Converse County vs. Wyoming
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2020
Introduction
Converse County vs. Wyoming
Converse County:
2020 Earnings = $613,242K
2020 Percent of State = 2.7%
Wyoming:
2020 Earnings = $22,839,906K
2020 Percent of U.S. = 0.2%
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.
Converse County Total Industry Earnings, 1970-2020
Current vs. Constant Dollars (Millions)
Converse County Total Industry Earnings, 1970-2020
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Converse County's annual total industry earnings over 1970-2020 in current and constant (2012) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Converse County over time.
When measured in current dollars, Converse County's total industry earnings increased 3,251.8%, from $18M in 1970 to $613M in 2020. When measured in constant 2012 dollars to adjust for inflation, it advanced 530.1%, from $87M in 1970 to $551M in 2020.
Real Total Industry Earnings, 1969-2020 (Millions)
Real Total Industry Earnings, 1969-2020 (Millions)
Figure 2.
Figure 2 traces Converse County's and Wyoming's annual real total industry earnings for the period 1969-2020 to illustrate real total industry earnings patterns over time. During this 52-year period, Converse County's real total industry earnings rose from $91M in 1969 to $551M in 2020, for a net gain of $460M, or 503.9%. In comparison, Wyoming's real total industry earnings advanced from $4,909M in 1969 to $20,535M in 2020, for a net gain of $15,626M, or 318.3%.
Real Total Industry Earnings Indices (1969=100): 1969-2020
Real Total Industry Earnings Indices (1969=100): 1969-2020
Figure 3.
Figure 3 shows Converse County's real total industry earnings growth in a broader context by offering direct comparisons across time with Wyoming, 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.
Converse County's overall real total industry earnings growth was 503.9% over 1969-2020 outpaced Wyoming's increase of 318.3%, and outpaced the United States' increase of 262.7%.
Total Industry Earnings as a Percent of the Wyoming Total: 1969-2020
Total Industry Earnings as a Percent of the Wyoming Total: 1969-2020
Figure 4.
Another interesting and insightful way of comparing the total industry earnings growth of Converse County is to trace its individual percentage contributions to Wyoming'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 Wyoming's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Converse County's total industry earnings comprised 1.9% of Wyoming's total industry earnings, while in 2020 it equated to 2.7% thereby yielding a +0.8% share-shift.
   
 
Total Industry Earnings Share-Shift
2020 vs. 1969
 
Share-
Shift*
 
2020
vs.
1969
+0.83%
=
2.68%
-
1.86%
 
   
Converse County Real Total Industry Earnings:
Annual Percent Change, 1970-2020
Converse County Real Total Industry Earnings:
Annual Percent Change, 1970-2020
Figure 5.
Figure 5 highlights the short-run pattern of Converse County's real total industry earnings growth by tracking the year-to-year percent change over 1970-2020. The average annual percent change for the entire 51-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, Converse County's real total industry earnings grew at an annual rate of 4.16% over 1970-2020. The county posted its highest growth in 1971 (36.14%) and recorded its lowest growth in 1982 (-16.77%). In 2020, Converse County's real total industry earnings declined by -14.62%
Converse County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2020
Converse County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2020
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 shows the annual percent change in Converse County's real total industry earnings since 1970, but this time they are displayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, and 2020.
During the 1970s, Converse County's annual real total industry earnings growth rate averaged 13.36%. It averaged -3.17% throughout the 1980s, 2.52% throughout the 1990s, 4.54% throughout the 2000s, 5.41% throughout the 2010s, and -14.62% in 2020.
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 Converse County noted in the previous graph with the corresponding decade averages for Wyoming and the nation. As the chart reveals, Converse County's average annual real total industry earnings growth outperformed Wyoming's average throughout the 1970s (13.36% vs. 8.24%), recorded under Wyoming's average during the 1980s (-3.17% vs. -1.61%), amounted to less than Wyoming's average during the 1990s (2.52% vs. 2.85%), registered above Wyoming's average throughout the 2000s (4.54% vs. 4.53%), and outpaced Wyoming's average over the 10 year period of the last decade, 2010-2019 (5.41% vs. 1.41%). In 2020, Converse County's growth has lagged Wyoming's average (-14.62% vs. -3.27%).
Finally, relative to nationwide real total industry earnings growth trends, Converse County surpassed the nation over the 1970s (13.36% vs. 3.13%), fell under the nation during the 1980s (-3.17% vs. 2.62%), recorded underneath the nation over the 1990s (2.52% vs. 3.43%), topped the nation throughout the 2000s (4.54% vs. 1.47%), and exceeded the nation over 2010-2019 (5.41% vs. 2.52%). In 2020, growth for Converse County has amounted to less than the national average (-14.62% vs. 0.18%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
4.16
13.36
-3.17
2.52
4.54
5.41
-14.62
 
2.96
8.24
-1.61
2.85
4.53
1.41
-3.27
 
2.59
3.13
2.62
3.43
1.47
2.52
0.18
 
   

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

   
 
Converse County:
Total Industry Earnings, 1969-2020
 
1969
 
18,238
0.200
91,300
100.0
N
1.86
1970
 
18,296
0.209
87,499
95.8
-4.16
1.71
1971
 
25,966
0.218
119,121
130.5
36.14
2.20
1972
 
30,793
0.225
136,603
149.6
14.68
2.28
1973
 
28,827
0.238
121,346
132.9
-11.17
1.81
1974
 
34,711
0.262
132,338
144.9
9.06
1.84
1975
 
45,879
0.284
161,460
176.8
22.01
2.16
1976
 
58,879
0.300
196,434
215.2
21.66
2.48
1977
 
75,866
0.319
237,653
260.3
20.98
2.71
1978
 
88,331
0.341
258,694
283.3
8.85
2.60
1979
 
111,153
0.372
298,975
327.5
15.57
2.77
1980
 
145,572
0.412
353,485
387.2
18.23
3.15
1981
 
149,159
0.449
332,417
364.1
-5.96
2.87
1982
 
131,037
0.474
276,665
303.0
-16.77
2.49
1983
 
122,037
0.494
247,149
270.7
-10.67
2.43
1984
 
129,789
0.512
253,281
277.4
2.48
2.49
1985
 
136,161
0.530
256,757
281.2
1.37
2.51
1986
 
138,574
0.542
255,747
280.1
-0.39
2.61
1987
 
127,187
0.559
227,709
249.4
-10.96
2.54
1988
 
123,727
0.580
213,183
233.5
-6.38
2.42
1989
 
125,669
0.606
207,470
227.2
-2.68
2.28
1990
 
124,155
0.632
196,351
215.1
-5.36
2.08
1991
 
132,515
0.653
202,793
222.1
3.28
2.13
1992
 
141,210
0.671
210,488
230.5
3.79
2.16
1993
 
151,165
0.688
219,851
240.8
4.45
2.17
1994
 
153,077
0.702
218,080
238.9
-0.81
2.13
1995
 
154,447
0.717
215,494
236.0
-1.19
2.10
1996
 
161,895
0.732
221,156
242.2
2.63
2.13
1997
 
179,180
0.745
240,581
263.5
8.78
2.19
1998
 
186,716
0.751
248,723
272.4
3.38
2.19
1999
 
201,303
0.762
264,302
289.5
6.26
2.20
2000
 
205,919
0.781
263,694
288.8
-0.23
2.11
2001
 
215,638
0.797
270,712
296.5
2.66
2.05
2002
 
220,647
0.807
273,410
299.5
1.00
2.01
2003
 
234,158
0.824
284,179
311.3
3.94
2.03
2004
 
248,040
0.844
293,737
321.7
3.36
2.06
2005
 
270,627
0.869
311,510
341.2
6.05
2.08
2006
 
295,391
0.893
330,704
362.2
6.16
1.96
2007
 
322,298
0.916
351,800
385.3
6.38
1.98
2008
 
387,972
0.943
411,314
450.5
16.92
2.13
2009
 
383,624
0.941
407,842
446.7
-0.84
2.20
2010
 
391,837
0.957
409,242
448.2
0.34
2.14
2011
 
422,607
0.982
430,485
471.5
5.19
2.17
2012
 
463,809
1.000
463,809
508.0
7.74
2.28
2013
 
505,759
1.014
499,003
546.6
7.59
2.40
2014
 
555,752
1.029
540,158
591.6
8.25
2.49
2015
 
555,894
1.031
539,096
590.5
-0.20
2.50
2016
 
468,092
1.041
449,449
492.3
-16.63
2.26
2017
 
458,731
1.061
432,557
473.8
-3.76
2.17
2018
 
519,232
1.083
479,359
525.0
10.82
2.30
2019
 
709,855
1.099
645,781
707.3
34.72
3.04
2020
 
613,242
1.112
551,353
603.9
-14.62
2.68
Source: Calculations by the Wyoming Regional Economic Analysis Project (WY-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2021
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.

   
 
Wyoming:
Total Industry Earnings, 1969-2020
 
1969
 
980,672
0.200
4,909,251
100.0
N
0.15
1970
 
1,070,032
0.209
5,117,322
104.2
4.24
0.15
1971
 
1,181,243
0.218
5,419,043
110.4
5.90
0.16
1972
 
1,351,718
0.225
5,996,442
122.1
10.66
0.16
1973
 
1,595,588
0.238
6,716,568
136.8
12.01
0.17
1974
 
1,881,969
0.262
7,175,146
146.2
6.83
0.19
1975
 
2,124,992
0.284
7,478,416
152.3
4.23
0.20
1976
 
2,369,397
0.300
7,904,841
161.0
5.70
0.20
1977
 
2,803,955
0.319
8,783,495
178.9
11.12
0.22
1978
 
3,395,755
0.341
9,945,102
202.6
13.22
0.23
1979
 
4,013,502
0.372
10,795,368
219.9
8.55
0.24
1980
 
4,623,421
0.412
11,226,801
228.7
4.00
0.26
1981
 
5,197,409
0.449
11,583,002
235.9
3.17
0.27
1982
 
5,270,734
0.474
11,128,379
226.7
-3.92
0.26
1983
 
5,012,007
0.494
10,150,284
206.8
-8.79
0.23
1984
 
5,206,765
0.512
10,160,929
207.0
0.10
0.21
1985
 
5,431,677
0.530
10,242,456
208.6
0.80
0.21
1986
 
5,318,647
0.542
9,815,900
199.9
-4.16
0.19
1987
 
5,010,367
0.559
8,970,311
182.7
-8.61
0.17
1988
 
5,104,487
0.580
8,795,077
179.2
-1.95
0.16
1989
 
5,499,884
0.606
9,079,912
185.0
3.24
0.16
1990
 
5,954,978
0.632
9,417,814
191.8
3.72
0.16
1991
 
6,209,148
0.653
9,502,101
193.6
0.89
0.16
1992
 
6,549,361
0.671
9,762,489
198.9
2.74
0.16
1993
 
6,959,118
0.688
10,121,176
206.2
3.67
0.16
1994
 
7,195,050
0.702
10,250,381
208.8
1.28
0.16
1995
 
7,365,424
0.717
10,276,714
209.3
0.26
0.16
1996
 
7,613,703
0.732
10,400,665
211.9
1.21
0.15
1997
 
8,174,479
0.745
10,975,696
223.6
5.53
0.15
1998
 
8,528,389
0.751
11,360,582
231.4
3.51
0.15
1999
 
9,141,509
0.762
12,002,401
244.5
5.65
0.15
2000
 
9,763,725
0.781
12,503,169
254.7
4.17
0.15
2001
 
10,525,807
0.797
13,214,079
269.2
5.69
0.15
2002
 
10,985,461
0.807
13,612,378
277.3
3.01
0.16
2003
 
11,538,027
0.824
14,002,800
285.2
2.87
0.16
2004
 
12,066,265
0.844
14,289,242
291.1
2.05
0.16
2005
 
13,010,788
0.869
14,976,274
305.1
4.81
0.16
2006
 
15,044,507
0.893
16,843,003
343.1
12.46
0.18
2007
 
16,317,286
0.916
17,810,909
362.8
5.75
0.18
2008
 
18,180,219
0.943
19,274,020
392.6
8.21
0.20
2009
 
17,461,718
0.941
18,564,051
378.1
-3.68
0.20
2010
 
18,340,141
0.957
19,154,794
390.2
3.18
0.20
2011
 
19,486,698
0.982
19,849,952
404.3
3.63
0.21
2012
 
20,357,680
1.000
20,357,680
414.7
2.56
0.21
2013
 
21,115,479
1.014
20,833,395
424.4
2.34
0.21
2014
 
22,325,742
1.029
21,699,284
442.0
4.16
0.21
2015
 
22,266,472
1.031
21,593,615
439.9
-0.49
0.20
2016
 
20,754,236
1.041
19,927,638
405.9
-7.72
0.18
2017
 
21,105,390
1.061
19,901,170
405.4
-0.13
0.18
2018
 
22,610,150
1.083
20,873,862
425.2
4.89
0.18
2019
 
23,335,129
1.099
21,228,807
432.4
1.70
0.18
2020
 
22,839,906
1.112
20,534,867
418.3
-3.27
0.17
Source: Calculations by the Wyoming Regional Economic Analysis Project (WY-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2021
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, 1969-2020
 
1969
 
653,665,000
0.200
3,272,251,702
100.0
N
1970
 
693,352,000
0.209
3,315,887,135
101.3
1.33
1971
 
742,094,000
0.218
3,404,413,249
104.0
2.67
1972
 
819,646,000
0.225
3,636,083,755
111.1
6.81
1973
 
918,964,000
0.238
3,868,344,839
118.2
6.39
1974
 
993,909,000
0.262
3,789,351,481
115.8
-2.04
1975
 
1,059,492,000
0.284
3,728,636,284
113.9
-1.60
1976
 
1,173,271,000
0.300
3,914,295,723
119.6
4.98
1977
 
1,303,767,000
0.319
4,084,099,239
124.8
4.34
1978
 
1,476,080,000
0.341
4,322,975,546
132.1
5.85
1979
 
1,648,363,000
0.372
4,433,705,417
135.5
2.56
1980
 
1,784,597,000
0.412
4,333,439,367
132.4
-2.26
1981
 
1,961,173,000
0.449
4,370,691,538
133.6
0.86
1982
 
2,053,729,000
0.474
4,336,146,359
132.5
-0.79
1983
 
2,188,018,000
0.494
4,431,159,626
135.4
2.19
1984
 
2,432,402,000
0.512
4,746,798,587
145.1
7.12
1985
 
2,615,791,000
0.530
4,932,569,629
150.7
3.91
1986
 
2,786,901,000
0.542
5,143,402,111
157.2
4.27
1987
 
2,996,000,000
0.559
5,363,888,640
163.9
4.29
1988
 
3,259,979,000
0.580
5,616,973,362
171.7
4.72
1989
 
3,467,027,000
0.606
5,723,811,332
174.9
1.90
1990
 
3,679,460,000
0.632
5,819,076,086
177.8
1.66
1991
 
3,789,428,000
0.653
5,799,109,343
177.2
-0.34
1992
 
4,059,023,000
0.671
6,050,386,811
184.9
4.33
1993
 
4,237,437,000
0.688
6,162,827,598
188.3
1.86
1994
 
4,456,948,000
0.702
6,349,561,922
194.0
3.03
1995
 
4,674,849,000
0.717
6,522,650,723
199.3
2.73
1996
 
4,956,180,000
0.732
6,770,367,740
206.9
3.80
1997
 
5,288,047,000
0.745
7,100,146,352
217.0
4.87
1998
 
5,707,014,000
0.751
7,602,256,561
232.3
7.07
1999
 
6,098,042,000
0.762
8,006,462,371
244.7
5.32
2000
 
6,598,743,000
0.781
8,450,176,719
258.2
5.54
2001
 
6,865,291,000
0.797
8,618,674,048
263.4
1.99
2002
 
7,001,002,000
0.807
8,675,128,250
265.1
0.66
2003
 
7,243,377,000
0.824
8,790,719,435
268.6
1.33
2004
 
7,674,785,000
0.844
9,088,716,649
277.8
3.39
2005
 
8,039,238,000
0.869
9,253,692,619
282.8
1.82
2006
 
8,519,349,000
0.893
9,537,794,720
291.5
3.07
2007
 
8,866,152,000
0.916
9,677,726,112
295.8
1.47
2008
 
9,014,034,000
0.943
9,556,357,275
292.0
-1.25
2009
 
8,688,852,000
0.941
9,237,366,843
282.3
-3.34
2010
 
9,023,830,000
0.957
9,424,660,825
288.0
2.03
2011
 
9,444,365,000
0.982
9,620,418,662
294.0
2.08
2012
 
9,902,321,000
1.000
9,902,321,000
302.6
2.93
2013
 
10,232,098,000
1.014
10,095,406,200
308.5
1.95
2014
 
10,688,401,000
1.029
10,388,485,426
317.5
2.90
2015
 
11,115,543,000
1.031
10,779,649,133
329.4
3.77
2016
 
11,384,770,000
1.041
10,931,338,096
334.1
1.41
2017
 
11,926,173,000
1.061
11,245,695,939
343.7
2.88
2018
 
12,515,233,000
1.083
11,554,158,127
353.1
2.74
2019
 
13,024,685,000
1.099
11,849,024,763
362.1
2.55
2020
 
13,202,475,000
1.112
11,870,060,688
362.7
0.18
Source: Calculations by the Wyoming Regional Economic Analysis Project (WY-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2021
REAP_PI_CA1400_1200_PN
 
   
Copyright © 2022. 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, WY-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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