Morgan County vs. Colorado
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2017
Introduction
Morgan County:
2017 Earnings = $858,383K
2017 Percent of State = 0.4%
Colorado:
2017 Earnings = $221,162,417K
2017 Percent of State = 1.9%
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.
Morgan County Total Industry Earnings, 1969-2017
Current vs. Constant Dollars (Millions)
Morgan County Total Industry Earnings, 1969-2017
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Morgan County's annual total industry earnings over 1969-2017 in current and constant (2012) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Morgan County over time.
When measured in current dollars, Morgan County's total industry earnings increased 1,576.2%, from $51M in 1969 to $858M in 2017. When measured in constant 2012 dollars to adjust for inflation, it advanced 216.3%, from $256M in 1969 to $809M in 2017.
Real Total Industry Earnings, 1969-2017 (Millions)
Real Total Industry Earnings, 1969-2017 (Millions)
Figure 2.
Figure 2 tracks Morgan County's and Colorado's annual real total industry earnings for the period 1969-2017 to illustrate real total industry earnings patterns over time. During this 49-year period, Morgan County's real total industry earnings rose from $256M in 1969 to $809M in 2017, for a net gain of $553M, or 216.3%. In comparison, Colorado's real total industry earnings advanced from $33,600M in 1969 to $208,500M in 2017, for a net advance of $174,900M, or 520.5%.
Real Total Industry Earnings Indices (1969=100): 1969-2017
Real Total Industry Earnings Indices (1969=100): 1969-2017
Figure 3.
Figure 3 portrays Morgan County's real total industry earnings growth in a broader context by offering direct comparisons across time with Colorado, 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.
Morgan County's overall real total industry earnings growth was 216.3% over 1969-2017 trailed Colorado's increase of 520.5%, and fell below the United States' increase of 242.6%.
Total Industry Earnings as a Percent of the Colorado Total: 1969-2017
Total Industry Earnings as a Percent of the Colorado Total: 1969-2017
Figure 4.
Another interesting and insightful way of comparing the total industry earnings growth of Morgan County is to trace its individual percentage contributions to Colorado'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 Colorado's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Morgan County's total industry earnings totaled 0.76% of Colorado's total industry earnings, while in 2017 it equated to 0.39% thereby yielding a -0.37% share-shift.
   
 
Total Industry Earnings Share-Shift
2017 vs. 1969
 
Share-
Shift*
 
2017
vs.
1969
-0.37%
=
0.39%
-
0.76%
 
   
Morgan County Real Total Industry Earnings:
Annual Percent Change, 1970-2017
Morgan County Real Total Industry Earnings:
Annual Percent Change, 1970-2017
Figure 5.
Figure 5 shows the short-run pattern of Morgan County's real total industry earnings growth by tracking the year-to-year percent change over 1970-2017. The average annual percent change for the entire 48-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, Morgan County's real total industry earnings grew at an annual rate of 2.75% over 1970-2017. The county recorded its highest growth in 1979 (26.54%) and posted its lowest growth in 1975 (-18.28%). In 2017, Morgan County's real total industry earnings grew by 2.96%
Morgan County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2017
Morgan County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2017
Figure 6.
Over the past four 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 Morgan County's real total industry earnings since 1970, but this time they are displayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, and 2010-2017.
During the 1970s, Morgan County's annual real total industry earnings growth rate averaged 4.83%. It averaged 0.59% during the 1980s, 4.62% throughout the 1990s, -0.58% throughout the 2000s, and 4.71% thus far this decade (2010 to 2017).
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 Morgan County noted in the previous graph with the corresponding decade averages for Colorado and the nation. As the chart reveals, Morgan County's average annual real total industry earnings growth amounted to less than Colorado's average in the 1970s (4.83% vs. 6.05%), amounted to less than Colorado's average during the 1980s (0.59% vs. 2.49%), fell below Colorado's average during the 1990s (4.62% vs. 6.05%), posted below Colorado's average during the 2000s (-0.58% vs. 1.36%), and outpaced Colorado's average over the 8 year period of the last decade, 2010-2017 (4.71% vs. 3.66%).
Finally, relative to nationwide real total industry earnings growth trends, Morgan County exceeded the nation during the 1970s (4.83% vs. 3.13%), lagged the nation during the 1980s (0.59% vs. 2.61%), led the nation during the 1990s (4.62% vs. 3.44%), fell below the nation during the 2000s (-0.58% vs. 1.47%), and outpaced the nation over 2010-2017 (4.71% vs. 2.46%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
2.75
4.83
0.59
4.62
-0.58
4.71
2.96
 
3.93
6.05
2.49
6.05
1.36
3.66
4.88
 
2.63
3.13
2.61
3.44
1.47
2.46
2.86
 
   

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

   
 
Morgan County:
Total Industry Earnings, 1969-2017
 
1969
 
51,210
0.200
255,858
100.0
N
0.76
1970
 
57,974
0.210
276,712
108.2
8.15
0.77
1971
 
66,207
0.218
303,132
118.5
9.55
0.78
1972
 
77,999
0.226
345,342
135.0
13.92
0.80
1973
 
84,921
0.238
356,781
139.4
3.31
0.76
1974
 
107,523
0.263
409,144
159.9
14.68
0.87
1975
 
95,185
0.285
334,334
130.7
-18.28
0.71
1976
 
103,054
0.300
343,147
134.1
2.64
0.69
1977
 
92,998
0.320
290,746
113.6
-15.27
0.56
1978
 
102,506
0.342
299,629
117.1
3.06
0.53
1979
 
141,238
0.373
379,152
148.2
26.54
0.63
1980
 
156,844
0.413
380,117
148.6
0.25
0.62
1981
 
164,745
0.450
366,442
143.2
-3.60
0.57
1982
 
146,308
0.475
308,302
120.5
-15.87
0.47
1983
 
156,076
0.495
315,471
123.3
2.33
0.47
1984
 
195,085
0.513
379,964
148.5
20.44
0.53
1985
 
184,989
0.531
348,156
136.1
-8.37
0.48
1986
 
196,594
0.543
362,118
141.5
4.01
0.49
1987
 
201,716
0.560
360,439
140.9
-0.46
0.49
1988
 
213,969
0.582
367,954
143.8
2.09
0.49
1989
 
234,613
0.607
386,576
151.1
5.06
0.50
1990
 
248,432
0.634
392,127
153.3
1.44
0.50
1991
 
273,541
0.655
417,792
163.3
6.55
0.51
1992
 
293,502
0.672
436,642
170.7
4.51
0.50
1993
 
321,696
0.689
466,957
182.5
6.94
0.51
1994
 
336,259
0.703
478,116
186.9
2.39
0.50
1995
 
339,369
0.718
472,586
184.7
-1.16
0.47
1996
 
370,468
0.733
505,096
197.4
6.88
0.47
1997
 
392,144
0.746
525,500
205.4
4.04
0.46
1998
 
422,009
0.752
561,063
219.3
6.77
0.44
1999
 
461,734
0.763
604,855
236.4
7.81
0.44
2000
 
438,113
0.782
559,996
218.9
-7.42
0.37
2001
 
488,849
0.797
613,069
239.6
9.48
0.40
2002
 
497,047
0.808
615,241
240.5
0.35
0.40
2003
 
519,552
0.824
630,846
246.6
2.54
0.42
2004
 
521,946
0.844
618,339
241.7
-1.98
0.40
2005
 
542,122
0.868
624,478
244.1
0.99
0.39
2006
 
553,591
0.892
620,799
242.6
-0.59
0.38
2007
 
550,125
0.914
601,637
235.1
-3.09
0.36
2008
 
558,051
0.942
592,537
231.6
-1.51
0.36
2009
 
532,206
0.941
565,611
221.1
-4.54
0.36
2010
 
612,371
0.957
639,853
250.1
13.13
0.40
2011
 
692,112
0.981
705,294
275.7
10.23
0.43
2012
 
718,843
1.000
718,843
281.0
1.92
0.42
2013
 
731,720
1.013
722,002
282.2
0.44
0.40
2014
 
817,830
1.029
795,029
310.7
10.11
0.41
2015
 
828,634
1.031
803,516
314.0
1.07
0.40
2016
 
819,224
1.042
785,939
307.2
-2.19
0.40
2017
 
858,383
1.061
809,238
316.3
2.96
0.39
Source: Calculations by the Colorado Regional Economic Analysis Project (CO-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2018
REAP_PI_CA1400_1200_PSN
 
   

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

   
 
Colorado:
Total Industry Earnings, 1969-2017
 
1969
 
6,724,983
0.200
33,599,715
100.0
N
1.03
1970
 
7,495,076
0.210
35,774,311
106.5
6.47
1.08
1971
 
8,474,660
0.218
38,801,612
115.5
8.46
1.14
1972
 
9,702,455
0.226
42,957,828
127.9
10.71
1.18
1973
 
11,150,187
0.238
46,845,589
139.4
9.05
1.21
1974
 
12,384,129
0.263
47,123,779
140.3
0.59
1.24
1975
 
13,407,359
0.285
47,092,936
140.2
-0.07
1.26
1976
 
14,859,586
0.300
49,479,176
147.3
5.07
1.26
1977
 
16,688,001
0.320
52,172,829
155.3
5.44
1.28
1978
 
19,387,462
0.342
56,670,258
168.7
8.62
1.31
1979
 
22,397,060
0.373
60,124,721
178.9
6.10
1.36
1980
 
25,291,786
0.413
61,295,589
182.4
1.95
1.41
1981
 
28,774,344
0.450
64,002,723
190.5
4.42
1.47
1982
 
31,263,055
0.475
65,877,982
196.1
2.93
1.52
1983
 
33,361,250
0.495
67,431,883
200.7
2.36
1.52
1984
 
36,517,512
0.513
71,124,617
211.7
5.48
1.50
1985
 
38,581,940
0.531
72,612,527
216.1
2.09
1.47
1986
 
40,006,327
0.543
73,690,048
219.3
1.48
1.43
1987
 
41,440,001
0.560
74,047,604
220.4
0.49
1.38
1988
 
44,054,666
0.582
75,759,086
225.5
2.31
1.35
1989
 
46,634,670
0.607
76,840,781
228.7
1.43
1.34
1990
 
49,768,210
0.634
78,554,510
233.8
2.23
1.35
1991
 
53,152,418
0.655
81,182,194
241.6
3.35
1.40
1992
 
58,313,435
0.672
86,752,708
258.2
6.86
1.43
1993
 
63,401,162
0.689
92,029,789
273.9
6.08
1.49
1994
 
67,828,060
0.703
96,442,571
287.0
4.79
1.52
1995
 
72,747,004
0.718
101,303,427
301.5
5.04
1.55
1996
 
78,681,110
0.733
107,273,894
319.3
5.89
1.58
1997
 
85,371,755
0.746
114,404,078
340.5
6.65
1.61
1998
 
95,558,909
0.752
127,045,986
378.1
11.05
1.67
1999
 
105,294,527
0.763
137,931,996
410.5
8.57
1.72
2000
 
118,060,570
0.782
150,905,055
449.1
9.41
1.79
2001
 
122,914,630
0.797
154,148,123
458.8
2.15
1.79
2002
 
123,161,869
0.808
152,448,810
453.7
-1.10
1.76
2003
 
124,745,200
0.824
151,467,010
450.8
-0.64
1.72
2004
 
129,756,082
0.844
153,719,399
457.5
1.49
1.69
2005
 
137,449,768
0.868
158,330,378
471.2
3.00
1.71
2006
 
146,429,282
0.892
164,206,251
488.7
3.71
1.72
2007
 
153,571,814
0.914
167,951,852
499.9
2.28
1.73
2008
 
156,143,425
0.942
165,792,552
493.4
-1.29
1.73
2009
 
147,498,080
0.941
156,756,095
466.5
-5.45
1.70
2010
 
151,254,289
0.957
158,042,202
470.4
0.82
1.68
2011
 
160,436,754
0.981
163,492,427
486.6
3.45
1.70
2012
 
169,752,960
1.000
169,752,960
505.2
3.83
1.71
2013
 
183,684,587
1.013
181,245,029
539.4
6.77
1.80
2014
 
198,826,875
1.029
193,283,504
575.3
6.64
1.86
2015
 
205,119,926
1.031
198,902,242
592.0
2.91
1.85
2016
 
207,209,497
1.042
198,790,710
591.6
-0.06
1.82
2017
 
221,162,417
1.061
208,500,200
620.5
4.88
1.86
Source: Calculations by the Colorado Regional Economic Analysis Project (CO-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2018
REAP_PI_CA1400_1200_PSN
 
   

Tip: 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, 1969-2017
 
1969
 
655,222,000
0.200
3,273,654,759
100.0
N
1970
 
695,122,000
0.210
3,317,846,404
101.3
1.35
1971
 
744,129,000
0.218
3,407,028,067
104.1
2.69
1972
 
821,953,000
0.226
3,639,214,558
111.2
6.81
1973
 
921,321,000
0.238
3,870,771,364
118.2
6.36
1974
 
996,515,000
0.263
3,791,914,003
115.8
-2.04
1975
 
1,062,436,000
0.285
3,731,773,797
114.0
-1.59
1976
 
1,176,158,000
0.300
3,916,349,228
119.6
4.95
1977
 
1,306,927,000
0.320
4,085,934,471
124.8
4.33
1978
 
1,479,559,000
0.342
4,324,804,887
132.1
5.85
1979
 
1,652,190,000
0.373
4,435,290,328
135.5
2.55
1980
 
1,788,607,000
0.413
4,334,755,950
132.4
-2.27
1981
 
1,963,955,000
0.450
4,368,421,638
133.4
0.78
1982
 
2,055,057,000
0.475
4,330,447,151
132.3
-0.87
1983
 
2,189,442,000
0.495
4,425,439,625
135.2
2.19
1984
 
2,433,929,000
0.513
4,740,527,433
144.8
7.12
1985
 
2,617,433,000
0.531
4,926,098,167
150.5
3.91
1986
 
2,788,677,000
0.543
5,136,631,055
156.9
4.27
1987
 
2,997,904,000
0.560
5,356,843,685
163.6
4.29
1988
 
3,262,349,000
0.582
5,610,133,962
171.4
4.73
1989
 
3,470,801,000
0.607
5,718,900,972
174.7
1.94
1990
 
3,683,053,000
0.634
5,813,358,062
177.6
1.65
1991
 
3,792,707,000
0.655
5,792,780,230
177.0
-0.35
1992
 
4,064,120,000
0.672
6,046,178,107
184.7
4.37
1993
 
4,243,356,000
0.689
6,159,432,155
188.2
1.87
1994
 
4,463,755,000
0.703
6,346,871,890
193.9
3.04
1995
 
4,682,699,000
0.718
6,520,865,884
199.2
2.74
1996
 
4,964,951,000
0.733
6,769,218,499
206.8
3.81
1997
 
5,297,835,000
0.746
7,099,466,652
216.9
4.88
1998
 
5,717,821,000
0.752
7,601,867,954
232.2
7.08
1999
 
6,109,679,000
0.763
8,003,456,994
244.5
5.28
2000
 
6,611,246,000
0.782
8,450,496,581
258.1
5.59
2001
 
6,865,291,000
0.797
8,609,810,881
263.0
1.89
2002
 
7,001,130,000
0.808
8,665,944,621
264.7
0.65
2003
 
7,243,665,000
0.824
8,795,338,644
268.7
1.49
2004
 
7,675,133,000
0.844
9,092,574,428
277.7
3.38
2005
 
8,039,648,000
0.868
9,260,986,960
282.9
1.85
2006
 
8,519,777,000
0.892
9,554,104,335
291.8
3.17
2007
 
8,866,784,000
0.914
9,697,044,992
296.2
1.50
2008
 
9,013,458,000
0.942
9,570,458,696
292.3
-1.31
2009
 
8,688,446,000
0.941
9,233,793,866
282.1
-3.52
2010
 
9,023,198,000
0.957
9,428,136,461
288.0
2.10
2011
 
9,443,528,000
0.981
9,623,389,143
294.0
2.07
2012
 
9,901,882,000
1.000
9,901,882,000
302.5
2.89
2013
 
10,231,478,000
1.013
10,095,591,341
308.4
1.96
2014
 
10,686,606,000
1.029
10,388,659,253
317.3
2.90
2015
 
11,110,111,000
1.031
10,773,336,501
329.1
3.70
2016
 
11,365,731,000
1.042
10,903,948,770
333.1
1.21
2017
 
11,897,410,000
1.061
11,216,247,301
342.6
2.86
Source: Calculations by the Colorado Regional Economic Analysis Project (CO-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2018
REAP_PI_CA1400_1200_PN
 
   
Copyright © 2019. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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