Williamsburg County vs. South Carolina
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Williamsburg County vs. South Carolina
Williamsburg County:
2022 TPI = $1,155,619K
2022 Percent of State = 0.41%
South Carolina:
2022 TPI = $283,245,781K
2022 Percent of U.S. = 1.30%
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 Williamsburg County and South Carolina 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.
Williamsburg County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Williamsburg County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Williamsburg 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 Williamsburg County over time.
When measured in current dollars, Williamsburg County's total personal income increased 1,549.82%, from $70M in 1970 to $1,156M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 181.02%, from $354M in 1970 to $996M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Williamsburg County's and South Carolina'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, Williamsburg County's real total personal income rose from $342M in 1969 to $996M in 2022, for a net gain of $654M, or 191.61%. In comparison, South Carolina's real total personal income increased from $40,271M in 1969 to $244,087M in 2022, for a net advance of $203,816M, or 506.11%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Williamsburg County's real total personal income 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 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.
Williamsburg County's overall real total personal income growth was 191.61% over 1969-2022 trailed South Carolina's increase of 506.11%, and fell below the United States' increase of 348.76%.
Total Personal Income as a Percent of the South Carolina Total: 1969-2022
Total Personal Income as a Percent of the South Carolina Total: 1969-2022
Figure 4.
Another interesting and insightful way of comparing the total personal income growth of Williamsburg County is to compare its individual percentage contributions to South Carolina'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 South Carolina's total personal income, while a declining share shows it grew more slowly.
In 1969, Williamsburg County's total personal income comprised 0.85% of South Carolina's total personal income, while in 2022 it totaled 0.41% thereby yielding a -0.44% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.44%
=
0.41%
-
0.85%
 
   
Williamsburg County Real Total Personal Income:
Annual Percent Change, 1970-2022
Williamsburg County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Williamsburg 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 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, Williamsburg County's real total personal income grew at an annual rate of 2.10% over 1970-2022. The county recorded its highest growth in 1972 (9.81%) and recorded its lowest growth in 2022 (-9.94%). In 2022, Williamsburg County's real total personal income declined by -9.94%
Williamsburg County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Williamsburg 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 Williamsburg 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, 2010s, and 2020-2022.
During the 1970s, Williamsburg County's annual real total personal income growth rate averaged 4.53%. It averaged 2.62% during the 1980s, 1.44% throughout the 1990s, 1.63% during the 2000s, 0.87% throughout the 2010s, 0.10% 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 Williamsburg County noted in the previous graph with the corresponding decade averages for South Carolina and the nation. As the chart reveals, Williamsburg County's average annual real total personal income growth trailed South Carolina's average during the 1970s (4.53% vs. 4.67%), amounted to less than South Carolina's average throughout the 1980s (2.62% vs. 3.77%), fell below South Carolina's average in the 1990s (1.44% vs. 3.63%), trailed South Carolina's average throughout the 2000s (1.63% vs. 2.37%), trailed South Carolina's average in the 2010s (0.87% vs. 3.22%), and recorded under South Carolina's average over the 3 year period of the current decade, 2020-2022 (0.10% vs. 2.62%).
Finally, relative to nationwide real total personal income growth trends, Williamsburg County outpaced the nation in the 1970s (4.53% vs. 3.50%), posted below the nation in the 1980s (2.62% vs. 3.16%), posted below the nation over the 1990s (1.44% vs. 3.27%), fell under the nation throughout the 2000s (1.63% vs. 2.06%), posted below the nation during the 2010s (0.87% vs. 2.72%), and posted below the nation over 2020-2022 (0.10% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
2.10
4.53
2.62
1.44
1.63
0.87
0.10
-9.94
 
3.48
4.67
3.77
3.63
2.37
3.22
2.62
-3.02
 
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.

   
 
Williamsburg County:
Total Personal Income, 1969-2022
 
1969
 
64,486
0.189
341,503
100.0
N
0.85
1970
 
70,045
0.198
354,371
103.8
3.77
0.84
1971
 
75,943
0.206
368,566
107.9
4.01
0.83
1972
 
86,235
0.213
404,707
118.5
9.81
0.84
1973
 
97,941
0.225
436,166
127.7
7.77
0.84
1974
 
117,275
0.248
473,017
138.5
8.45
0.89
1975
 
129,050
0.269
480,454
140.7
1.57
0.90
1976
 
139,286
0.283
491,603
144.0
2.32
0.87
1977
 
148,289
0.302
491,414
143.9
-0.04
0.84
1978
 
171,012
0.323
529,843
155.2
7.82
0.86
1979
 
185,891
0.351
528,956
154.9
-0.17
0.83
1980
 
197,282
0.389
506,787
148.4
-4.19
0.79
1981
 
228,986
0.424
539,870
158.1
6.53
0.81
1982
 
240,303
0.448
536,738
157.2
-0.58
0.80
1983
 
266,686
0.467
571,356
167.3
6.45
0.82
1984
 
283,036
0.484
584,314
171.1
2.27
0.78
1985
 
298,692
0.501
595,859
174.5
1.98
0.77
1986
 
314,891
0.512
614,793
180.0
3.18
0.76
1987
 
335,719
0.528
635,807
186.2
3.42
0.76
1988
 
361,824
0.549
659,481
193.1
3.72
0.75
1989
 
390,539
0.573
682,033
199.7
3.42
0.74
1990
 
405,590
0.598
678,528
198.7
-0.51
0.72
1991
 
427,655
0.618
692,290
202.7
2.03
0.73
1992
 
458,879
0.634
723,556
211.9
4.52
0.73
1993
 
473,504
0.650
728,468
213.3
0.68
0.72
1994
 
503,581
0.664
758,908
222.2
4.18
0.72
1995
 
510,622
0.678
753,641
220.7
-0.69
0.69
1996
 
520,097
0.692
751,553
220.1
-0.28
0.66
1997
 
539,088
0.704
765,674
224.2
1.88
0.64
1998
 
548,393
0.710
772,744
226.3
0.92
0.61
1999
 
565,943
0.720
786,021
230.2
1.72
0.60
2000
 
604,189
0.738
818,440
239.7
4.12
0.60
2001
 
639,939
0.753
849,830
248.8
3.84
0.61
2002
 
621,020
0.763
814,015
238.4
-4.21
0.58
2003
 
647,788
0.779
831,628
243.5
2.16
0.58
2004
 
656,931
0.798
822,943
241.0
-1.04
0.56
2005
 
692,467
0.821
843,166
246.9
2.46
0.56
2006
 
717,088
0.844
849,228
248.7
0.72
0.53
2007
 
745,575
0.866
860,872
252.1
1.37
0.52
2008
 
795,313
0.892
891,906
261.2
3.61
0.53
2009
 
819,293
0.889
921,372
269.8
3.30
0.56
2010
 
868,516
0.905
959,538
281.0
4.14
0.57
2011
 
909,032
0.928
979,518
286.8
2.08
0.57
2012
 
874,400
0.945
924,958
270.8
-5.57
0.52
2013
 
901,254
0.958
940,953
275.5
1.73
0.53
2014
 
927,747
0.971
955,249
279.7
1.52
0.51
2015
 
936,982
0.973
962,992
282.0
0.81
0.49
2016
 
954,348
0.983
971,011
284.3
0.83
0.48
2017
 
975,533
1.000
975,533
285.7
0.47
0.46
2018
 
999,118
1.020
979,076
286.7
0.36
0.45
2019
 
1,037,052
1.035
1,001,857
293.4
2.33
0.44
2020
 
1,139,691
1.046
1,089,206
318.9
8.72
0.46
2021
 
1,205,266
1.090
1,105,738
323.8
1.52
0.44
2022
 
1,155,619
1.160
995,854
291.6
-9.94
0.41
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_300_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:
Total Personal Income, 1969-2022
 
1969
 
7,604,376
0.189
40,271,016
100.0
N
0.96
1970
 
8,380,439
0.198
42,398,255
105.3
5.28
0.98
1971
 
9,180,919
0.206
44,556,753
110.6
5.09
0.99
1972
 
10,308,853
0.213
48,380,200
120.1
8.58
1.01
1973
 
11,692,290
0.225
52,069,873
129.3
7.63
1.03
1974
 
13,234,649
0.248
53,380,587
132.6
2.52
1.06
1975
 
14,394,289
0.269
53,590,056
133.1
0.39
1.06
1976
 
16,096,281
0.283
56,811,072
141.1
6.01
1.08
1977
 
17,592,494
0.302
58,299,622
144.8
2.62
1.07
1978
 
19,879,133
0.323
61,591,068
152.9
5.65
1.07
1979
 
22,283,228
0.351
63,407,302
157.5
2.95
1.07
1980
 
24,971,758
0.389
64,148,577
159.3
1.17
1.08
1981
 
28,101,834
0.424
66,254,471
164.5
3.28
1.08
1982
 
29,878,270
0.448
66,735,766
165.7
0.73
1.08
1983
 
32,452,170
0.467
69,526,459
172.6
4.18
1.09
1984
 
36,148,865
0.484
74,627,604
185.3
7.34
1.10
1985
 
38,691,618
0.501
77,185,641
191.7
3.43
1.10
1986
 
41,354,869
0.512
80,741,266
200.5
4.61
1.11
1987
 
44,239,758
0.528
83,784,247
208.1
3.77
1.13
1988
 
48,206,088
0.549
87,863,097
218.2
4.87
1.13
1989
 
52,466,539
0.573
91,627,004
227.5
4.28
1.14
1990
 
56,391,004
0.598
94,338,777
234.3
2.96
1.15
1991
 
58,930,883
0.618
95,397,551
236.9
1.12
1.16
1992
 
62,654,657
0.634
98,793,215
245.3
3.56
1.16
1993
 
65,852,021
0.650
101,310,802
251.6
2.55
1.17
1994
 
69,837,510
0.664
105,246,715
261.3
3.88
1.18
1995
 
73,997,450
0.678
109,214,880
271.2
3.77
1.18
1996
 
78,651,981
0.692
113,654,005
282.2
4.06
1.18
1997
 
83,696,770
0.704
118,875,637
295.2
4.59
1.18
1998
 
89,751,886
0.710
126,469,889
314.0
6.39
1.18
1999
 
94,148,461
0.720
130,759,935
324.7
3.39
1.18
2000
 
100,705,331
0.738
136,416,422
338.7
4.33
1.17
2001
 
104,242,061
0.753
138,431,995
343.8
1.48
1.16
2002
 
107,305,288
0.763
140,652,617
349.3
1.60
1.17
2003
 
111,196,686
0.779
142,753,853
354.5
1.49
1.17
2004
 
117,451,820
0.798
147,132,950
365.4
3.07
1.17
2005
 
124,416,985
0.821
151,493,400
376.2
2.96
1.18
2006
 
134,174,152
0.844
158,898,806
394.6
4.89
1.19
2007
 
143,055,124
0.866
165,177,323
410.2
3.95
1.20
2008
 
149,954,405
0.892
168,166,878
417.6
1.81
1.21
2009
 
146,753,696
0.889
165,038,288
409.8
-1.86
1.22
2010
 
151,745,851
0.905
167,649,039
416.3
1.58
1.21
2011
 
160,391,125
0.928
172,827,815
429.2
3.09
1.21
2012
 
168,271,228
0.945
178,000,749
442.0
2.99
1.21
2013
 
170,204,761
0.958
177,702,009
441.3
-0.17
1.21
2014
 
180,837,663
0.971
186,198,312
462.4
4.78
1.22
2015
 
192,054,676
0.973
197,386,074
490.1
6.01
1.24
2016
 
200,027,426
0.983
203,519,826
505.4
3.11
1.26
2017
 
210,387,551
1.000
210,387,551
522.4
3.37
1.26
2018
 
219,942,068
1.020
215,530,166
535.2
2.44
1.26
2019
 
234,324,036
1.035
226,371,602
562.1
5.03
1.28
2020
 
250,288,341
1.046
239,201,358
594.0
5.67
1.28
2021
 
274,347,818
1.090
251,692,937
625.0
5.22
1.28
2022
 
283,245,781
1.160
244,086,917
606.1
-3.02
1.30
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_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 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_300_PN
 
   
Copyright © 2024. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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