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

Introduction

Putnam County:

2022 TPI = $2,947,402K

2022 Percent of State = 0.20%

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 Putnam 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.

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

Figure 1.

Figure 1 depicts Putnam 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 Putnam County over time.

When measured in current dollars, Putnam County's total personal income increased 2,674.73%, from $106M in 1970 to $2,947M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 372.63%, from $537M in 1970 to $2,540M in 2022.

Real Total Personal Income, 1969-2022 (Millions)

Figure 2.

Figure 2 tracks Putnam 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, Putnam County's real total personal income rose from $498M in 1969 to $2,540M in 2022, for a net gain of $2,042M, or 409.86%. In comparison, Florida's real total personal income advanced from $132,420M in 1969 to $1,242,297M in 2022, for a net advance of $1,109,877M, or 838.15%.

Real Total Personal Income Indices (1969=100): 1969-2022

Figure 3.

Figure 3 portrays Putnam County's real total personal income growth in a broader context by offering direct comparisons across time with Florida, 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.

Putnam County's overall real total personal income growth was 409.86% over 1969-2022 trailed Florida's increase of 838.15%, and outpaced the United States' increase of 348.76%.

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

Figure 4.

Another interesting and insightful way of comparing the total personal income growth of Putnam County is to trace its individual percentage contributions to Florida'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 Florida's total personal income, while a declining share shows it grew more slowly.

In 1969, Putnam County's total personal income totaled 0.38% of Florida's total personal income, while in 2022 it equated to 0.20% thereby yielding a -0.17% share-shift.

Total Personal Income Share-Shift

2022 vs. 1969

	Share- Shift*		2022	vs.	1969
Putnam County	-0.17%	=	0.20%	-	0.38%

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

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

Figure 5.

Figure 5 shows the short-run pattern of Putnam 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 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, Putnam County's real total personal income grew at an annual rate of 3.17% over 1970-2022. The county recorded its highest growth in 2020 (9.63%) and recorded its lowest growth in 2022 (-5.76%). In 2022, Putnam County's real total personal income declined by -5.76%

Putnam 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 shows the annual percent change in Putnam 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, Putnam County's annual real total personal income growth rate averaged 5.44%. It averaged 4.80% in the 1980s, 2.82% during the 1990s, 2.04% throughout the 2000s, 1.05% throughout the 2010s, 2.23% thus far this decade (2020-2022).

Real Total Personal Income Growth:
Average Annual Percent Change by Decade

Figure 7.

Figure 7 compares the decade average growth rates for Putnam County noted in the previous graph with the corresponding decade averages for Florida and the nation. As the chart reveals, Putnam County's average annual real total personal income growth recorded under Florida's average throughout the 1970s (5.44% vs. 6.22%), fell below Florida's average in the 1980s (4.80% vs. 5.74%), amounted to less than Florida's average in the 1990s (2.82% vs. 3.72%), recorded under Florida's average during the 2000s (2.04% vs. 2.51%), recorded under Florida's average in the 2010s (1.05% vs. 3.70%), and fell below Florida's average over the 3 year period of the current decade, 2020-2022 (2.23% vs. 4.02%).

Finally, relative to nationwide real total personal income growth trends, Putnam County registered above the nation over the 1970s (5.44% vs. 3.50%), outpaced the nation in the 1980s (4.80% vs. 3.16%), posted below the nation over the 1990s (2.82% vs. 3.27%), posted below the nation in the 2000s (2.04% vs. 2.06%), recorded underneath the nation over the 2010s (1.05% vs. 2.72%), and outpaced the nation over 2020-2022 (2.23% vs. 2.10%).

Real* Total Personal Income Growth:

Average Annual Percent Change

	1970-2022	1970-1979	1980-1989	1990-1999	2000-2009	2010-2019	2020-2022	2022
	%	%	%	%	%	%	%	%
Putnam	3.17	5.44	4.80	2.82	2.04	1.05	2.23	-5.76
Florida	4.36	6.22	5.74	3.72	2.51	3.70	4.02	-1.65
United States	2.89	3.50	3.16	3.27	2.06	2.72	2.10	-4.19

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

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

Putnam County:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Statewide Total
1969	94,067	0.189	498,157	100.0	N	0.38
1970	106,223	0.198	537,403	107.9	7.88	0.38
1971	119,814	0.206	581,480	116.7	8.20	0.38
1972	135,254	0.213	634,757	127.4	9.16	0.37
1973	154,950	0.225	690,047	138.5	8.71	0.36
1974	174,153	0.248	702,428	141.0	1.79	0.36
1975	199,866	0.269	744,103	149.4	5.93	0.38
1976	222,660	0.283	785,868	157.8	5.61	0.39
1977	240,250	0.302	796,163	159.8	1.31	0.38
1978	270,011	0.323	836,569	167.9	5.08	0.37
1979	296,104	0.351	842,569	169.1	0.72	0.35
1980	343,391	0.389	882,118	177.1	4.69	0.34
1981	409,116	0.424	964,555	193.6	9.35	0.35
1982	464,285	0.448	1,037,022	208.2	7.51	0.37
1983	498,947	0.467	1,068,958	214.6	3.08	0.36
1984	532,928	0.484	1,100,204	220.9	2.92	0.35
1985	581,894	0.501	1,160,816	233.0	5.51	0.35
1986	635,810	0.512	1,241,356	249.2	6.94	0.35
1987	665,733	0.528	1,260,810	253.1	1.57	0.34
1988	726,804	0.549	1,324,713	265.9	5.07	0.34
1989	768,848	0.573	1,342,708	269.5	1.36	0.32
1990	820,735	0.598	1,373,041	275.6	2.26	0.32
1991	864,252	0.618	1,399,055	280.8	1.89	0.32
1992	941,895	0.634	1,485,170	298.1	6.16	0.33
1993	1,002,922	0.650	1,542,957	309.7	3.89	0.33
1994	1,031,004	0.664	1,553,746	311.9	0.70	0.32
1995	1,115,246	0.678	1,646,022	330.4	5.94	0.33
1996	1,136,289	0.692	1,641,965	329.6	-0.25	0.31
1997	1,178,235	0.704	1,673,463	335.9	1.92	0.31
1998	1,227,623	0.710	1,729,850	347.3	3.37	0.29
1999	1,274,262	0.720	1,769,784	355.3	2.31	0.29
2000	1,344,588	0.738	1,821,392	365.6	2.92	0.29
2001	1,468,990	0.753	1,950,798	391.6	7.10	0.30
2002	1,532,041	0.763	2,008,154	403.1	2.94	0.30
2003	1,617,451	0.779	2,076,477	416.8	3.40	0.30
2004	1,668,102	0.798	2,089,646	419.5	0.63	0.28
2005	1,739,771	0.821	2,118,391	425.2	1.38	0.27
2006	1,816,577	0.844	2,151,323	431.9	1.55	0.26
2007	1,896,185	0.866	2,189,413	439.5	1.77	0.26
2008	1,952,658	0.892	2,189,815	439.6	0.02	0.27
2009	1,922,159	0.889	2,161,648	433.9	-1.29	0.28
2010	2,003,352	0.905	2,213,306	444.3	2.39	0.27
2011	2,048,899	0.928	2,207,770	443.2	-0.25	0.27
2012	1,991,861	0.945	2,107,031	423.0	-4.56	0.25
2013	1,954,679	0.958	2,040,779	409.7	-3.14	0.25
2014	2,003,327	0.971	2,062,712	414.1	1.07	0.24
2015	2,075,119	0.973	2,132,724	428.1	3.39	0.23
2016	2,177,675	0.983	2,215,696	444.8	3.89	0.23
2017	2,295,716	1.000	2,295,716	460.8	3.61	0.23
2018	2,393,762	1.020	2,345,745	470.9	2.18	0.22
2019	2,474,627	1.035	2,390,644	479.9	1.91	0.22
2020	2,742,226	1.046	2,620,754	526.1	9.63	0.22
2021	2,937,775	1.090	2,695,182	541.0	2.84	0.21
2022	2,947,402	1.160	2,539,922	509.9	-5.76	0.20

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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