Lee County vs. Kentucky
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Lee County vs. Kentucky
Lee County:
2022 Earnings = $102,234K
2022 Percent of State = 0.06%
Kentucky:
2022 Earnings = $157,881,490K
2022 Percent of U.S. = 1.04%
Industry earnings are incomes received by people who are directly involved with producing goods and services. Earnings, referred to also as "labor and proprietors income", include (1) wage and salary disbursements, (2) other labor income such as employer contributions to private retirement and medical insurance programs, and (3) the net incomes of proprietors (i.e., the owners of unincorporated enterprises).
In contrast to the more frequently cited employment data, earnings data more accurately reflect qualitative differences in labor's contributions toward the production of goods and services, namely the productivity differences reflected in variations in earnings per job. Earnings data, therefore, are better for comparing and tracking long-term trends and identifying short-run shifts in the level and composition of economic activity within and among counties.
Just like the employment data compiled by BEA, earnings data are reported on a place-of-work, or more accurately on a place-where-earned, basis.
Note: the BEA earnings data presented and discussed here in the context of comparing and assessing the economic growth and performance of county and regional economies are entirely separate and apart from--and should not be confused with--corporate earnings, which are compiled from the balance sheets of individual private corporations.
Lee County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Lee County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Lee County's annual total industry earnings 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 Lee County over time.
When measured in current dollars, Lee County's total industry earnings increased 1,105.45%, from $8M in 1970 to $102M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 105.33%, from $43M in 1970 to $88M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Lee County's and Kentucky's annual real total industry earnings for the period 1969-2022 to illustrate real total industry earnings patterns over time. During this 54-year period, Lee County's real total industry earnings rose from $42M in 1969 to $88M in 2022, for a net gain of $46M, or 109.49%. In comparison, Kentucky's real total industry earnings increased from $41,952M in 1969 to $136,054M in 2022, for a net gain of $94,102M, or 224.31%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Lee County's real total industry earnings growth in a broader context by offering direct comparisons across time with Kentucky, the United States. The growth indices shown here express each region's real total industry earnings in 1969 as a base figure of 100, and the real total industry earningss in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real total industry earnings growth between regions that may differ vastly in size.
Lee County's overall real total industry earnings growth was 109.49% over 1969-2022 trailed Kentucky's increase of 224.31%, and fell below the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the Kentucky Total: 1969-2022
Total Industry Earnings as a Percent of the Kentucky Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total industry earnings growth of Lee County is to compare its individual percentage contributions to Kentucky's statewide total industry earnings over time, as shown in Figure 4. A rising share means a region's total industry earnings grew faster, or declined less, than Kentucky's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Lee County's total industry earnings totaled 0.10% of Kentucky's total industry earnings, while in 2022 it totaled 0.06% thereby yielding a -0.04% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.04%
=
0.06%
-
0.10%
 
   
Lee County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Lee County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Lee County's real total industry earnings 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, Lee County's real total industry earnings grew at an annual rate of 1.51% over 1970-2022. The county posted its highest growth in 1988 (14.93%) and posted its lowest growth in 1980 (-9.45%). In 2022, Lee County's real total industry earnings grew by 0.70%
Lee County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Lee County Real Total Industry Earnings:
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 Lee County's real total industry earnings 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, Lee County's annual real total industry earnings growth rate averaged 2.64%. It averaged 1.46% during the 1980s, 1.88% during the 1990s, 2.19% in the 2000s, -0.28% during the 2010s, 0.34% thus far this decade (2020-2022).
Real Total Industry Earnings Growth:
Average Annual Percent Change by Decade
Real Total Industry Earnings Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Lee County noted in the previous graph with the corresponding decade averages for Kentucky and the nation. As the chart reveals, Lee County's average annual real total industry earnings growth lagged Kentucky's average throughout the 1970s (2.64% vs. 4.06%), led Kentucky's average throughout the 1980s (1.46% vs. 1.28%), amounted to less than Kentucky's average in the 1990s (1.88% vs. 3.27%), topped Kentucky's average throughout the 2000s (2.19% vs. 1.21%), amounted to less than Kentucky's average throughout the 2010s (-0.28% vs. 1.77%), and posted below Kentucky's average over the 3 year period of the current decade, 2020-2022 (0.34% vs. 1.71%).
Finally, relative to nationwide real total industry earnings growth trends, Lee County trailed the nation throughout the 1970s (2.64% vs. 3.13%), recorded underneath the nation over the 1980s (1.46% vs. 2.62%), fell below the nation over the 1990s (1.88% vs. 3.43%), surpassed the nation during the 2000s (2.19% vs. 1.47%), lagged the nation in the 2010s (-0.28% vs. 2.53%), and fell under the nation over 2020-2022 (0.34% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
1.51
2.64
1.46
1.88
2.19
-0.28
0.34
0.70
 
2.28
4.06
1.28
3.27
1.21
1.77
1.71
0.38
 
2.57
3.13
2.62
3.43
1.47
2.53
1.48
0.05
 
   

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

   
 
Lee County:
Total Industry Earnings, 1969-2022
 
1969
 
7,941
0.189
42,054
100.0
N
0.10
1970
 
8,481
0.198
42,907
102.0
2.03
0.10
1971
 
9,848
0.206
47,794
113.7
11.39
0.11
1972
 
10,931
0.213
51,300
122.0
7.34
0.11
1973
 
11,518
0.225
51,294
122.0
-0.01
0.10
1974
 
12,186
0.248
49,151
116.9
-4.18
0.09
1975
 
13,560
0.269
50,484
120.0
2.71
0.10
1976
 
14,357
0.283
50,672
120.5
0.37
0.09
1977
 
15,713
0.302
52,071
123.8
2.76
0.09
1978
 
17,460
0.323
54,096
128.6
3.89
0.09
1979
 
19,029
0.351
54,147
128.8
0.10
0.09
1980
 
19,087
0.389
49,032
116.6
-9.45
0.08
1981
 
21,554
0.424
50,817
120.8
3.64
0.09
1982
 
23,187
0.448
51,790
123.2
1.92
0.09
1983
 
24,276
0.467
52,010
123.7
0.42
0.09
1984
 
27,779
0.484
57,348
136.4
10.27
0.09
1985
 
27,662
0.501
55,183
131.2
-3.78
0.09
1986
 
27,719
0.512
54,119
128.7
-1.93
0.09
1987
 
27,285
0.528
51,674
122.9
-4.52
0.08
1988
 
32,585
0.549
59,391
141.2
14.93
0.09
1989
 
35,070
0.573
61,246
145.6
3.12
0.09
1990
 
36,275
0.598
60,686
144.3
-0.91
0.09
1991
 
37,401
0.618
60,545
144.0
-0.23
0.08
1992
 
38,813
0.634
61,200
145.5
1.08
0.08
1993
 
40,661
0.650
62,555
148.8
2.21
0.08
1994
 
42,820
0.664
64,531
153.4
3.16
0.08
1995
 
44,495
0.678
65,671
156.2
1.77
0.08
1996
 
45,814
0.692
66,202
157.4
0.81
0.08
1997
 
50,778
0.704
72,121
171.5
8.94
0.08
1998
 
50,942
0.710
71,783
170.7
-0.47
0.08
1999
 
52,935
0.720
73,520
174.8
2.42
0.08
2000
 
56,772
0.738
76,904
182.9
4.60
0.08
2001
 
58,979
0.753
78,323
186.2
1.85
0.08
2002
 
64,428
0.763
84,450
200.8
7.82
0.08
2003
 
68,602
0.779
88,071
209.4
4.29
0.08
2004
 
73,867
0.798
92,534
220.0
5.07
0.09
2005
 
77,130
0.821
93,916
223.3
1.49
0.08
2006
 
71,960
0.844
85,220
202.6
-9.26
0.08
2007
 
73,895
0.866
85,322
202.9
0.12
0.08
2008
 
80,531
0.892
90,312
214.8
5.85
0.08
2009
 
80,361
0.889
90,373
214.9
0.07
0.08
2010
 
85,611
0.905
94,583
224.9
4.66
0.09
2011
 
85,713
0.928
92,359
219.6
-2.35
0.08
2012
 
86,249
0.945
91,236
217.0
-1.22
0.08
2013
 
83,205
0.958
86,870
206.6
-4.79
0.07
2014
 
82,862
0.971
85,318
202.9
-1.79
0.07
2015
 
81,359
0.973
83,618
198.8
-1.99
0.07
2016
 
78,630
0.983
80,003
190.2
-4.32
0.07
2017
 
77,925
1.000
77,925
185.3
-2.60
0.06
2018
 
85,998
1.020
84,273
200.4
8.15
0.07
2019
 
90,272
1.035
87,208
207.4
3.48
0.07
2020
 
91,437
1.046
87,387
207.8
0.20
0.07
2021
 
95,359
1.090
87,485
208.0
0.11
0.06
2022
 
102,234
1.160
88,100
209.5
0.70
0.06
Source: Calculations by the Kentucky Regional Economic Analysis Project (KY-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PSN
 
   

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

   
 
Kentucky:
Total Industry Earnings, 1969-2022
 
1969
 
7,921,774
0.189
41,951,883
100.0
N
1.21
1970
 
8,450,879
0.198
42,754,624
101.9
1.91
1.22
1971
 
9,180,222
0.206
44,553,371
106.2
4.21
1.24
1972
 
10,214,500
0.213
47,937,394
114.3
7.60
1.25
1973
 
11,544,541
0.225
51,411,895
122.5
7.25
1.26
1974
 
12,867,920
0.248
51,901,424
123.7
0.95
1.29
1975
 
13,589,288
0.269
50,593,031
120.6
-2.52
1.28
1976
 
15,371,828
0.283
54,254,149
129.3
7.24
1.31
1977
 
17,430,475
0.302
57,762,709
137.7
6.47
1.34
1978
 
19,546,990
0.323
60,561,997
144.4
4.85
1.32
1979
 
21,839,279
0.351
62,144,037
148.1
2.61
1.32
1980
 
22,749,629
0.389
58,440,272
139.3
-5.96
1.27
1981
 
24,858,226
0.424
58,607,158
139.7
0.29
1.27
1982
 
25,688,514
0.448
57,377,575
136.8
-2.10
1.25
1983
 
26,293,695
0.467
56,332,366
134.3
-1.82
1.20
1984
 
29,863,190
0.484
61,651,128
147.0
9.44
1.23
1985
 
31,124,849
0.501
62,090,746
148.0
0.71
1.19
1986
 
31,876,688
0.512
62,236,061
148.4
0.23
1.14
1987
 
34,206,540
0.528
64,782,660
154.4
4.09
1.14
1988
 
37,605,240
0.549
68,541,402
163.4
5.80
1.15
1989
 
40,081,811
0.573
69,998,447
166.9
2.13
1.16
1990
 
42,389,611
0.598
70,915,284
169.0
1.31
1.15
1991
 
44,288,348
0.618
71,694,156
170.9
1.10
1.17
1992
 
48,270,644
0.634
76,112,652
181.4
6.16
1.19
1993
 
50,386,137
0.650
77,517,134
184.8
1.85
1.19
1994
 
53,110,657
0.664
80,038,967
190.8
3.25
1.19
1995
 
54,927,398
0.678
81,068,864
193.2
1.29
1.17
1996
 
58,007,891
0.692
83,822,798
199.8
3.40
1.17
1997
 
61,686,584
0.704
87,614,277
208.8
4.52
1.17
1998
 
65,425,209
0.710
92,191,031
219.8
5.22
1.15
1999
 
69,459,277
0.720
96,469,878
230.0
4.64
1.14
2000
 
74,352,005
0.738
100,717,950
240.1
4.40
1.13
2001
 
76,453,440
0.753
101,529,096
242.0
0.81
1.11
2002
 
78,523,102
0.763
102,925,774
245.3
1.38
1.12
2003
 
81,581,615
0.779
104,734,145
249.7
1.76
1.13
2004
 
86,805,994
0.798
108,742,648
259.2
3.83
1.13
2005
 
91,211,944
0.821
111,062,067
264.7
2.13
1.13
2006
 
94,922,796
0.844
112,414,491
268.0
1.22
1.11
2007
 
97,722,892
0.866
112,834,866
269.0
0.37
1.10
2008
 
99,794,612
0.892
111,915,007
266.8
-0.82
1.11
2009
 
96,512,103
0.889
108,536,907
258.7
-3.02
1.11
2010
 
100,659,621
0.905
111,208,897
265.1
2.46
1.12
2011
 
104,936,592
0.928
113,073,350
269.5
1.68
1.11
2012
 
108,328,484
0.945
114,592,088
273.2
1.34
1.10
2013
 
111,269,107
0.958
116,170,333
276.9
1.38
1.09
2014
 
113,919,189
0.971
117,296,145
279.6
0.97
1.07
2015
 
118,463,724
0.973
121,752,252
290.2
3.80
1.07
2016
 
120,008,736
0.983
122,104,041
291.1
0.29
1.06
2017
 
123,663,315
1.000
123,663,315
294.8
1.28
1.04
2018
 
127,920,844
1.020
125,354,831
298.8
1.37
1.03
2019
 
133,891,806
1.035
129,347,817
308.3
3.19
1.03
2020
 
136,111,717
1.046
130,082,398
310.1
0.57
1.03
2021
 
147,740,519
1.090
135,540,517
323.1
4.20
1.03
2022
 
157,881,490
1.160
136,054,299
324.3
0.38
1.04
Source: Calculations by the Kentucky Regional Economic Analysis Project (KY-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_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 Industry Earnings, 1969-2022
 
1969
 
653,665,000
0.189
3,461,658,635
100.0
N
1970
 
693,352,000
0.198
3,507,801,275
101.3
1.33
1971
 
742,094,000
0.206
3,601,523,902
104.0
2.67
1972
 
819,646,000
0.213
3,846,658,532
111.1
6.81
1973
 
918,964,000
0.225
4,092,469,383
118.2
6.39
1974
 
993,909,000
0.248
4,008,829,105
115.8
-2.04
1975
 
1,059,492,000
0.269
3,944,497,394
113.9
-1.60
1976
 
1,173,271,000
0.283
4,141,005,188
119.6
4.98
1977
 
1,303,767,000
0.302
4,320,542,816
124.8
4.34
1978
 
1,476,080,000
0.323
4,573,305,242
132.1
5.85
1979
 
1,648,363,000
0.351
4,690,444,754
135.5
2.56
1980
 
1,784,597,000
0.389
4,584,353,165
132.4
-2.26
1981
 
1,961,173,000
0.424
4,623,772,250
133.6
0.86
1982
 
2,053,729,000
0.448
4,587,185,902
132.5
-0.79
1983
 
2,188,018,000
0.467
4,687,672,466
135.4
2.19
1984
 
2,432,402,000
0.484
5,021,577,654
145.1
7.12
1985
 
2,615,791,000
0.501
5,218,223,348
150.7
3.92
1986
 
2,786,901,000
0.512
5,441,146,840
157.2
4.27
1987
 
2,996,000,000
0.528
5,674,027,499
163.9
4.28
1988
 
3,259,979,000
0.549
5,941,819,010
171.6
4.72
1989
 
3,467,027,000
0.573
6,054,778,994
174.9
1.90
1990
 
3,679,460,000
0.598
6,155,516,520
177.8
1.66
1991
 
3,789,428,000
0.618
6,134,341,309
177.2
-0.34
1992
 
4,059,023,000
0.634
6,400,225,481
184.9
4.33
1993
 
4,237,437,000
0.650
6,519,133,846
188.3
1.86
1994
 
4,456,948,000
0.664
6,716,721,924
194.0
3.03
1995
 
4,674,849,000
0.678
6,899,738,761
199.3
2.72
1996
 
4,956,180,000
0.692
7,161,799,344
206.9
3.80
1997
 
5,288,047,000
0.704
7,510,683,597
217.0
4.87
1998
 
5,707,014,000
0.710
8,041,785,619
232.3
7.07
1999
 
6,098,042,000
0.720
8,469,385,147
244.7
5.32
2000
 
6,598,743,000
0.738
8,938,721,519
258.2
5.54
2001
 
6,865,291,000
0.753
9,117,010,172
263.4
1.99
2002
 
7,001,002,000
0.763
9,176,707,606
265.1
0.65
2003
 
7,243,377,000
0.779
9,299,017,896
268.6
1.33
2004
 
7,674,785,000
0.798
9,614,272,113
277.7
3.39
2005
 
8,039,238,000
0.821
9,788,788,097
282.8
1.82
2006
 
8,519,349,000
0.844
10,089,233,775
291.5
3.07
2007
 
8,866,261,000
0.866
10,237,349,175
295.7
1.47
2008
 
9,014,085,000
0.892
10,108,876,304
292.0
-1.25
2009
 
8,688,913,000
0.889
9,771,497,172
282.3
-3.34
2010
 
9,023,916,000
0.905
9,969,635,637
288.0
2.03
2011
 
9,444,387,000
0.928
10,176,702,513
294.0
2.08
2012
 
9,854,834,000
0.945
10,424,645,101
301.1
2.44
2013
 
10,180,570,000
0.958
10,629,007,841
307.0
1.96
2014
 
10,613,874,000
0.971
10,928,505,678
315.7
2.82
2015
 
11,039,821,000
0.973
11,346,284,134
327.8
3.82
2016
 
11,311,477,000
0.983
11,508,970,941
332.5
1.43
2017
 
11,848,205,000
1.000
11,848,205,000
342.3
2.95
2018
 
12,438,590,000
1.020
12,189,079,542
352.1
2.88
2019
 
12,989,097,000
1.035
12,548,276,062
362.5
2.95
2020
 
13,158,025,000
1.046
12,575,166,053
363.3
0.21
2021
 
14,278,043,000
1.090
13,099,001,844
378.4
4.17
2022
 
15,207,952,000
1.160
13,105,445,395
378.6
0.05
Source: Calculations by the Kentucky Regional Economic Analysis Project (KY-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PN
 
   
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