BEA releases new income distribution data tool
Useful Stats: Drivers of personal income are revealed at the county level
Personal income has nearly quadrupled in constant dollars over the past 56 years, from approximately $791 billion in 1969 to $2.9 trillion by 2024 in inflation-adjusted 1969 USD ($24.9 trillion in current dollars, increasing an average of seven percent each year), reveals SSTI analysis of the full breadth of newly released U.S. Bureau of Economic Analysis (BEA) data. Standardized by population, growth is more conservative, with an average annual current dollar increase of 5%; in 1969, per capita personal income (PCPI) was just $3,931, but by 2024 had risen to $8,100 when adjusted for inflation to 1969 USD ($69,273 in current dollars).
Useful Stats: Reviewing 50 years of personal income by county
Personal income[1] has increased from $1.25 trillion in 1974 to $23.38 trillion in 2023 nationwide, a nearly nineteen-fold increase over the past 50 years. Meanwhile, per capita personal income (PCPI), a metric of personal income standardized by population, has only seen a twelvefold increase from $5,836 to $69,810 over the same period. SSTI reveals these numbers from its analysis of new U.S.
Useful Stats: Income inequality across the states
Income inequality in the U.S. has increased from 2006 to 2022, according to American Community Survey (ACS) data. While it’s increased in the nation as a whole, it decreased in North Dakota, Washington, Hawaii, Nebraska, and Montana from 2018 to 2022. New York and Washington, D.C. lead the nation in income inequality. This edition of Useful Stats explores state-level Gini index data from the U.S.
Useful Stats: Age, Income, and Educational Attainment in 2022
The United States boasts the world’s largest economy and is home to many of the most prestigious, highly ranked universities across the globe, leading to a highly educated population. Overall, advanced education pays off in terms of personal earnings and national innovation. Factors like field of study, skills, and job demand can greatly affect earning potential.
Useful Stats: 5-year analysis of per capita personal income, 2018-2022
A new Bureau of Economic Analysis (BEA) release shows that over the past five years of available data (2018-2022), nationwide per capita personal income increased by 21.64%, rising from $53,786 to $65,423, with an average yearly percentage change of +5.04%.