Clay County vs. Iowa
Comparative Trends Analysis:
Per Capita Personal Income Growth and Change, 1969-2022
Introduction
Clay County vs. Iowa
Clay County:
2022 PCI = $61,974
2022 Percent of State = 102.91%
Iowa:
2022 PCI = $60,222
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.
Clay County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Clay County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Clay 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 Clay County over time.
When measured in current dollars, Clay County's per capita personal income increased 1,487.22%, from $3,905 in 1970 to $61,974 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 170.36%, from $19,754 in 1970 to $53,406 in 2022.
Real Per Capita Personal Income, 1969-2022
Real Per Capita Personal Income, 1969-2022
Figure 2.
Figure 2 traces Clay County's and Iowa's 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, Clay County's real per capita personal income rose from $19,393 in 1969 to $53,406 in 2022, for a net gain of $34,013, or 175.39%. In comparison, Iowa's real per capita personal income increased from $19,586 in 1969 to $51,897 in 2022, for a net advance of $32,311, or 164.97%.
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 Clay County's real per capita personal income growth in a broader context by offering direct comparisons across time with Iowa, 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.
Clay County's overall real per capita personal income growth was 175.39% over 1969-2022 outpaced Iowa's increase of 164.97%, and outpaced 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 depicts the trends for per capita personal income relative to the national average by tracing Clay County and Iowa per capita personal income as a percent of the national average over 1969-2022.
In 1969, Clay County's per capita personal income amounted to 93.16% of the national average; in 2022, it approximated 94.66%. Similarly, in 1969, Iowa's per capita personal income totaled 94.09% of the national average; in 2022, it consisted of 91.98%.
Clay County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Clay County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Clay 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 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, Clay County's real per capita personal income grew at an annual rate of 2.09% over 1970-2022. The county posted its highest growth in 1973 (23.09%) and recorded its lowest growth in 1974 (-11.19%). In 2022, Clay County's real per capita personal income declined by -1.95%
Clay County Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Clay 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 illustrates the annual percent change in Clay County's real per capita 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, Clay County's annual real per capita personal income growth rate averaged 3.33%. It averaged 1.39% in the 1980s, 1.86% in the 1990s, 1.92% during the 2000s, 1.31% throughout the 2010s, 4.21% 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 Clay County noted in the previous graph with the corresponding decade averages for Iowa and the nation. As the chart reveals, Clay County's average annual real per capita personal income growth recorded above Iowa's average during the 1970s (3.33% vs. 2.88%), fell below Iowa's average during the 1980s (1.39% vs. 1.39%), amounted to less than Iowa's average in the 1990s (1.86% vs. 2.03%), outgained Iowa's average in the 2000s (1.92% vs. 1.64%), trailed Iowa's average in the 2010s (1.31% vs. 1.38%), and outpaced Iowa's average over the 3 year period of the current decade, 2020-2022 (4.21% vs. 2.72%).
Finally, relative to nationwide real per capita personal income growth trends, Clay County outgained the nation during the 1970s (3.33% vs. 2.37%), posted below the nation in the 1980s (1.39% vs. 2.19%), trailed the nation during the 1990s (1.86% vs. 2.01%), exceeded the nation during the 2000s (1.92% vs. 1.10%), fell below the nation during the 2010s (1.31% vs. 1.97%), and registered above the nation over 2020-2022 (4.21% vs. 1.78%).
   
 
Real* Per Capita Personal Income Growth:
Average Annual Percent Change
 
 
 
2.09
3.33
1.39
1.86
1.92
1.31
4.21
-1.95
 
1.91
2.88
1.39
2.03
1.64
1.38
2.72
-2.55
 
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.

   
 
Clay County:
Per Capita Personal Income, 1969-2022
 
1969
 
3,662
0.189
19,393
100.0
N
99.01
93.16
1970
 
3,905
0.198
19,754
101.9
1.86
99.54
93.01
1971
 
4,097
0.206
19,883
102.5
0.65
100.36
91.64
1972
 
4,600
0.213
21,588
111.3
8.58
100.91
94.71
1973
 
5,967
0.225
26,572
137.0
23.09
109.16
111.26
1974
 
5,851
0.248
23,600
121.7
-11.19
103.42
100.27
1975
 
6,658
0.269
24,788
127.8
5.03
105.79
105.28
1976
 
6,925
0.283
24,442
126.0
-1.39
104.30
100.73
1977
 
8,120
0.302
26,910
138.8
10.10
111.23
108.05
1978
 
8,615
0.323
26,691
137.6
-0.81
102.48
103.10
1979
 
9,135
0.351
25,995
134.0
-2.61
101.32
98.95
1980
 
9,786
0.389
25,140
129.6
-3.29
101.81
96.10
1981
 
10,752
0.424
25,348
130.7
0.83
98.68
95.22
1982
 
10,697
0.448
23,892
123.2
-5.74
94.93
89.22
1983
 
10,708
0.467
22,942
118.3
-3.98
92.65
84.31
1984
 
11,845
0.484
24,454
126.1
6.59
91.72
85.28
1985
 
12,951
0.501
25,835
133.2
5.65
95.90
87.82
1986
 
14,024
0.512
27,380
141.2
5.98
99.19
90.58
1987
 
14,926
0.528
28,267
145.8
3.24
100.18
91.98
1988
 
16,036
0.549
29,228
150.7
3.40
103.90
91.94
1989
 
16,944
0.573
29,591
152.6
1.24
100.95
90.81
1990
 
17,163
0.598
28,712
148.1
-2.97
97.37
87.48
1991
 
16,885
0.618
27,334
140.9
-4.80
94.08
84.21
1992
 
18,007
0.634
28,393
146.4
3.87
94.39
85.43
1993
 
17,256
0.650
26,548
136.9
-6.49
90.65
79.47
1994
 
20,350
0.664
30,668
158.1
15.52
98.51
90.24
1995
 
21,056
0.678
31,077
160.3
1.34
98.56
89.31
1996
 
23,756
0.692
34,327
177.0
10.46
102.53
96.08
1997
 
24,214
0.704
34,392
177.3
0.19
100.14
93.40
1998
 
24,801
0.710
34,947
180.2
1.61
98.42
90.21
1999
 
25,123
0.720
34,893
179.9
-0.15
97.74
87.87
2000
 
27,360
0.738
37,062
191.1
6.21
100.07
89.55
2001
 
27,496
0.753
36,514
188.3
-1.48
97.70
87.16
2002
 
27,465
0.763
36,001
185.6
-1.41
95.35
86.37
2003
 
28,781
0.779
36,949
190.5
2.63
98.08
88.13
2004
 
31,060
0.798
38,909
200.6
5.30
98.24
90.86
2005
 
31,310
0.821
38,124
196.6
-2.02
96.61
87.78
2006
 
32,530
0.844
38,524
198.7
1.05
95.12
85.96
2007
 
35,554
0.866
41,052
211.7
6.56
97.77
89.81
2008
 
39,365
0.892
44,146
227.6
7.54
102.27
96.35
2009
 
37,221
0.889
41,859
215.8
-5.18
99.93
94.69
2010
 
39,341
0.905
43,464
224.1
3.84
103.01
97.00
2011
 
43,931
0.928
47,337
244.1
8.91
107.46
103.00
2012
 
45,543
0.945
48,176
248.4
1.77
107.05
102.95
2013
 
45,776
0.958
47,793
246.4
-0.80
106.43
103.10
2014
 
45,920
0.971
47,281
243.8
-1.07
104.07
99.21
2015
 
47,544
0.973
48,864
252.0
3.35
104.62
98.93
2016
 
44,626
0.983
45,405
234.1
-7.08
97.71
91.13
2017
 
45,475
1.000
45,475
234.5
0.15
97.23
89.16
2018
 
48,082
1.020
47,117
243.0
3.61
98.58
90.19
2019
 
48,982
1.035
47,319
244.0
0.43
98.63
88.18
2020
 
53,601
1.046
51,227
264.2
8.26
101.93
90.61
2021
 
59,372
1.090
54,469
280.9
6.33
102.28
92.15
2022
 
61,974
1.160
53,406
275.4
-1.95
102.91
94.66
Source: Calculations by the Iowa Regional Economic Analysis Project (IA-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.

   
 
Iowa:
Per Capita Personal Income, 1969-2022
 
1969
 
3,698
0.189
19,586
100.0
N
94.09
1970
 
3,923
0.198
19,845
101.3
1.32
93.44
1971
 
4,082
0.206
19,811
101.2
-0.17
91.31
1972
 
4,559
0.213
21,394
109.2
7.99
93.86
1973
 
5,466
0.225
24,342
124.3
13.78
101.92
1974
 
5,657
0.248
22,818
116.5
-6.26
96.95
1975
 
6,293
0.269
23,430
119.6
2.68
99.52
1976
 
6,640
0.283
23,435
119.7
0.02
96.58
1977
 
7,300
0.302
24,192
123.5
3.23
97.14
1978
 
8,406
0.323
26,044
133.0
7.65
100.60
1979
 
9,017
0.351
25,657
131.0
-1.49
97.66
1980
 
9,612
0.389
24,692
126.1
-3.76
94.39
1981
 
10,895
0.424
25,688
131.2
4.03
96.49
1982
 
11,268
0.448
25,169
128.5
-2.02
93.98
1983
 
11,557
0.467
24,761
126.4
-1.62
91.00
1984
 
12,914
0.484
26,660
136.1
7.67
92.98
1985
 
13,504
0.501
26,939
137.5
1.05
91.58
1986
 
14,139
0.512
27,604
140.9
2.47
91.32
1987
 
14,899
0.528
28,216
144.1
2.22
91.81
1988
 
15,434
0.549
28,130
143.6
-0.30
88.49
1989
 
16,785
0.573
29,313
149.7
4.20
89.96
1990
 
17,627
0.598
29,488
150.6
0.60
89.85
1991
 
17,948
0.618
29,054
148.3
-1.47
89.51
1992
 
19,076
0.634
30,079
153.6
3.53
90.51
1993
 
19,036
0.650
29,287
149.5
-2.63
87.67
1994
 
20,657
0.664
31,131
158.9
6.30
91.60
1995
 
21,363
0.678
31,531
161.0
1.28
90.61
1996
 
23,168
0.692
33,479
170.9
6.18
93.70
1997
 
24,180
0.704
34,344
175.3
2.58
93.27
1998
 
25,198
0.710
35,507
181.3
3.39
91.65
1999
 
25,705
0.720
35,701
182.3
0.55
89.90
2000
 
27,341
0.738
37,036
189.1
3.74
89.49
2001
 
28,145
0.753
37,376
190.8
0.92
89.21
2002
 
28,804
0.763
37,756
192.8
1.02
90.58
2003
 
29,344
0.779
37,672
192.3
-0.22
89.85
2004
 
31,615
0.798
39,604
202.2
5.13
92.49
2005
 
32,411
0.821
39,464
201.5
-0.35
90.86
2006
 
34,197
0.844
40,499
206.8
2.62
90.37
2007
 
36,366
0.866
41,990
214.4
3.68
91.86
2008
 
38,490
0.892
43,164
220.4
2.80
94.21
2009
 
37,246
0.889
41,887
213.9
-2.96
94.76
2010
 
38,190
0.905
42,193
215.4
0.73
94.16
2011
 
40,880
0.928
44,050
224.9
4.40
95.85
2012
 
42,541
0.945
45,001
229.8
2.16
96.17
2013
 
43,012
0.958
44,907
229.3
-0.21
96.87
2014
 
44,123
0.971
45,431
232.0
1.17
95.32
2015
 
45,445
0.973
46,707
238.5
2.81
94.56
2016
 
45,672
0.983
46,469
237.3
-0.51
93.26
2017
 
46,769
1.000
46,769
238.8
0.64
91.70
2018
 
48,775
1.020
47,796
244.0
2.20
91.49
2019
 
49,663
1.035
47,978
245.0
0.38
89.41
2020
 
52,586
1.046
50,256
256.6
4.75
88.90
2021
 
58,049
1.090
53,255
271.9
5.97
90.10
2022
 
60,222
1.160
51,897
265.0
-2.55
91.98
Source: Calculations by the Iowa Regional Economic Analysis Project (IA-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 Iowa Regional Economic Analysis Project (IA-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.

Please stay tuned...
while your request is processing:

Please wait while your request is being processed...
To offer the most comprehensive set of interactive options in support of your research, IA-REAP calculates and crunches most of the data and generates the narrative and graphic analysis on demand in response to your request.
Your request will soon be available.
Just a few more seconds....Your request has been generated and is now loading the results.