Nassau County vs. Florida | Total Personal Income Trends over 1969-2022

Introduction

Nassau County:

2022 TPI = $7,483,635K

2022 Percent of State = 0.52%

Florida:

2022 TPI = $1,441,598,918K

2022 Percent of U.S. = 6.61%

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 Nassau County and Florida 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.

Nassau County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)

Figure 1.

Figure 1 depicts Nassau 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 Nassau County over time.

When measured in current dollars, Nassau County's total personal income increased 9,962.44%, from $74M in 1970 to $7,484M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 1,613.97%, from $376M in 1970 to $6,449M in 2022.

Real Total Personal Income, 1969-2022 (Millions)

Figure 2.

Figure 2 traces Nassau County's and Florida'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, Nassau County's real total personal income rose from $338M in 1969 to $6,449M in 2022, for a net gain of $6,111M, or 1,808.16%. In comparison, Florida's real total personal income advanced from $132,420M in 1969 to $1,242,297M in 2022, for a net gain of $1,109,877M, or 838.15%.

Total Personal Income as a Percent of the Florida Total: 1969-2022

Figure 3.

Another interesting and insightful way of highlighting the total personal income growth of Nassau County is to compare its individual percentage contributions to Florida's statewide total personal income over time, as shown in Figure 3. A rising share means a region's total personal income grew faster, or declined less, than Florida's total personal income, while a declining share shows it grew more slowly.

In 1969, Nassau County's total personal income comprised 0.26% of Florida's total personal income, while in 2022 it totaled 0.52% thereby yielding a +0.26% share-shift.

Total Personal Income Share-Shift

2022 vs. 1969

	Share- Shift*		2022	vs.	1969
Nassau County	+0.26%	=	0.52%	-	0.26%

*Percent figures may not add due to rounding by a factor of ± 0.01%.

Nassau County Real Total Personal Income:
Annual Percent Change, 1970-2022

Figure 4.

Figure 4 highlights the short-run pattern of Nassau 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, Nassau County's real total personal income grew at an annual rate of 5.78% over 1970-2022. The county posted its highest growth in 1972 (14.32%) and posted its lowest growth in 2009 (-5.36%). In 2022, Nassau County's real total personal income grew by 1.82%

Nassau County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022

Figure 5.

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 5 again illustrates the annual percent change in Nassau County's real total personal income 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, Nassau County's annual real total personal income growth rate averaged 8.31%. It averaged 6.12% during the 1980s, 5.23% in the 1990s, 4.43% during the 2000s, 4.52% throughout the 2010s, 6.69% thus far this decade (2020-2022).

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

Nassau County:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Statewide Total
1969	63,819	0.189	337,971	100.0	N	0.26
1970	74,372	0.198	376,262	111.3	11.33	0.26
1971	84,740	0.206	411,259	121.7	9.30	0.27
1972	100,179	0.213	470,147	139.1	14.32	0.27
1973	117,979	0.225	525,402	155.5	11.75	0.28
1974	139,290	0.248	561,812	166.2	6.93	0.29
1975	160,606	0.269	597,937	176.9	6.43	0.31
1976	181,364	0.283	640,116	189.4	7.05	0.32
1977	199,429	0.302	660,886	195.5	3.24	0.31
1978	230,055	0.323	712,774	210.9	7.85	0.31
1979	262,735	0.351	747,617	221.2	4.89	0.31
1980	309,428	0.389	794,873	235.2	6.32	0.31
1981	355,929	0.424	839,158	248.3	5.57	0.31
1982	398,500	0.448	890,085	263.4	6.07	0.32
1983	426,249	0.467	913,208	270.2	2.60	0.31
1984	482,985	0.484	997,099	295.0	9.19	0.31
1985	550,780	0.501	1,098,747	325.1	10.19	0.33
1986	618,826	0.512	1,208,196	357.5	9.96	0.34
1987	646,913	0.528	1,225,168	362.5	1.40	0.33
1988	696,246	0.549	1,269,017	375.5	3.58	0.32
1989	772,222	0.573	1,348,600	399.0	6.27	0.32
1990	821,334	0.598	1,374,043	406.6	1.89	0.32
1991	866,997	0.618	1,403,498	415.3	2.14	0.32
1992	927,815	0.634	1,462,969	432.9	4.24	0.33
1993	1,009,526	0.650	1,553,117	459.5	6.16	0.34
1994	1,069,201	0.664	1,611,310	476.8	3.75	0.34
1995	1,165,587	0.678	1,720,322	509.0	6.77	0.34
1996	1,285,189	0.692	1,857,129	549.5	7.95	0.35
1997	1,388,084	0.704	1,971,514	583.3	6.16	0.36
1998	1,514,825	0.710	2,134,548	631.6	8.27	0.36
1999	1,613,376	0.720	2,240,769	663.0	4.98	0.37
2000	1,777,392	0.738	2,407,673	712.4	7.45	0.38
2001	1,938,946	0.753	2,574,893	761.9	6.95	0.39
2002	2,038,591	0.763	2,672,125	790.6	3.78	0.40
2003	2,153,854	0.779	2,765,109	818.2	3.48	0.40
2004	2,363,737	0.798	2,961,075	876.1	7.09	0.40
2005	2,577,176	0.821	3,138,037	928.5	5.98	0.40
2006	2,849,771	0.844	3,374,906	998.6	7.55	0.41
2007	3,122,606	0.866	3,605,489	1,066.8	6.83	0.43
2008	3,234,522	0.892	3,627,366	1,073.3	0.61	0.45
2009	3,052,474	0.889	3,432,793	1,015.7	-5.36	0.44
2010	3,236,369	0.905	3,575,545	1,057.9	4.16	0.44
2011	3,408,115	0.928	3,672,379	1,086.6	2.71	0.44
2012	3,368,840	0.945	3,563,628	1,054.4	-2.96	0.42
2013	3,504,138	0.958	3,658,490	1,082.5	2.66	0.44
2014	3,722,241	0.971	3,832,581	1,134.0	4.76	0.44
2015	4,040,275	0.973	4,152,432	1,228.6	8.35	0.45
2016	4,337,762	0.983	4,413,498	1,305.9	6.29	0.46
2017	4,718,646	1.000	4,718,646	1,396.2	6.91	0.47
2018	5,192,630	1.020	5,088,469	1,505.6	7.84	0.48
2019	5,506,038	1.035	5,319,175	1,573.9	4.53	0.48
2020	6,020,074	1.046	5,753,404	1,702.3	8.16	0.49
2021	6,903,654	1.090	6,333,569	1,874.0	10.08	0.50
2022	7,483,635	1.160	6,449,019	1,908.2	1.82	0.52

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the Florida Regional Economic Analysis Project (FL-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2023

REAP_PI_CA1400_300_PSN

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

Florida:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Nationwide Total
1969	25,004,933	0.189	132,420,341	100.0	N	3.16
1970	28,276,202	0.198	143,054,751	108.0	8.03	3.31
1971	31,756,352	0.206	154,119,641	116.4	7.73	3.43
1972	36,549,964	0.213	171,531,650	129.5	11.30	3.60
1973	42,578,343	0.225	189,616,313	143.2	10.54	3.76
1974	47,883,133	0.248	193,131,662	145.8	1.85	3.85
1975	52,167,930	0.269	194,221,631	146.7	0.56	3.83
1976	57,012,352	0.283	201,222,433	152.0	3.60	3.81
1977	63,844,262	0.302	211,572,979	159.8	5.14	3.87
1978	73,633,283	0.323	228,136,334	172.3	7.83	3.97
1979	84,679,438	0.351	240,956,771	182.0	5.62	4.08
1980	99,906,516	0.389	256,644,359	193.8	6.51	4.32
1981	115,554,486	0.424	272,437,784	205.7	6.15	4.46
1982	124,862,111	0.448	278,890,601	210.6	2.37	4.50
1983	138,140,276	0.467	295,955,686	223.5	6.12	4.65
1984	153,545,389	0.484	316,987,116	239.4	7.11	4.69
1985	168,155,204	0.501	335,451,652	253.3	5.83	4.79
1986	181,983,464	0.512	355,304,602	268.3	5.92	4.89
1987	195,918,080	0.528	371,042,915	280.2	4.43	4.98
1988	216,350,658	0.549	394,332,740	297.8	6.28	5.07
1989	240,834,946	0.573	420,591,582	317.6	6.66	5.23
1990	257,601,057	0.598	430,951,162	325.4	2.46	5.26
1991	268,849,056	0.618	435,213,935	328.7	0.99	5.30
1992	284,090,313	0.634	447,950,667	338.3	2.93	5.25
1993	301,152,003	0.650	463,310,774	349.9	3.43	5.34
1994	317,382,636	0.664	478,302,845	361.2	3.24	5.35
1995	341,123,138	0.678	503,473,061	380.2	5.26	5.43
1996	363,064,761	0.692	524,637,315	396.2	4.20	5.45
1997	385,679,172	0.704	547,785,266	413.7	4.41	5.46
1998	416,721,537	0.710	587,204,668	443.4	7.20	5.49
1999	435,930,396	0.720	605,450,474	457.2	3.11	5.46
2000	471,588,082	0.738	638,817,808	482.4	5.51	5.47
2001	497,335,404	0.753	660,454,442	498.8	3.39	5.53
2002	514,288,810	0.763	674,114,653	509.1	2.07	5.62
2003	540,366,333	0.779	693,720,098	523.9	2.91	5.70
2004	587,003,015	0.798	735,343,950	555.3	6.00	5.86
2005	637,602,753	0.821	776,361,919	586.3	5.58	6.05
2006	690,506,134	0.844	817,747,672	617.5	5.33	6.12
2007	719,734,158	0.866	831,034,625	627.6	1.62	6.04
2008	725,995,008	0.892	814,169,573	614.8	-2.03	5.84
2009	685,982,844	0.889	771,452,012	582.6	-5.25	5.69
2010	730,690,145	0.905	807,267,544	609.6	4.64	5.82
2011	769,798,435	0.928	829,488,422	626.4	2.75	5.79
2012	794,071,056	0.945	839,984,615	634.3	1.27	5.71
2013	794,604,073	0.958	829,605,113	626.5	-1.24	5.65
2014	848,535,336	0.971	873,688,838	659.8	5.31	5.74
2015	905,450,458	0.973	930,585,574	702.8	6.51	5.85
2016	938,985,637	0.983	955,379,957	721.5	2.66	5.91
2017	1,011,002,173	1.000	1,011,002,173	763.5	5.82	6.07
2018	1,078,010,586	1.020	1,056,386,357	797.8	4.49	6.15
2019	1,145,460,767	1.035	1,106,586,387	835.7	4.75	6.24
2020	1,221,121,559	1.046	1,167,029,731	881.3	5.46	6.23
2021	1,376,879,460	1.090	1,263,180,576	953.9	8.24	6.44
2022	1,441,598,918	1.160	1,242,297,181	938.1	-1.65	6.61

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the Florida Regional Economic Analysis Project (FL-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2023

REAP_PI_CA1400_300_PSN

Interactive Table Tip: 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


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change
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

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the Florida Regional Economic Analysis Project (FL-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2023

REAP_PI_CA1400_300_PN

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