Walworth County vs. Wisconsin
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Walworth County vs. Wisconsin
Walworth County:
2022 TPI = $6,620,827K
2022 Percent of State = 1.83%
Wisconsin:
2022 TPI = $362,245,267K
2022 Percent of U.S. = 1.66%
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 Walworth County and Wisconsin 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.
Walworth County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Walworth County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Walworth 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 Walworth County over time.
When measured in current dollars, Walworth County's total personal income increased 2,648.78%, from $241M in 1970 to $6,621M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 368.21%, from $1,219M in 1970 to $5,705M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks Walworth County's and Wisconsin'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, Walworth County's real total personal income rose from $1,191M in 1969 to $5,705M in 2022, for a net gain of $4,515M, or 379.10%. In comparison, Wisconsin's real total personal income advanced from $86,981M in 1969 to $312,165M in 2022, for a net gain of $225,184M, or 258.89%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Walworth County's real total personal income growth in a broader context by offering direct comparisons across time with Wisconsin, 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.
Walworth County's overall real total personal income growth was 379.10% over 1969-2022 outpaced Wisconsin's increase of 258.89%, and outpaced the United States' increase of 348.76%.
Total Personal Income as a Percent of the Wisconsin Total: 1969-2022
Total Personal Income as a Percent of the Wisconsin Total: 1969-2022
Figure 4.
Another interesting and insightful way of comparing the total personal income growth of Walworth County is to compare its individual percentage contributions to Wisconsin'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 Wisconsin's total personal income, while a declining share shows it grew more slowly.
In 1969, Walworth County's total personal income comprised 1.37% of Wisconsin's total personal income, while in 2022 it equated to 1.83% thereby yielding a +0.46% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
+0.46%
=
1.83%
-
1.37%
 
   
Walworth County Real Total Personal Income:
Annual Percent Change, 1970-2022
Walworth County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of Walworth 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 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, Walworth County's real total personal income grew at an annual rate of 3.03% over 1970-2022. The county posted its highest growth in 1973 (7.58%) and recorded its lowest growth in 2022 (-3.59%). In 2022, Walworth County's real total personal income declined by -3.59%
Walworth County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Walworth 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 Walworth 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, Walworth County's annual real total personal income growth rate averaged 4.42%. It averaged 1.74% throughout the 1980s, 4.37% during the 1990s, 1.84% in the 2000s, 2.80% throughout the 2010s, 3.00% 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 Walworth County noted in the previous graph with the corresponding decade averages for Wisconsin and the nation. As the chart reveals, Walworth County's average annual real total personal income growth topped Wisconsin's average in the 1970s (4.42% vs. 3.44%), posted below Wisconsin's average in the 1980s (1.74% vs. 2.07%), surpassed Wisconsin's average throughout the 1990s (4.37% vs. 3.32%), outperformed Wisconsin's average in the 2000s (1.84% vs. 1.65%), led Wisconsin's average in the 2010s (2.80% vs. 2.04%), and surpassed Wisconsin's average over the 3 year period of the current decade, 2020-2022 (3.00% vs. 1.71%).
Finally, relative to nationwide real total personal income growth trends, Walworth County topped the nation over the 1970s (4.42% vs. 3.50%), fell below the nation throughout the 1980s (1.74% vs. 3.16%), recorded above the nation in the 1990s (4.37% vs. 3.27%), lagged the nation during the 2000s (1.84% vs. 2.06%), surpassed the nation over the 2010s (2.80% vs. 2.72%), and outgained the nation over 2020-2022 (3.00% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
3.03
4.42
1.74
4.37
1.84
2.80
3.00
-3.59
 
2.46
3.44
2.07
3.32
1.65
2.04
1.71
-4.16
 
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.

   
 
Walworth County:
Total Personal Income, 1969-2022
 
1969
 
224,873
0.189
1,190,875
100.0
N
1.37
1970
 
240,864
0.198
1,218,577
102.3
2.33
1.36
1971
 
266,479
0.206
1,293,273
108.6
6.13
1.41
1972
 
293,502
0.213
1,377,426
115.7
6.51
1.42
1973
 
332,731
0.225
1,481,768
124.4
7.58
1.44
1974
 
366,721
0.248
1,479,131
124.2
-0.18
1.44
1975
 
398,552
0.269
1,483,812
124.6
0.32
1.43
1976
 
437,581
0.283
1,544,422
129.7
4.08
1.43
1977
 
498,732
0.302
1,652,744
138.8
7.01
1.46
1978
 
564,996
0.323
1,750,514
147.0
5.92
1.48
1979
 
643,044
0.351
1,829,793
153.7
4.53
1.50
1980
 
699,170
0.389
1,796,059
150.8
-1.84
1.48
1981
 
769,608
0.424
1,814,471
152.4
1.03
1.49
1982
 
805,954
0.448
1,800,170
151.2
-0.79
1.48
1983
 
845,153
0.467
1,810,680
152.0
0.58
1.48
1984
 
925,986
0.484
1,911,654
160.5
5.58
1.47
1985
 
969,971
0.501
1,934,988
162.5
1.22
1.46
1986
 
1,018,105
0.512
1,987,749
166.9
2.73
1.46
1987
 
1,070,113
0.528
2,026,652
170.2
1.96
1.46
1988
 
1,131,862
0.549
2,062,995
173.2
1.79
1.44
1989
 
1,241,652
0.573
2,168,408
182.1
5.11
1.45
1990
 
1,309,786
0.598
2,191,194
184.0
1.05
1.45
1991
 
1,378,397
0.618
2,231,355
187.4
1.83
1.46
1992
 
1,495,228
0.634
2,357,660
198.0
5.66
1.48
1993
 
1,610,941
0.650
2,478,371
208.1
5.12
1.51
1994
 
1,744,655
0.664
2,629,235
220.8
6.09
1.54
1995
 
1,867,372
0.678
2,756,106
231.4
4.83
1.57
1996
 
1,978,564
0.692
2,859,073
240.1
3.74
1.57
1997
 
2,108,484
0.704
2,994,708
251.5
4.74
1.58
1998
 
2,281,055
0.710
3,214,247
269.9
7.33
1.59
1999
 
2,390,208
0.720
3,319,687
278.8
3.28
1.61
2000
 
2,616,200
0.738
3,543,930
297.6
6.75
1.65
2001
 
2,709,105
0.753
3,597,653
302.1
1.52
1.63
2002
 
2,782,872
0.763
3,647,707
306.3
1.39
1.63
2003
 
2,901,007
0.779
3,724,301
312.7
2.10
1.65
2004
 
3,018,746
0.798
3,781,610
317.5
1.54
1.64
2005
 
3,158,107
0.821
3,845,394
322.9
1.69
1.66
2006
 
3,344,425
0.844
3,960,712
332.6
3.00
1.66
2007
 
3,507,065
0.866
4,049,401
340.0
2.24
1.67
2008
 
3,607,282
0.892
4,045,399
339.7
-0.10
1.65
2009
 
3,536,712
0.889
3,977,364
334.0
-1.68
1.64
2010
 
3,637,255
0.905
4,018,445
337.4
1.03
1.64
2011
 
3,862,842
0.928
4,162,366
349.5
3.58
1.65
2012
 
4,024,176
0.945
4,256,856
357.5
2.27
1.65
2013
 
4,123,904
0.958
4,305,555
361.5
1.14
1.68
2014
 
4,242,057
0.971
4,367,806
366.8
1.45
1.66
2015
 
4,490,946
0.973
4,615,614
387.6
5.67
1.69
2016
 
4,649,356
0.983
4,730,532
397.2
2.49
1.72
2017
 
4,865,479
1.000
4,865,479
408.6
2.85
1.73
2018
 
5,097,625
1.020
4,995,370
419.5
2.67
1.72
2019
 
5,421,457
1.035
5,237,465
439.8
4.85
1.76
2020
 
5,817,761
1.046
5,560,053
466.9
6.16
1.78
2021
 
6,450,492
1.090
5,917,828
496.9
6.43
1.82
2022
 
6,620,827
1.160
5,705,495
479.1
-3.59
1.83
Source: Calculations by the Wisconsin Regional Economic Analysis Project (WI-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.

   
 
Wisconsin:
Total Personal Income, 1969-2022
 
1969
 
16,424,603
0.189
86,980,898
100.0
N
2.08
1970
 
17,648,753
0.198
89,288,440
102.7
2.65
2.06
1971
 
18,959,244
0.206
92,012,832
105.8
3.05
2.05
1972
 
20,731,568
0.213
97,294,763
111.9
5.74
2.04
1973
 
23,157,827
0.225
103,129,935
118.6
6.00
2.04
1974
 
25,436,474
0.248
102,595,386
118.0
-0.52
2.04
1975
 
27,871,968
0.269
103,767,565
119.3
1.14
2.05
1976
 
30,609,129
0.283
108,033,491
124.2
4.11
2.05
1977
 
34,210,389
0.302
113,369,529
130.3
4.94
2.07
1978
 
38,209,862
0.323
118,384,750
136.1
4.42
2.06
1979
 
42,797,838
0.351
121,781,971
140.0
2.87
2.06
1980
 
47,299,027
0.389
121,503,871
139.7
-0.23
2.04
1981
 
51,586,511
0.424
121,623,272
139.8
0.10
1.99
1982
 
54,425,987
0.448
121,565,270
139.8
-0.05
1.96
1983
 
57,213,708
0.467
122,576,288
140.9
0.83
1.93
1984
 
62,839,302
0.484
129,728,735
149.1
5.84
1.92
1985
 
66,243,939
0.501
132,149,575
151.9
1.87
1.89
1986
 
69,881,373
0.512
136,436,426
156.9
3.24
1.88
1987
 
73,507,230
0.528
139,212,965
160.1
2.04
1.87
1988
 
78,389,485
0.549
142,877,035
164.3
2.63
1.84
1989
 
85,446,559
0.573
149,222,960
171.6
4.44
1.86
1990
 
90,418,024
0.598
151,263,946
173.9
1.37
1.85
1991
 
94,089,052
0.618
152,311,736
175.1
0.69
1.85
1992
 
101,342,383
0.634
159,795,621
183.7
4.91
1.87
1993
 
106,615,006
0.650
164,023,086
188.6
2.65
1.89
1994
 
113,266,452
0.664
170,695,117
196.2
4.07
1.91
1995
 
119,152,526
0.678
175,860,504
202.2
3.03
1.90
1996
 
125,937,358
0.692
181,982,512
209.2
3.48
1.89
1997
 
133,808,682
0.704
190,050,254
218.5
4.43
1.89
1998
 
143,130,045
0.710
201,685,354
231.9
6.12
1.89
1999
 
148,737,033
0.720
206,576,343
237.5
2.43
1.86
2000
 
158,494,204
0.738
214,697,792
246.8
3.93
1.84
2001
 
166,593,201
0.753
221,233,435
254.3
3.04
1.85
2002
 
171,010,014
0.763
224,154,899
257.7
1.32
1.87
2003
 
175,794,284
0.779
225,683,986
259.5
0.68
1.86
2004
 
183,721,399
0.798
230,149,447
264.6
1.98
1.84
2005
 
189,779,153
0.821
231,080,099
265.7
0.40
1.80
2006
 
201,058,382
0.844
238,107,984
273.7
3.04
1.78
2007
 
210,529,869
0.866
243,086,435
279.5
2.09
1.77
2008
 
219,194,538
0.892
245,816,461
282.6
1.12
1.76
2009
 
216,211,889
0.889
243,150,537
279.5
-1.08
1.79
2010
 
222,260,933
0.905
245,554,205
282.3
0.99
1.77
2011
 
234,631,562
0.928
252,824,837
290.7
2.96
1.76
2012
 
244,508,303
0.945
258,645,887
297.4
2.30
1.76
2013
 
245,762,269
0.958
256,587,704
295.0
-0.80
1.75
2014
 
255,165,329
0.971
262,729,306
302.1
2.39
1.73
2015
 
266,132,029
0.973
273,519,799
314.5
4.11
1.72
2016
 
270,846,626
0.983
275,575,502
316.8
0.75
1.71
2017
 
281,979,549
1.000
281,979,549
324.2
2.32
1.69
2018
 
295,996,804
1.020
290,059,290
333.5
2.87
1.69
2019
 
307,907,603
1.035
297,457,907
342.0
2.55
1.68
2020
 
326,836,532
1.046
312,358,706
359.1
5.01
1.67
2021
 
355,048,009
1.090
325,729,130
374.5
4.28
1.66
2022
 
362,245,267
1.160
312,164,686
358.9
-4.16
1.66
Source: Calculations by the Wisconsin Regional Economic Analysis Project (WI-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 Wisconsin Regional Economic Analysis Project (WI-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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