Florence County vs. South Carolina
Comparative Trends Analysis:
Average Earnings Per Job Growth and Change, 1969-2022
Introduction
Florence County vs. South Carolina
Florence County:
2022 Avg. Earnings = $57,469
2022 Percent of State = 99.61%
South Carolina:
2022 Avg. Earnings = $57,697
The United States economy has generated an impressive number of jobs since the 1970s. The contrast between the nation's vigorous employment growth and the modest performance of other major industrial countries is striking. Despite this rosy track record, the real (inflation adjusted) wages and salaries of many workers have stagnated or slipped in recent years. This development has provoked concerns about the quality of new jobs. Structural shifts in the composition of employment--from high-wage goods-producing to low-wage services-related sectors--is the culprit most often cited for the deteriorating quality of jobs.
Regions vary greatly in the make-up of their labor force, in their industry composition of employment, and their economic experience. Reviewing and examining recent developments in average earnings per job in Florence County with comparisons to South Carolina and the nation is an important first step in understanding the economic forces at play in Florence County.
Discussion: Average Annual Earnings Per Job are computed by dividing BEA total industry earnings estimates by the BEA total full- and part-time jobs estimates. No convenient or adequate means exist at the county or regional level for converting the job estimates to a full-time equivalent measure. So, interpret the average earnings per job estimates with caution in consideration of the following issues:
Average earnings per job within industries involving more part-time work is lower than industries involving more full-time work, although there could be little difference in the underlying wage of full-time workers. Such differences could also prevail between counties and regions. An increase in the proportion of part-time jobs over time may erode average earnings per job estimates, although full-time earnings per worker may have remained unchanged.
As with per capita income, average earnings per job may be subject to extreme short-run variation, especially in smaller counties. Major construction projects relating to building dams, nuclear power plants, and private plant construction projects have caused extreme fluctuations in many smaller counties. Such changes typify both small and large agriculture-dependent counties owing to the extreme annual variations in farm incomes. Also, Since average earnings per job are just a simple average, it does not account for variations in the distribution of earnings among high- vs. low-wage jobs.
Florence County Average Earnings Per Job, 1970-2022
Current vs. Constant Dollars
Florence County Average Earnings Per Job, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Florence County's annual average earnings per job 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 Florence County over time.
When measured in current dollars, Florence County's average earnings per job increased 1,011.83%, from $5,169 in 1970 to $57,469 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 89.38%, from $26,150 in 1970 to $49,524 in 2022.
Real Average Earnings Per Job, 1969-2022
Real Average Earnings Per Job, 1969-2022
Figure 2.
Figure 2 traces Florence County's and South Carolina's annual real average earnings per job for the period 1969-2022 to illustrate real average earnings per job patterns over time. During this 54-year period, Florence County's real average earnings per job rose from $26,264 in 1969 to $49,524 in 2022, for a net gain of $23,259, or 88.56%. In comparison, South Carolina's real average earnings per job increased from $29,174 in 1969 to $49,720 in 2022, for a net advance of $20,546, or 70.42%.
Real Average Earnings Per Job Indices (1969=100): 1969-2022
Real Average Earnings Per Job Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Florence County's real average earnings per job growth in a broader context by offering direct comparisons across time with South Carolina, the United States. The growth indices shown here express each region's real average earnings per job in 1969 as a base figure of 100, and the real average earnings per jobs in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real average earnings per job growth between regions that may differ vastly in size.
Florence County's overall real average earnings per job growth was 88.56% over 1969-2022 outpaced South Carolina's increase of 70.42%, and outpaced the United States' increase of 62.26%.
Average Earnings Per Job as a Percent of the U.S. Average: 1969-2022
Average Earnings Per Job as a Percent of the U.S. Average: 1969-2022
Figure 4.
Figure 4 displays the trends for average earnings per job relative to the national average by tracing Florence County and South Carolina average earnings per job as a percent of the national average over 1969-2022.
In 1969, Florence County's average earnings per job amounted to 69.08% of the national average; in 2022, it approximated 80.28%. Similarly, in 1969, South Carolina's average earnings per job totaled 76.74% of the national average; in 2022, it consisted of 80.60%.
Florence County Real Average Earnings Per Job:
Annual Percent Change, 1970-2022
Florence County Real Average Earnings Per Job:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of Florence County's real average earnings per job 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, Florence County's real average earnings per job grew at an annual rate of 1.23% over 1970-2022. The county recorded its highest growth in 1972 (5.89%) and posted its lowest growth in 2022 (-3.66%). In 2022, Florence County's real average earnings per job declined by -3.66%
Florence County Real Average Earnings Per Job:
Annual Percent Change and Decade Averages Over 1970-2022
Florence County Real Average Earnings Per Job:
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 depicts the annual percent change in Florence County's real average earnings per job 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, Florence County's annual real average earnings per job growth rate averaged 2.26%. It averaged 0.94% throughout the 1980s, 1.85% throughout the 1990s, 0.78% throughout the 2000s, 0.61% in the 2010s, 0.17% thus far this decade (2020-2022).
Real Average Earnings Per Job Growth:
Average Annual Percent Change by Decade
Real Average Earnings Per Job Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Florence County noted in the previous graph with the corresponding decade averages for South Carolina and the nation. As the chart reveals, Florence County's average annual real average earnings per job growth outpaced South Carolina's average during the 1970s (2.26% vs. 1.49%), amounted to less than South Carolina's average during the 1980s (0.94% vs. 1.05%), registered above South Carolina's average in the 1990s (1.85% vs. 1.43%), topped South Carolina's average during the 2000s (0.78% vs. 0.60%), trailed South Carolina's average during the 2010s (0.61% vs. 1.04%), and topped South Carolina's average over the 3 year period of the current decade, 2020-2022 (0.17% vs. -0.63%).
Finally, relative to nationwide real average earnings per job growth trends, Florence County registered above the nation in the 1970s (2.26% vs. 0.89%), registered above the nation over the 1980s (0.94% vs. 0.71%), outperformed the nation throughout the 1990s (1.85% vs. 1.68%), outgained the nation during the 2000s (0.78% vs. 0.72%), recorded underneath the nation during the 2010s (0.61% vs. 1.01%), and topped the nation over 2020-2022 (0.17% vs. -0.24%).
   
 
Real* Average Earnings Per Job Growth:
Average Annual Percent Change
 
 
 
1.23
2.26
0.94
1.85
0.78
0.61
0.17
-3.66
 
1.02
1.49
1.05
1.43
0.60
1.04
-0.63
-3.35
 
0.93
0.89
0.71
1.68
0.72
1.01
-0.24
-4.51
 
   

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

   
 
Florence County:
Average Earnings Per Job, 1969-2022
 
1969
 
4,960
0.189
26,264
100.0
N
90.03
69.08
1970
 
5,169
0.198
26,150
99.6
-0.44
89.05
68.05
1971
 
5,502
0.206
26,703
101.7
2.11
88.34
67.90
1972
 
6,025
0.213
28,276
107.7
5.89
89.19
69.33
1973
 
6,583
0.225
29,315
111.6
3.68
90.02
70.51
1974
 
7,579
0.248
30,569
116.4
4.28
95.35
76.34
1975
 
7,958
0.269
29,628
112.8
-3.08
93.26
74.29
1976
 
8,719
0.283
30,772
117.2
3.86
93.44
75.49
1977
 
9,427
0.302
31,239
118.9
1.52
94.43
75.95
1978
 
10,641
0.323
32,969
125.5
5.54
97.57
79.07
1979
 
11,500
0.351
32,724
124.6
-0.74
96.90
78.94
1980
 
12,285
0.389
31,558
120.2
-3.56
96.04
78.46
1981
 
13,872
0.424
32,706
124.5
3.64
98.66
81.28
1982
 
14,512
0.448
32,414
123.4
-0.89
98.05
80.67
1983
 
15,166
0.467
32,492
123.7
0.24
96.15
80.16
1984
 
16,245
0.484
33,538
127.7
3.22
96.15
80.50
1985
 
17,278
0.501
34,467
131.2
2.77
97.82
81.77
1986
 
17,940
0.512
35,025
133.4
1.62
97.18
81.26
1987
 
18,946
0.528
35,882
136.6
2.45
96.90
81.92
1988
 
19,919
0.549
36,305
138.2
1.18
96.81
81.61
1989
 
20,529
0.573
35,852
136.5
-1.25
95.79
80.63
1990
 
21,746
0.598
36,380
138.5
1.47
97.04
81.76
1991
 
22,894
0.618
37,061
141.1
1.87
97.70
83.14
1992
 
24,181
0.634
38,128
145.2
2.88
97.85
82.31
1993
 
25,143
0.650
38,682
147.3
1.45
98.70
83.53
1994
 
25,717
0.664
38,756
147.6
0.19
98.35
83.20
1995
 
26,284
0.678
38,793
147.7
0.10
98.41
83.16
1996
 
27,368
0.692
39,547
150.6
1.94
99.46
83.41
1997
 
28,181
0.704
40,026
152.4
1.21
99.20
82.36
1998
 
29,730
0.710
41,893
159.5
4.66
99.72
82.56
1999
 
30,993
0.720
43,045
163.9
2.75
99.85
82.10
2000
 
32,815
0.738
44,452
169.2
3.27
101.35
82.24
2001
 
34,151
0.753
45,352
172.7
2.03
102.13
82.34
2002
 
34,757
0.763
45,558
173.5
0.45
101.01
81.96
2003
 
36,158
0.779
46,419
176.7
1.89
101.60
82.83
2004
 
37,658
0.798
47,174
179.6
1.63
102.72
82.84
2005
 
38,110
0.821
46,404
176.7
-1.63
101.22
81.70
2006
 
39,572
0.844
46,864
178.4
0.99
101.45
81.69
2007
 
40,141
0.866
46,348
176.5
-1.10
100.62
81.29
2008
 
40,875
0.892
45,839
174.5
-1.10
100.42
81.27
2009
 
41,333
0.889
46,483
177.0
1.40
101.59
82.60
2010
 
41,949
0.905
46,345
176.5
-0.30
99.71
80.38
2011
 
42,658
0.928
45,966
175.0
-0.82
99.59
79.54
2012
 
43,981
0.945
46,524
177.1
1.21
98.11
79.88
2013
 
45,182
0.958
47,173
179.6
1.40
99.85
80.92
2014
 
45,998
0.971
47,362
180.3
0.40
99.06
80.71
2015
 
46,751
0.973
48,049
182.9
1.45
97.95
80.60
2016
 
47,185
0.983
48,008
182.8
-0.08
97.55
80.69
2017
 
48,425
1.000
48,425
184.4
0.87
97.17
80.27
2018
 
48,497
1.020
47,524
180.9
-1.86
96.13
78.09
2019
 
51,069
1.035
49,336
187.8
3.81
97.29
79.28
2020
 
53,322
1.046
50,960
194.0
3.29
98.79
79.14
2021
 
56,034
1.090
51,407
195.7
0.88
99.93
79.57
2022
 
57,469
1.160
49,524
188.6
-3.66
99.61
80.28
Source: Calculations by the South Carolina Regional Economic Analysis Project (SC-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_PSN
 
   

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

   
 
South Carolina:
Average Earnings Per Job, 1969-2022
 
1969
 
5,509
0.189
29,174
100.0
N
76.74
1970
 
5,805
0.198
29,367
100.7
0.66
76.42
1971
 
6,228
0.206
30,227
103.6
2.93
76.86
1972
 
6,755
0.213
31,702
108.7
4.88
77.73
1973
 
7,313
0.225
32,566
111.6
2.72
78.32
1974
 
7,948
0.248
32,058
109.9
-1.56
80.06
1975
 
8,534
0.269
31,771
108.9
-0.90
79.66
1976
 
9,331
0.283
32,934
112.9
3.66
80.80
1977
 
9,983
0.302
33,082
113.4
0.45
80.43
1978
 
10,906
0.323
33,791
115.8
2.14
81.05
1979
 
11,868
0.351
33,771
115.8
-0.06
81.47
1980
 
12,792
0.389
32,860
112.6
-2.70
81.70
1981
 
14,061
0.424
33,150
113.6
0.88
82.39
1982
 
14,801
0.448
33,059
113.3
-0.27
82.28
1983
 
15,773
0.467
33,792
115.8
2.22
83.37
1984
 
16,896
0.484
34,880
119.6
3.22
83.72
1985
 
17,663
0.501
35,235
120.8
1.02
83.59
1986
 
18,459
0.512
36,040
123.5
2.28
83.61
1987
 
19,553
0.528
37,031
126.9
2.75
84.55
1988
 
20,574
0.549
37,499
128.5
1.27
84.29
1989
 
21,431
0.573
37,426
128.3
-0.19
84.18
1990
 
22,409
0.598
37,488
128.5
0.16
84.25
1991
 
23,434
0.618
37,934
130.0
1.19
85.10
1992
 
24,711
0.634
38,965
133.6
2.72
84.12
1993
 
25,475
0.650
39,192
134.3
0.58
84.63
1994
 
26,149
0.664
39,408
135.1
0.55
84.60
1995
 
26,707
0.678
39,418
135.1
0.03
84.50
1996
 
27,515
0.692
39,760
136.3
0.87
83.86
1997
 
28,407
0.704
40,347
138.3
1.48
83.02
1998
 
29,814
0.710
42,011
144.0
4.12
82.79
1999
 
31,040
0.720
43,110
147.8
2.62
82.22
2000
 
32,377
0.738
43,859
150.3
1.74
81.14
2001
 
33,440
0.753
44,408
152.2
1.25
80.62
2002
 
34,408
0.763
45,100
154.6
1.56
81.14
2003
 
35,587
0.779
45,686
156.6
1.30
81.52
2004
 
36,661
0.798
45,925
157.4
0.52
80.65
2005
 
37,651
0.821
45,845
157.1
-0.18
80.71
2006
 
39,006
0.844
46,194
158.3
0.76
80.52
2007
 
39,894
0.866
46,063
157.9
-0.28
80.79
2008
 
40,705
0.892
45,649
156.5
-0.90
80.93
2009
 
40,686
0.889
45,755
156.8
0.23
81.30
2010
 
42,070
0.905
46,479
159.3
1.58
80.61
2011
 
42,831
0.928
46,153
158.2
-0.70
79.86
2012
 
44,826
0.945
47,418
162.5
2.74
81.41
2013
 
45,249
0.958
47,242
161.9
-0.37
81.04
2014
 
46,435
0.971
47,811
163.9
1.21
81.48
2015
 
47,728
0.973
49,053
168.1
2.60
82.28
2016
 
48,368
0.983
49,213
168.7
0.33
82.71
2017
 
49,834
1.000
49,834
170.8
1.26
82.60
2018
 
50,451
1.020
49,439
169.5
-0.79
81.24
2019
 
52,491
1.035
50,709
173.8
2.57
81.48
2020
 
53,977
1.046
51,586
176.8
1.73
80.11
2021
 
56,072
1.090
51,442
176.3
-0.28
79.62
2022
 
57,697
1.160
49,720
170.4
-3.35
80.60
Source: Calculations by the South Carolina Regional Economic Analysis Project (SC-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_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:
Average Earnings Per Job, 1969-2022
 
1969
 
7,179
0.189
38,018
100.0
N
1970
 
7,596
0.198
38,430
101.1
1.08
1971
 
8,103
0.206
39,326
103.4
2.33
1972
 
8,691
0.213
40,786
107.3
3.71
1973
 
9,336
0.225
41,579
109.4
1.94
1974
 
9,928
0.248
40,044
105.3
-3.69
1975
 
10,713
0.269
39,883
104.9
-0.40
1976
 
11,549
0.283
40,761
107.2
2.20
1977
 
12,412
0.302
41,131
108.2
0.91
1978
 
13,457
0.323
41,694
109.7
1.37
1979
 
14,568
0.351
41,454
109.0
-0.58
1980
 
15,657
0.389
40,220
105.8
-2.98
1981
 
17,066
0.424
40,237
105.8
0.04
1982
 
17,989
0.448
40,181
105.7
-0.14
1983
 
18,920
0.467
40,535
106.6
0.88
1984
 
20,181
0.484
41,663
109.6
2.78
1985
 
21,130
0.501
42,152
110.9
1.17
1986
 
22,078
0.512
43,104
113.4
2.26
1987
 
23,126
0.528
43,799
115.2
1.61
1988
 
24,408
0.549
44,487
117.0
1.57
1989
 
25,460
0.573
44,462
117.0
-0.05
1990
 
26,599
0.598
44,498
117.0
0.08
1991
 
27,537
0.618
44,577
117.3
0.18
1992
 
29,378
0.634
46,323
121.8
3.92
1993
 
30,101
0.650
46,309
121.8
-0.03
1994
 
30,909
0.664
46,580
122.5
0.59
1995
 
31,605
0.678
46,646
122.7
0.14
1996
 
32,810
0.692
47,411
124.7
1.64
1997
 
34,218
0.704
48,600
127.8
2.51
1998
 
36,011
0.710
50,743
133.5
4.41
1999
 
37,751
0.720
52,432
137.9
3.33
2000
 
39,903
0.738
54,053
142.2
3.09
2001
 
41,477
0.753
55,080
144.9
1.90
2002
 
42,406
0.763
55,584
146.2
0.92
2003
 
43,655
0.779
56,045
147.4
0.83
2004
 
45,456
0.798
56,943
149.8
1.60
2005
 
46,648
0.821
56,800
149.4
-0.25
2006
 
48,442
0.844
57,368
150.9
1.00
2007
 
49,382
0.866
57,019
150.0
-0.61
2008
 
50,298
0.892
56,407
148.4
-1.07
2009
 
50,041
0.889
56,276
148.0
-0.23
2010
 
52,191
0.905
57,661
151.7
2.46
2011
 
53,633
0.928
57,792
152.0
0.23
2012
 
55,061
0.945
58,245
153.2
0.78
2013
 
55,837
0.958
58,296
153.3
0.09
2014
 
56,990
0.971
58,680
154.3
0.66
2015
 
58,005
0.973
59,615
156.8
1.59
2016
 
58,480
0.983
59,501
156.5
-0.19
2017
 
60,329
1.000
60,329
158.7
1.39
2018
 
62,102
1.020
60,856
160.1
0.87
2019
 
64,419
1.035
62,233
163.7
2.26
2020
 
67,378
1.046
64,393
169.4
3.47
2021
 
70,421
1.090
64,606
169.9
0.33
2022
 
71,586
1.160
61,690
162.3
-4.51
Source: Calculations by the South Carolina Regional Economic Analysis Project (SC-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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To offer the most comprehensive set of interactive options in support of your research, SC-REAP calculates and crunches most of the data and generates the narrative and graphic analysis on demand in response to your request.
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