San Mateo County vs. California
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
San Mateo County vs. California
San Mateo County:
2022 Earnings = $96,289,469K
2022 Percent of State = 4.44%
California:
2022 Earnings = $2,168,542,286K
2022 Percent of U.S. = 14.26%
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.
San Mateo County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
San Mateo County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts San Mateo County's annual total industry earnings 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 San Mateo County over time.
When measured in current dollars, San Mateo County's total industry earnings increased 4,429.39%, from $2,126M in 1970 to $96,289M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 671.51%, from $10,755M in 1970 to $82,977M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks San Mateo County's and California's annual real total industry earnings for the period 1969-2022 to illustrate real total industry earnings patterns over time. During this 54-year period, San Mateo County's real total industry earnings rose from $10,455M in 1969 to $82,977M in 2022, for a net gain of $72,522M, or 693.64%. In comparison, California's real total industry earnings advanced from $393,630M in 1969 to $1,868,740M in 2022, for a net advance of $1,475,110M, or 374.75%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows San Mateo 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.
San Mateo County's overall real total industry earnings growth was 693.64% over 1969-2022 outpaced California's increase of 374.75%, and topped the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the California Total: 1969-2022
Total Industry Earnings as a Percent of the California Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total industry earnings growth of San Mateo 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, San Mateo County's total industry earnings comprised 2.66% of California's total industry earnings, while in 2022 it equated to 4.44% thereby yielding a +1.78% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
+1.78%
=
4.44%
-
2.66%
 
   
San Mateo County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
San Mateo County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of San Mateo County's real total industry earnings 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, San Mateo County's real total industry earnings grew at an annual rate of 4.19% over 1970-2022. The county recorded its highest growth in 2000 (28.44%) and recorded its lowest growth in 2002 (-10.66%). In 2022, San Mateo County's real total industry earnings declined by -8.86%
San Mateo County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
San Mateo County Real Total Industry Earnings:
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 traces the annual percent change in San Mateo 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 2020-2022.
During the 1970s, San Mateo County's annual real total industry earnings growth rate averaged 3.76%. It averaged 3.33% throughout the 1980s, 5.92% throughout the 1990s, 1.50% during the 2000s, 6.09% during the 2010s, 5.38% thus far this decade (2020-2022).
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 San Mateo County noted in the previous graph with the corresponding decade averages for California and the nation. As the chart reveals, San Mateo County's average annual real total industry earnings growth outperformed California's average throughout the 1970s (3.76% vs. 3.66%), posted below California's average throughout the 1980s (3.33% vs. 3.74%), outgained California's average in the 1990s (5.92% vs. 3.19%), recorded under California's average throughout the 2000s (1.50% vs. 1.54%), outperformed California's average throughout the 2010s (6.09% vs. 3.47%), and outgained California's average over the 3 year period of the current decade, 2020-2022 (5.38% vs. 1.37%).
Finally, relative to nationwide real total industry earnings growth trends, San Mateo County led the nation throughout the 1970s (3.76% vs. 3.13%), led the nation during the 1980s (3.33% vs. 2.62%), registered above the nation during the 1990s (5.92% vs. 3.43%), led the nation over the 2000s (1.50% vs. 1.47%), outgained the nation throughout the 2010s (6.09% vs. 2.53%), and outpaced the nation over 2020-2022 (5.38% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
4.19
3.76
3.33
5.92
1.50
6.09
5.38
-8.86
 
3.02
3.66
3.74
3.19
1.54
3.47
1.37
-2.74
 
2.57
3.13
2.62
3.43
1.47
2.53
1.48
0.05
 
   

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

   
 
San Mateo County:
Total Industry Earnings, 1969-2022
 
1969
 
1,974,271
0.189
10,455,283
100.0
N
2.66
1970
 
2,125,883
0.198
10,755,251
102.9
2.87
2.71
1971
 
2,254,164
0.206
10,939,888
104.6
1.72
2.73
1972
 
2,428,096
0.213
11,395,232
109.0
4.16
2.66
1973
 
2,682,559
0.225
11,946,377
114.3
4.84
2.66
1974
 
2,957,985
0.248
11,930,726
114.1
-0.13
2.66
1975
 
3,326,739
0.269
12,385,477
118.5
3.81
2.77
1976
 
3,731,269
0.283
13,169,340
126.0
6.33
2.77
1977
 
4,110,719
0.302
13,622,478
130.3
3.44
2.72
1978
 
4,680,125
0.323
14,500,325
138.7
6.44
2.70
1979
 
5,306,178
0.351
15,098,819
144.4
4.13
2.69
1980
 
5,933,541
0.389
15,242,347
145.8
0.95
2.70
1981
 
6,444,972
0.424
15,195,030
145.3
-0.31
2.68
1982
 
6,811,715
0.448
15,214,570
145.5
0.13
2.67
1983
 
7,287,333
0.467
15,612,591
149.3
2.62
2.64
1984
 
8,165,009
0.484
16,856,271
161.2
7.97
2.65
1985
 
8,774,365
0.501
17,503,920
167.4
3.84
2.62
1986
 
9,522,255
0.512
18,591,255
177.8
6.21
2.62
1987
 
10,227,475
0.528
19,369,484
185.3
4.19
2.56
1988
 
11,155,992
0.549
20,333,531
194.5
4.98
2.55
1989
 
11,960,643
0.573
20,887,939
199.8
2.73
2.58
1990
 
12,736,625
0.598
21,307,612
203.8
2.01
2.57
1991
 
13,672,926
0.618
22,133,788
211.7
3.88
2.67
1992
 
14,308,456
0.634
22,561,425
215.8
1.93
2.67
1993
 
14,842,497
0.650
22,834,611
218.4
1.21
2.72
1994
 
15,457,041
0.664
23,294,112
222.8
2.01
2.75
1995
 
16,574,143
0.678
24,462,235
234.0
5.01
2.83
1996
 
18,632,226
0.692
26,924,015
257.5
10.06
2.99
1997
 
20,431,827
0.704
29,019,596
277.6
7.78
3.06
1998
 
22,980,093
0.710
32,381,379
309.7
11.58
3.15
1999
 
26,503,428
0.720
36,809,805
352.1
13.68
3.34
2000
 
34,901,900
0.738
47,278,454
452.2
28.44
3.93
2001
 
32,558,707
0.753
43,237,506
413.5
-8.55
3.56
2002
 
29,469,568
0.763
38,627,843
369.5
-10.66
3.16
2003
 
29,493,267
0.779
37,863,336
362.1
-1.98
3.03
2004
 
30,549,464
0.798
38,269,588
366.0
1.07
2.93
2005
 
32,310,460
0.821
39,342,068
376.3
2.80
2.96
2006
 
33,804,604
0.844
40,033,875
382.9
1.76
2.93
2007
 
35,648,904
0.866
41,161,689
393.7
2.82
3.00
2008
 
35,464,827
0.892
39,772,151
380.4
-3.38
3.01
2009
 
36,309,176
0.889
40,833,072
390.5
2.67
3.20
2010
 
36,024,598
0.905
39,800,029
380.7
-2.53
3.04
2011
 
38,210,371
0.928
41,173,194
393.8
3.45
3.06
2012
 
49,509,229
0.945
52,371,876
500.9
27.20
3.76
2013
 
51,442,747
0.958
53,708,718
513.7
2.55
3.76
2014
 
52,771,731
0.971
54,336,066
519.7
1.17
3.67
2015
 
55,791,254
0.973
57,340,008
548.4
5.53
3.65
2016
 
59,707,958
0.983
60,750,435
581.1
5.95
3.74
2017
 
66,618,100
1.000
66,618,100
637.2
9.66
3.96
2018
 
70,455,525
1.020
69,042,231
660.4
3.64
3.99
2019
 
74,537,173
1.035
72,007,548
688.7
4.29
4.01
2020
 
82,131,173
1.046
78,493,021
750.7
9.01
4.30
2021
 
99,241,071
1.090
91,046,019
870.8
15.99
4.74
2022
 
96,289,469
1.160
82,977,404
793.6
-8.86
4.44
Source: Calculations by the California Regional Economic Analysis Project (CA-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PSN
 
   

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

   
 
California:
Total Industry Earnings, 1969-2022
 
1969
 
74,329,117
0.189
393,629,810
100.0
N
11.37
1970
 
78,352,156
0.198
396,398,644
100.7
0.70
11.30
1971
 
82,582,961
0.206
400,790,881
101.8
1.11
11.13
1972
 
91,402,059
0.213
428,956,537
109.0
7.03
11.15
1973
 
100,883,935
0.225
449,271,588
114.1
4.74
10.98
1974
 
111,116,918
0.248
448,178,591
113.9
-0.24
11.18
1975
 
120,292,875
0.269
447,851,359
113.8
-0.07
11.35
1976
 
134,725,991
0.283
475,509,092
120.8
6.18
11.48
1977
 
151,080,844
0.302
500,665,575
127.2
5.29
11.59
1978
 
173,276,679
0.323
536,859,211
136.4
7.23
11.74
1979
 
197,519,971
0.351
562,046,413
142.8
4.69
11.98
1980
 
219,599,858
0.389
564,118,008
143.3
0.37
12.31
1981
 
240,773,877
0.424
567,662,094
144.2
0.63
12.28
1982
 
255,203,284
0.448
570,019,173
144.8
0.42
12.43
1983
 
275,917,118
0.467
591,132,741
150.2
3.70
12.61
1984
 
308,450,044
0.484
636,780,371
161.8
7.72
12.68
1985
 
335,469,692
0.501
669,226,165
170.0
5.10
12.82
1986
 
363,846,231
0.512
710,373,555
180.5
6.15
13.06
1987
 
399,341,120
0.528
756,299,231
192.1
6.47
13.33
1988
 
437,085,973
0.549
796,657,200
202.4
5.34
13.41
1989
 
463,137,155
0.573
808,817,790
205.5
1.53
13.36
1990
 
495,459,943
0.598
828,874,852
210.6
2.48
13.47
1991
 
511,713,803
0.618
828,364,365
210.4
-0.06
13.50
1992
 
536,789,079
0.634
846,403,467
215.0
2.18
13.22
1993
 
546,362,525
0.650
840,557,731
213.5
-0.69
12.89
1994
 
562,529,938
0.664
847,745,401
215.4
0.86
12.62
1995
 
586,509,339
0.678
865,645,333
219.9
2.11
12.55
1996
 
622,383,828
0.692
899,359,606
228.5
3.89
12.56
1997
 
668,027,313
0.704
948,808,092
241.0
5.50
12.63
1998
 
730,064,889
0.710
1,028,738,553
261.3
8.42
12.79
1999
 
794,444,128
0.720
1,103,379,298
280.3
7.26
13.03
2000
 
887,549,245
0.738
1,202,282,849
305.4
8.96
13.45
2001
 
914,764,493
0.753
1,214,794,419
308.6
1.04
13.32
2002
 
932,204,242
0.763
1,221,905,916
310.4
0.59
13.32
2003
 
973,563,433
0.779
1,249,856,771
317.5
2.29
13.44
2004
 
1,041,552,904
0.798
1,304,762,679
331.5
4.39
13.57
2005
 
1,091,397,214
0.821
1,328,914,016
337.6
1.85
13.58
2006
 
1,154,689,337
0.844
1,367,467,240
347.4
2.90
13.55
2007
 
1,189,726,778
0.866
1,373,707,412
349.0
0.46
13.42
2008
 
1,179,658,212
0.892
1,322,931,717
336.1
-3.70
13.09
2009
 
1,136,303,217
0.889
1,277,879,485
324.6
-3.41
13.08
2010
 
1,185,996,970
0.905
1,310,291,193
332.9
2.54
13.14
2011
 
1,249,077,532
0.928
1,345,930,706
341.9
2.72
13.23
2012
 
1,317,973,597
0.945
1,394,179,446
354.2
3.58
13.37
2013
 
1,366,471,583
0.958
1,426,662,473
362.4
2.33
13.42
2014
 
1,438,253,481
0.971
1,480,888,254
376.2
3.80
13.55
2015
 
1,530,524,415
0.973
1,573,011,454
399.6
6.22
13.86
2016
 
1,597,207,757
0.983
1,625,094,377
412.8
3.31
14.12
2017
 
1,682,986,953
1.000
1,682,986,953
427.6
3.56
14.20
2018
 
1,767,234,742
1.020
1,731,785,101
440.0
2.90
14.21
2019
 
1,859,956,484
1.035
1,796,833,716
456.5
3.76
14.32
2020
 
1,909,359,192
1.046
1,824,780,611
463.6
1.56
14.51
2021
 
2,094,293,463
1.090
1,921,352,523
488.1
5.29
14.67
2022
 
2,168,542,286
1.160
1,868,740,283
474.7
-2.74
14.26
Source: Calculations by the California Regional Economic Analysis Project (CA-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_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 Industry Earnings, 1969-2022
 
1969
 
653,665,000
0.189
3,461,658,635
100.0
N
1970
 
693,352,000
0.198
3,507,801,275
101.3
1.33
1971
 
742,094,000
0.206
3,601,523,902
104.0
2.67
1972
 
819,646,000
0.213
3,846,658,532
111.1
6.81
1973
 
918,964,000
0.225
4,092,469,383
118.2
6.39
1974
 
993,909,000
0.248
4,008,829,105
115.8
-2.04
1975
 
1,059,492,000
0.269
3,944,497,394
113.9
-1.60
1976
 
1,173,271,000
0.283
4,141,005,188
119.6
4.98
1977
 
1,303,767,000
0.302
4,320,542,816
124.8
4.34
1978
 
1,476,080,000
0.323
4,573,305,242
132.1
5.85
1979
 
1,648,363,000
0.351
4,690,444,754
135.5
2.56
1980
 
1,784,597,000
0.389
4,584,353,165
132.4
-2.26
1981
 
1,961,173,000
0.424
4,623,772,250
133.6
0.86
1982
 
2,053,729,000
0.448
4,587,185,902
132.5
-0.79
1983
 
2,188,018,000
0.467
4,687,672,466
135.4
2.19
1984
 
2,432,402,000
0.484
5,021,577,654
145.1
7.12
1985
 
2,615,791,000
0.501
5,218,223,348
150.7
3.92
1986
 
2,786,901,000
0.512
5,441,146,840
157.2
4.27
1987
 
2,996,000,000
0.528
5,674,027,499
163.9
4.28
1988
 
3,259,979,000
0.549
5,941,819,010
171.6
4.72
1989
 
3,467,027,000
0.573
6,054,778,994
174.9
1.90
1990
 
3,679,460,000
0.598
6,155,516,520
177.8
1.66
1991
 
3,789,428,000
0.618
6,134,341,309
177.2
-0.34
1992
 
4,059,023,000
0.634
6,400,225,481
184.9
4.33
1993
 
4,237,437,000
0.650
6,519,133,846
188.3
1.86
1994
 
4,456,948,000
0.664
6,716,721,924
194.0
3.03
1995
 
4,674,849,000
0.678
6,899,738,761
199.3
2.72
1996
 
4,956,180,000
0.692
7,161,799,344
206.9
3.80
1997
 
5,288,047,000
0.704
7,510,683,597
217.0
4.87
1998
 
5,707,014,000
0.710
8,041,785,619
232.3
7.07
1999
 
6,098,042,000
0.720
8,469,385,147
244.7
5.32
2000
 
6,598,743,000
0.738
8,938,721,519
258.2
5.54
2001
 
6,865,291,000
0.753
9,117,010,172
263.4
1.99
2002
 
7,001,002,000
0.763
9,176,707,606
265.1
0.65
2003
 
7,243,377,000
0.779
9,299,017,896
268.6
1.33
2004
 
7,674,785,000
0.798
9,614,272,113
277.7
3.39
2005
 
8,039,238,000
0.821
9,788,788,097
282.8
1.82
2006
 
8,519,349,000
0.844
10,089,233,775
291.5
3.07
2007
 
8,866,261,000
0.866
10,237,349,175
295.7
1.47
2008
 
9,014,085,000
0.892
10,108,876,304
292.0
-1.25
2009
 
8,688,913,000
0.889
9,771,497,172
282.3
-3.34
2010
 
9,023,916,000
0.905
9,969,635,637
288.0
2.03
2011
 
9,444,387,000
0.928
10,176,702,513
294.0
2.08
2012
 
9,854,834,000
0.945
10,424,645,101
301.1
2.44
2013
 
10,180,570,000
0.958
10,629,007,841
307.0
1.96
2014
 
10,613,874,000
0.971
10,928,505,678
315.7
2.82
2015
 
11,039,821,000
0.973
11,346,284,134
327.8
3.82
2016
 
11,311,477,000
0.983
11,508,970,941
332.5
1.43
2017
 
11,848,205,000
1.000
11,848,205,000
342.3
2.95
2018
 
12,438,590,000
1.020
12,189,079,542
352.1
2.88
2019
 
12,989,097,000
1.035
12,548,276,062
362.5
2.95
2020
 
13,158,025,000
1.046
12,575,166,053
363.3
0.21
2021
 
14,278,043,000
1.090
13,099,001,844
378.4
4.17
2022
 
15,207,952,000
1.160
13,105,445,395
378.6
0.05
Source: Calculations by the California Regional Economic Analysis Project (CA-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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