.720
1,611,557
284.9
8.71
0.30
2000
 
1,185,046
0.738
1,605,275
283.7
-0.39
0.29
2001
 
1,219,789
0.753
1,619,863
286.3
0.91
0.29
2002
 
1,271,214
0.763
1,666,270
294.5
2.86
0.29
2003
 
1,343,454
0.779
1,724,721
304.9
3.51
0.30
2004
 
1,405,544
0.798
1,760,738
311.2
2.09
0.31
2005
 
1,530,439
0.821
1,863,503
329.4
5.84
0.32
2006
 
1,714,675
0.844
2,030,643
358.9
8.97
0.34
2007
 
1,849,723
0.866
2,135,766
377.5
5.18
0.35
2008
 
1,939,414
0.892
2,174,962
384.4
1.84
0.35
2009
 
1,856,268
0.889
2,087,547
369.0
-4.02
0.35
2010
 
1,897,084
0.905
2,095,901
370.5
0.40
0.35
2011
 
2,022,018
0.928
2,178,805
385.1
3.96
0.36
2012
 
2,097,782
0.945
2,219,077
392.2
1.85
0.35
2013
 
2,140,764
0.958
2,235,061
395.1
0.72
0.35
2014
 
2,167,745
0.971
2,232,004
394.5
-0.14
0.34
2015
 
2,236,562
0.973
2,298,648
406.3
2.99
0.34
2016
 
2,309,142
0.983
2,349,459
415.3
2.21
0.35
2017
 
2,411,276
1.000
2,411,276
426.2
2.63
0.35
2018
 
2,518,057
1.020
2,467,546
436.2
2.33
0.35
2019
 
2,551,592
1.035
2,464,997
435.7
-0.10
0.34
2020
 
2,696,225
1.046
2,576,791
455.5
4.54
0.34
2021
 
2,949,546
1.090
2,705,981
478.3
5.01
0.35
2022
 
2,950,716
1.160
2,542,778
449.5
-6.03
0.35
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_300_PSN
 
   

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

   
 
Illinois:
Total Personal Income, 1969-2022
 
1969
 
48,484,524
0.189
256,762,824
100.0
N
6.13
1970
 
51,524,271
0.198
260,671,208
101.5
1.52
6.02
1971
 
55,317,370
0.206
268,465,761
104.6
2.99
5.98
1972
 
60,029,922
0.213
281,724,808
109.7
4.94
5.91
1973
 
66,967,657
0.225
298,230,492
116.2
5.86
5.91
1974
 
73,216,354
0.248
295,310,588
115.0
-0.98
5.88
1975
 
79,866,258
0.269
297,342,733
115.8
0.69
5.86
1976
 
86,832,272
0.283
306,470,448
119.4
3.07
5.81
1977
 
95,459,667
0.302
316,343,011
123.2
3.22
5.78
1978
 
105,341,668
0.323
326,377,705
127.1
3.17
5.68
1979
 
115,574,101
0.351
328,868,056
128.1
0.76
5.57
1980
 
125,258,218
0.389
321,768,953
125.3
-2.16
5.41
1981
 
138,770,536
0.424
327,173,255
127.4
1.68
5.36
1982
 
146,908,425
0.448
328,132,999
127.8
0.29
5.29
1983
 
153,072,750
0.467
327,947,446
127.7
-0.06
5.16
1984
 
168,502,732
0.484
347,865,835
135.5
6.07
5.14
1985
 
177,117,004
0.501
353,329,485
137.6
1.57
5.05
1986
 
186,323,024
0.512
363,777,161
141.7
2.96
5.01
1987
 
196,407,522
0.528
371,969,853
144.9
2.25
5.00
1988
 
212,484,844
0.549
387,286,693
150.8
4.12
4.98
1989
 
226,699,892
0.573
395,906,275
154.2
2.23
4.92
1990
 
240,791,660
0.598
402,830,046
156.9
1.75
4.92
1991
 
246,145,686
0.618
398,461,628
155.2
-1.08
4.85
1992
 
265,619,959
0.634
418,826,804
163.1
5.11
4.91
1993
 
275,147,851
0.650
423,304,386
164.9
1.07
4.88
1994
 
289,797,793
0.664
436,731,860
170.1
3.17
4.88
1995
 
307,441,781
0.678
453,761,816
176.7
3.90
4.90
1996
 
326,997,896
0.692
472,519,827
184.0
4.13
4.91
1997
 
345,582,150
0.704
490,834,931
191.2
3.88
4.89
1998
 
366,594,082
0.710
516,569,789
201.2
5.24
4.83
1999
 
382,605,269
0.720
531,388,827
207.0
2.87
4.80
2000
 
411,220,857
0.738
557,043,777
216.9
4.83
4.77
2001
 
427,182,371
0.753
567,292,198
220.9
1.84
4.75
2002
 
432,381,648
0.763
566,753,153
220.7
-0.10
4.73
2003
 
440,480,118
0.779
565,486,582
220.2
-0.22
4.65
2004
 
457,834,274
0.798
573,533,108
223.4
1.42
4.57
2005
 
475,646,220
0.821
579,159,375
225.6
0.98
4.51
2006
 
506,021,647
0.844
599,267,701
233.4
3.47
4.48
2007
 
535,102,563
0.866
617,851,401
240.6
3.10
4.49
2008
 
551,159,732
0.892
618,099,957
240.7
0.04
4.44
2009
 
525,793,939
0.889
591,304,573
230.3
-4.34
4.36
2010
 
540,880,933
0.905
597,566,048
232.7
1.06
4.31
2011
 
568,230,348
0.928
612,290,794
238.5
2.46
4.27
2012
 
593,814,193
0.945
628,148,807
244.6
2.59
4.27
2013
 
605,681,569
0.958
632,360,874
246.3
0.67
4.31
2014
 
629,464,961
0.971
648,124,464
252.4
2.49
4.26
2015
 
657,080,243
0.973
675,320,654
263.0
4.20
4.25
2016
 
664,686,807
0.983
676,291,977
263.4
0.14
4.18
2017
 
685,632,726
1.000
685,632,726
267.0
1.38
4.12
2018
 
722,686,574
1.020
708,189,926
275.8
3.29
4.13
2019
 
741,717,231
1.035
716,545,005
279.1
1.18
4.04
2020
 
787,487,784
1.046
752,604,563
293.1
5.03
4.02
2021
 
853,520,944
1.090
783,039,554
305.0
4.04
3.99
2022
 
851,243,089
1.160
733,558,327
285.7
-6.32
3.90
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_300_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 Personal Income, 1969-2022
 
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
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_300_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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