Monterey County vs. California
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Monterey County vs. California
Monterey County:
2022 TPI = $28,189,179K
2022 Percent of State = 0.94%
California:
2022 TPI = $3,006,647,281K
2022 Percent of U.S. = 13.78%
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 Monterey 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 2017 constant dollar (real) estimates of total personal income reported in the tables and portrayed graphically below are determined using the Implicit Price Deflator for Personal Consumption.
Data Definition:
Personal income is the income received by persons from participation in production, plus transfer receipts from government and business, plus government interest (which is treated like a transfer receipt). It is defined as the sum of wages and salaries, 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. Because the personal income of an area represents the income that is received by, or on behalf of, all the persons who live in that area, and because the estimates of some components of personal income (wages and salaries, supplements to wages and salaries, and contributions for government social insurance) are made on a place-of-work basis, state personal income includes an adjustment for residence. The residence adjustment represents the net flow of compensation (less contributions for government social insurance) of interstate commuters.
Monterey County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Monterey County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Monterey County's annual total 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 Monterey County over time.
When measured in current dollars, Monterey County's total personal income increased 1,966.24%, from $1,364M in 1970 to $28,189M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 251.95%, from $6,902M in 1970 to $24,292M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks Monterey County's and California's annual real total personal income for the period 1969-2022 to illustrate real total personal income patterns over time. During this 54-year period, Monterey County's real total personal income rose from $6,671M in 1969 to $24,292M in 2022, for a net gain of $17,621M, or 264.14%. In comparison, California's real total personal income increased from $488,058M in 1969 to $2,590,977M in 2022, for a net gain of $2,102,919M, or 430.87%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Monterey 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.
Monterey County's overall real total personal income growth was 264.14% over 1969-2022 trailed California's increase of 430.87%, and fell below the United States' increase of 348.76%.
Total Personal Income as a Percent of the California Total: 1969-2022
Total Personal Income as a Percent of the California Total: 1969-2022
Figure 4.
Another interesting and insightful way of comparing the total personal income growth of Monterey 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, Monterey County's total personal income comprised 1.37% of California's total personal income, while in 2022 it comprised 0.94% thereby yielding a -0.43% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.43%
=
0.94%
-
1.37%
 
   
Monterey County Real Total Personal Income:
Annual Percent Change, 1970-2022
Monterey County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Monterey County's real total 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, Monterey County's real total personal income grew at an annual rate of 2.52% over 1970-2022. The county posted its highest growth in 1971 (8.10%) and recorded its lowest growth in 2022 (-6.55%). In 2022, Monterey County's real total personal income declined by -6.55%
Monterey County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Monterey County Real Total 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 traces the annual percent change in Monterey County's real total 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, Monterey County's annual real total personal income growth rate averaged 2.96%. It averaged 3.20% in the 1980s, 2.84% in the 1990s, 1.50% during the 2000s, 2.49% during the 2010s, 1.14% thus far this decade (2020-2022).
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Monterey County noted in the previous graph with the corresponding decade averages for California and the nation. As the chart reveals, Monterey County's average annual real total personal income growth posted below California's average during the 1970s (2.96% vs. 3.86%), amounted to less than California's average throughout the 1980s (3.20% vs. 3.95%), fell below California's average in the 1990s (2.84% vs. 3.11%), recorded under California's average in the 2000s (1.50% vs. 2.04%), fell below California's average during the 2010s (2.49% vs. 3.55%), and posted below California's average over the 3 year period of the current decade, 2020-2022 (1.14% vs. 2.04%).
Finally, relative to nationwide real total personal income growth trends, Monterey County fell under the nation throughout the 1970s (2.96% vs. 3.50%), outperformed the nation in the 1980s (3.20% vs. 3.16%), posted below the nation throughout the 1990s (2.84% vs. 3.27%), trailed the nation in the 2000s (1.50% vs. 2.06%), fell below the nation over the 2010s (2.49% vs. 2.72%), and fell below the nation over 2020-2022 (1.14% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
2.52
2.96
3.20
2.84
1.50
2.49
1.14
-6.55
 
3.23
3.86
3.95
3.11
2.04
3.55
2.04
-6.29
 
2.89
3.50
3.16
3.27
2.06
2.72
2.10
-4.19
 
   

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

   
 
Monterey County:
Total Personal Income, 1969-2022
 
1969
 
1,259,691
0.189
6,671,032
100.0
N
1.37
1970
 
1,364,273
0.198
6,902,120
103.5
3.46
1.37
1971
 
1,537,357
0.206
7,461,087
111.8
8.10
1.45
1972
 
1,643,539
0.213
7,713,249
115.6
3.38
1.41
1973
 
1,839,849
0.225
8,193,494
122.8
6.23
1.44
1974
 
2,050,129
0.248
8,268,983
124.0
0.92
1.44
1975
 
2,188,715
0.269
8,148,604
122.1
-1.46
1.39
1976
 
2,290,452
0.283
8,084,043
121.2
-0.79
1.31
1977
 
2,521,308
0.302
8,355,342
125.2
3.36
1.30
1978
 
2,899,743
0.323
8,984,208
134.7
7.53
1.31
1979
 
3,122,405
0.351
8,884,856
133.2
-1.11
1.25
1980
 
3,503,564
0.389
9,000,113
134.9
1.30
1.23
1981
 
4,029,253
0.424
9,499,594
142.4
5.55
1.26
1982
 
4,268,949
0.448
9,535,076
142.9
0.37
1.25
1983
 
4,759,792
0.467
10,197,515
152.9
6.95
1.29
1984
 
5,106,047
0.484
10,541,190
158.0
3.37
1.24
1985
 
5,403,609
0.501
10,779,622
161.6
2.26
1.22
1986
 
5,841,918
0.512
11,405,763
171.0
5.81
1.23
1987
 
6,221,996
0.528
11,783,637
176.6
3.31
1.22
1988
 
6,589,541
0.549
12,010,464
180.0
1.92
1.18
1989
 
6,958,442
0.573
12,152,149
182.2
1.18
1.16
1990
 
7,391,774
0.598
12,365,996
185.4
1.76
1.15
1991
 
7,569,474
0.618
12,253,495
183.7
-0.91
1.14
1992
 
8,212,961
0.634
12,950,112
194.1
5.69
1.17
1993
 
8,352,642
0.650
12,850,218
192.6
-0.77
1.16
1994
 
8,372,338
0.664
12,617,304
189.1
-1.81
1.13
1995
 
8,913,802
0.678
13,156,127
197.2
4.27
1.14
1996
 
9,242,257
0.692
13,355,284
200.2
1.51
1.12
1997
 
9,900,834
0.704
14,062,286
210.8
5.29
1.13
1998
 
10,777,176
0.710
15,186,179
227.6
7.99
1.13
1999
 
11,518,420
0.720
15,997,583
239.8
5.34
1.13
2000
 
12,681,237
0.738
17,178,127
257.5
7.38
1.12
2001
 
12,874,760
0.753
17,097,501
256.3
-0.47
1.10
2002
 
13,026,559
0.763
17,074,831
256.0
-0.13
1.10
2003
 
13,657,256
0.779
17,533,130
262.8
2.68
1.10
2004
 
14,034,779
0.798
17,581,494
263.5
0.28
1.07
2005
 
14,526,578
0.821
17,687,944
265.1
0.61
1.05
2006
 
15,699,663
0.844
18,592,685
278.7
5.12
1.05
2007
 
16,344,825
0.866
18,872,406
282.9
1.50
1.05
2008
 
16,417,496
0.892
18,411,457
276.0
-2.44
1.03
2009
 
16,449,126
0.889
18,498,584
277.3
0.47
1.07
2010
 
17,079,631
0.905
18,869,601
282.9
2.01
1.06
2011
 
17,462,059
0.928
18,816,063
282.1
-0.28
1.02
2012
 
18,256,300
0.945
19,311,888
289.5
2.64
1.01
2013
 
19,005,460
0.958
19,842,620
297.4
2.75
1.03
2014
 
19,989,436
0.971
20,581,992
308.5
3.73
1.02
2015
 
21,593,394
0.973
22,192,822
332.7
7.83
1.03
2016
 
22,267,892
0.983
22,656,681
339.6
2.09
1.02
2017
 
22,772,964
1.000
22,772,964
341.4
0.51
0.99
2018
 
23,001,148
1.020
22,539,759
337.9
-1.02
0.95
2019
 
24,421,471
1.035
23,592,661
353.7
4.67
0.96
2020
 
26,398,134
1.046
25,228,780
378.2
6.93
0.95
2021
 
28,333,347
1.090
25,993,658
389.6
3.03
0.94
2022
 
28,189,179
1.160
24,292,012
364.1
-6.55
0.94
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_300_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 Personal Income, 1969-2022
 
1969
 
92,160,048
0.189
488,058,296
100.0
N
11.65
1970
 
99,417,462
0.198
502,972,083
103.1
3.06
11.62
1971
 
105,987,186
0.206
514,376,054
105.4
2.27
11.46
1972
 
116,351,066
0.213
546,044,049
111.9
6.16
11.45
1973
 
127,777,265
0.225
569,037,030
116.6
4.21
11.27
1974
 
142,507,421
0.248
574,788,936
117.8
1.01
11.45
1975
 
157,639,903
0.269
586,894,650
120.3
2.11
11.57
1976
 
174,924,788
0.283
617,388,868
126.5
5.20
11.70
1977
 
194,032,902
0.302
643,004,050
131.7
4.15
11.75
1978
 
220,640,055
0.323
683,604,087
140.1
6.31
11.89
1979
 
250,181,567
0.351
711,895,874
145.9
4.14
12.07
1980
 
284,416,652
0.389
730,622,308
149.7
2.63
12.29
1981
 
319,356,852
0.424
752,933,755
154.3
3.05
12.33
1982
 
342,144,678
0.448
764,210,489
156.6
1.50
12.32
1983
 
369,925,812
0.467
792,539,661
162.4
3.71
12.46
1984
 
410,321,649
0.484
847,089,430
173.6
6.88
12.53
1985
 
443,888,531
0.501
885,510,156
181.4
4.54
12.65
1986
 
476,484,468
0.512
930,288,502
190.6
5.06
12.82
1987
 
511,613,010
0.528
968,927,332
198.5
4.15
13.01
1988
 
557,618,023
0.549
1,016,345,617
208.2
4.89
13.08
1989
 
600,193,593
0.573
1,048,171,693
214.8
3.13
13.03
1990
 
643,623,777
0.598
1,076,744,085
220.6
2.73
13.14
1991
 
666,607,620
0.618
1,079,107,100
221.1
0.22
13.14
1992
 
702,023,479
0.634
1,106,943,360
226.8
2.58
12.98
1993
 
719,014,905
0.650
1,106,176,777
226.6
-0.07
12.74
1994
 
741,651,785
0.664
1,117,686,095
229.0
1.04
12.50
1995
 
779,604,724
0.678
1,150,640,145
235.8
2.95
12.42
1996
 
828,147,235
0.692
1,196,692,680
245.2
4.00
12.43
1997
 
876,440,299
0.704
1,244,819,832
255.1
4.02
12.40
1998
 
953,360,541
0.710
1,343,385,716
275.3
7.92
12.57
1999
 
1,022,682,748
0.720
1,420,372,978
291.0
5.73
12.82
2000
 
1,127,550,078
0.738
1,527,390,315
313.0
7.53
13.08
2001
 
1,169,366,357
0.753
1,552,902,123
318.2
1.67
13.01
2002
 
1,187,280,934
0.763
1,556,252,945
318.9
0.22
12.98
2003
 
1,240,604,169
0.779
1,592,682,580
326.3
2.34
13.09
2004
 
1,315,172,209
0.798
1,647,528,041
337.6
3.44
13.14
2005
 
1,387,883,820
0.821
1,689,923,923
346.3
2.57
13.17
2006
 
1,493,216,996
0.844
1,768,376,357
362.3
4.64
13.22
2007
 
1,561,307,156
0.866
1,802,749,381
369.4
1.94
13.09
2008
 
1,588,294,546
0.892
1,781,198,325
365.0
-1.20
12.78
2009
 
1,539,818,660
0.889
1,731,670,427
354.8
-2.78
12.77
2010
 
1,609,997,470
0.905
1,778,727,567
364.4
2.72
12.83
2011
 
1,713,428,004
0.928
1,846,286,802
378.3
3.80
12.88
2012
 
1,814,763,034
0.945
1,919,693,480
393.3
3.98
13.05
2013
 
1,840,885,251
0.958
1,921,973,305
393.8
0.12
13.09
2014
 
1,955,718,006
0.971
2,013,692,205
412.6
4.77
13.23
2015
 
2,097,049,575
0.973
2,155,263,235
441.6
7.03
13.56
2016
 
2,191,138,011
0.983
2,229,394,419
456.8
3.44
13.79
2017
 
2,295,048,653
1.000
2,295,048,653
470.2
2.94
13.78
2018
 
2,411,055,136
1.020
2,362,690,854
484.1
2.95
13.77
2019
 
2,537,950,599
1.035
2,451,818,225
502.4
3.77
13.84
2020
 
2,767,521,379
1.046
2,644,928,923
541.9
7.88
14.11
2021
 
3,013,676,929
1.090
2,764,815,854
566.5
4.53
14.09
2022
 
3,006,647,281
1.160
2,590,976,863
530.9
-6.29
13.78
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_300_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 Personal Income, 1969-2022
 
1969
 
791,229,000
0.189
4,190,165,758
100.0
N
1970
 
855,525,000
0.198
4,328,265,709
103.3
3.30
1971
 
924,613,000
0.206
4,487,323,465
107.1
3.67
1972
 
1,016,408,000
0.213
4,770,076,966
113.8
6.30
1973
 
1,133,468,000
0.225
5,047,731,018
120.5
5.82
1974
 
1,244,912,000
0.248
5,021,223,733
119.8
-0.53
1975
 
1,362,505,000
0.269
5,072,617,275
121.1
1.02
1976
 
1,495,704,000
0.283
5,279,017,400
126.0
4.07
1977
 
1,651,632,000
0.302
5,473,329,799
130.6
3.68
1978
 
1,855,849,000
0.323
5,749,934,936
137.2
5.05
1979
 
2,073,296,000
0.351
5,899,598,782
140.8
2.60
1980
 
2,313,972,000
0.389
5,944,235,512
141.9
0.76
1981
 
2,590,995,000
0.424
6,108,676,176
145.8
2.77
1982
 
2,777,640,000
0.448
6,204,105,336
148.1
1.56
1983
 
2,969,333,000
0.467
6,361,584,112
151.8
2.54
1984
 
3,275,415,000
0.484
6,761,937,695
161.4
6.29
1985
 
3,508,482,000
0.501
6,999,046,441
167.0
3.51
1986
 
3,717,756,000
0.512
7,258,548,586
173.2
3.71
1987
 
3,931,800,000
0.528
7,446,308,852
177.7
2.59
1988
 
4,264,433,000
0.549
7,772,592,728
185.5
4.38
1989
 
4,605,107,000
0.573
8,042,309,775
191.9
3.47
1990
 
4,897,332,000
0.598
8,192,943,538
195.5
1.87
1991
 
5,072,291,000
0.618
8,211,045,100
196.0
0.22
1992
 
5,406,546,000
0.634
8,524,985,809
203.5
3.82
1993
 
5,643,648,000
0.650
8,682,535,385
207.2
1.85
1994
 
5,933,938,000
0.664
8,942,579,420
213.4
3.00
1995
 
6,278,125,000
0.678
9,266,058,093
221.1
3.62
1996
 
6,660,854,000
0.692
9,625,094,288
229.7
3.87
1997
 
7,068,422,000
0.704
10,039,373,926
239.6
4.30
1998
 
7,584,003,000
0.710
10,686,661,406
255.0
6.45
1999
 
7,978,449,000
0.720
11,081,025,264
264.5
3.69
2000
 
8,620,234,000
0.738
11,677,052,911
278.7
5.38
2001
 
8,990,104,000
0.753
11,938,732,039
284.9
2.24
2002
 
9,146,700,000
0.763
11,989,225,466
286.1
0.42
2003
 
9,474,684,000
0.779
12,163,560,736
290.3
1.45
2004
 
10,008,929,000
0.798
12,538,275,270
299.2
3.08
2005
 
10,540,800,000
0.821
12,834,755,927
306.3
2.36
2006
 
11,291,446,000
0.844
13,372,153,008
319.1
4.19
2007
 
11,925,044,000
0.866
13,769,145,681
328.6
2.97
2008
 
12,423,410,000
0.892
13,932,275,429
332.5
1.18
2009
 
12,058,253,000
0.889
13,560,635,845
323.6
-2.67
2010
 
12,547,501,000
0.905
13,862,497,514
330.8
2.23
2011
 
13,299,818,000
0.928
14,331,082,712
342.0
3.38
2012
 
13,905,749,000
0.945
14,709,785,897
351.1
2.64
2013
 
14,063,283,000
0.958
14,682,748,144
350.4
-0.18
2014
 
14,778,160,000
0.971
15,216,235,418
363.1
3.63
2015
 
15,467,113,000
0.973
15,896,476,839
379.4
4.47
2016
 
15,884,741,000
0.983
16,162,082,333
385.7
1.67
2017
 
16,658,962,000
1.000
16,658,962,000
397.6
3.07
2018
 
17,514,402,000
1.020
17,163,073,878
409.6
3.03
2019
 
18,343,601,000
1.035
17,721,060,157
422.9
3.25
2020
 
19,609,985,000
1.046
18,741,324,605
447.3
5.76
2021
 
21,392,812,000
1.090
19,626,252,970
468.4
4.72
2022
 
21,820,248,000
1.160
18,803,588,325
448.8
-4.19
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_300_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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