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 Outline of Analysis
| Glenn County vs. California Comparative Trends Analysis: Total Personal Income Growth and Change, 1969-2017 Introduction  Glenn County: 2017 TPI = $1,309,921K 2017 Percent of State = 0.1% California: 2017 TPI = $2,364,129,404K 2017 Percent of State = 14.1% 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 Glenn County and California 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 2012 constant dollar (real) estimates of total personal income reported in the tables and portrayed graphically below are determined using the Chain-Weight Implicit Price Deflator for Personal Consumption. Data Definition: Personal Income is the income that is received by all persons from all sources. It is calculated as the sum of wage and salary disbursements, 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. The personal income of an area is the income that is received by, or on behalf of, all the individuals who live in the area; therefore, the estimates of personal income are presented by the place of residence of the income recipients. Glenn County Total Personal Income, 1969-2017 Current vs. Constant Dollars (Millions)  Figure 1. Figure 1 depicts Glenn County's annual total personal income 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 Glenn County over time. When measured in current dollars, Glenn County's total personal income increased 1,741.3%, from $71M in 1969 to $1,310M in 2017. When measured in constant 2012 dollars to adjust for inflation, it advanced 247.4%, from $355M in 1969 to $1,235M in 2017. Real Total Personal Income, 1969-2017 (Millions)  Figure 2. Figure 2 tracks Glenn County's and California's annual real total personal income for the period 1969-2017 to illustrate real total personal income patterns over time. During this 49-year period, Glenn County's real total personal income rose from $355M in 1969 to $1,235M in 2017, for a net gain of $879M, or 247.4%. In comparison, California's real total personal income increased from $460,524M in 1969 to $2,228,776M in 2017, for a net gain of $1,768,252M, or 384.0%. Real Total Personal Income Indices (1969=100): 1969-2017  Figure 3. Figure 3 shows Glenn County's real total personal income 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 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. Glenn County's overall real total personal income growth was 247.4% over 1969-2017 trailed California's increase of 384.0%, and fell below the United States' increase of 301.2%. Total Personal Income as a Percent of the California Total: 1969-2017  Figure 4. Another interesting and insightful way of comparing the total personal income growth of Glenn County is to compare its individual percentage contributions to California'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 California's total personal income, while a declining share shows it grew more slowly. In 1969, Glenn County's total personal income comprised 0.08% of California's total personal income, while in 2017 it totaled 0.06% thereby yielding a -0.02% share-shift.
Glenn County Real Total Personal Income: Annual Percent Change, 1970-2017  Figure 5. Figure 5 highlights the short-run pattern of Glenn County's real total personal income 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, Glenn County's real total personal income grew at an annual rate of 2.86% over 1970-2017. The county posted its highest growth in 1973 (23.99%) and recorded its lowest growth in 1976 (-13.27%). In 2017, Glenn County's real total personal income grew by 4.57% Glenn County Real Total Personal Income: 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 traces the annual percent change in Glenn 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, and 2010-2017. During the 1970s, Glenn County's annual real total personal income growth rate averaged 5.22%. It averaged 0.53% during the 1980s, 1.50% during the 1990s, 3.65% during the 2000s, and 3.55% thus far this decade (2010 to 2017). Real Total Personal Income Growth: Average Annual Percent Change by Decade  Figure 7. Figure 7 compares the decade average growth rates for Glenn County noted in the previous graph with the corresponding decade averages for California and the nation. As the chart reveals, Glenn County's average annual real total personal income growth exceeded California's average during the 1970s (5.22% vs. 3.85%), recorded under California's average in the 1980s (0.53% vs. 3.98%), fell below California's average in the 1990s (1.50% vs. 3.07%), outpaced California's average during the 2000s (3.65% vs. 2.18%), and trailed California's average over the 8 year period of the last decade, 2010-2017 (3.55% vs. 3.83%). Finally, relative to nationwide real total personal income growth trends, Glenn County outperformed the nation in the 1970s (5.22% vs. 3.48%), fell under the nation over the 1980s (0.53% vs. 3.18%), posted below the nation throughout the 1990s (1.50% vs. 3.28%), outperformed the nation during the 2000s (3.65% vs. 2.07%), and registered above the nation over 2010-2017 (3.55% vs. 2.72%).
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