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.

Figure 1 depicts Marin County's annual total industry earnings over 1970-2021 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 Marin County over time.

When measured in current dollars, Marin County's total industry earnings increased 3,045.42%, from $560M in 1970 to $17,622M in 2021. When measured in constant 2012 dollars to adjust for inflation, it advanced 468.85%, from $2,679M in 1970 to $15,241M in 2021.

Figure 2 tracks Marin County's and California's annual real total industry earnings for the period 1969-2021 to illustrate real total industry earnings patterns over time. During this 53-year period, Marin County's real total industry earnings rose from $2,642M in 1969 to $15,241M in 2021, for a net gain of $12,599M, or 476.82%. In comparison, California's real total industry earnings advanced from $372,092M in 1969 to $1,818,566M in 2021, for a net advance of $1,446,474M, or 388.74%.

Figure 3 shows Marin County's real total industry earnings growth in a broader context by offering direct comparisons across time with California, 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.

Marin County's overall real total industry earnings growth was 476.82% over 1969-2021 outpaced California's increase of 388.74%, and outpaced the United States' increase of 277.56%.

Another interesting and insightful way of contrasting the total industry earnings growth of Marin County is to compare its individual percentage contributions to California'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 California's total industry earnings, while a declining share shows it grew more slowly.

In 1969, Marin County's total industry earnings totaled 0.71% of California's total industry earnings, while in 2021 it equated to 0.84% thereby yielding a +0.13% share-shift.

Figure 5 displays the short-run pattern of Marin County's real total industry earnings growth by tracking the year-to-year percent change over 1970-2021. The average annual percent change for the entire 52-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, Marin County's real total industry earnings grew at an annual rate of 3.50% over 1970-2021. The county posted its highest growth in 2001 (15.17%) and recorded its lowest growth in 1974 (-6.09%). In 2021, Marin County's real total industry earnings grew by 2.86%

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 traces the annual percent change in Marin 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, 2010s, and 2020-2021.

During the 1970s, Marin County's annual real total industry earnings growth rate averaged 4.45%. It averaged 3.96% during the 1980s, 4.80% in the 1990s, 1.78% in the 2000s, 2.87% during the 2010s, 1.66% thus far this decade (2020-2021).

Figure 7 compares the decade average growth rates for Marin County noted in the previous graph with the corresponding decade averages for California and the nation. As the chart reveals, Marin County's average annual real total industry earnings growth exceeded California's average in the 1970s (4.45% vs. 3.66%), registered above California's average throughout the 1980s (3.96% vs. 3.74%), outperformed California's average throughout the 1990s (4.80% vs. 3.19%), outperformed California's average during the 2000s (1.78% vs. 1.54%), trailed California's average in the 2010s (2.87% vs. 3.46%), and posted below California's average over the 2 year period of the current decade, 2020-2021 (1.66% vs. 3.52%).

Finally, relative to nationwide real total industry earnings growth trends, Marin County surpassed the nation throughout the 1970s (4.45% vs. 3.13%), surpassed the nation over the 1980s (3.96% vs. 2.62%), exceeded the nation over the 1990s (4.80% vs. 3.43%), outgained the nation throughout the 2000s (1.78% vs. 1.47%), recorded above the nation over the 2010s (2.87% vs. 2.53%), and fell under the nation over 2020-2021 (1.66% vs. 2.08%).