Introduction
Washington County:
2018 Earnings = $2,537,369K
2018 Percent of State = 11.5%
Vermont:
2018 Earnings = $22,057,433K
2018 Percent of State = 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.
Page 2 of 13
Washington County Total Industry Earnings, 1970-2018
Current vs. Constant Dollars (Millions)
Washington County Total Industry Earnings, 1970-2018
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Washington County's annual total industry earnings over 1970-2018 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 Washington County over time.
When measured in current dollars, Washington County's total industry earnings increased 1,625.8%, from $147M in 1970 to $2,537M in 2018. When measured in constant 2012 dollars to adjust for inflation, it advanced 234.3%, from $702M in 1970 to $2,346M in 2018.
Page 3 of 13
Real Total Industry Earnings, 1969-2018 (Millions)
Real Total Industry Earnings, 1969-2018 (Millions)
Figure 2.
Figure 2 traces Washington County's and Vermont's annual real total industry earnings for the period 1969-2018 to illustrate real total industry earnings patterns over time. During this 50-year period, Washington County's real total industry earnings rose from $685M in 1969 to $2,346M in 2018, for a net gain of $1,662M, or 242.6%. In comparison, Vermont's real total industry earnings advanced from $6,133M in 1969 to $20,397M in 2018, for a net gain of $14,263M, or 232.6%.
Page 4 of 13
Real Total Industry Earnings Indices (1969=100): 1969-2018
Real Total Industry Earnings Indices (1969=100): 1969-2018
Figure 3.
Figure 3 shows Washington County's real total industry earnings growth in a broader context by offering direct comparisons across time with Vermont, 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.
Washington County's overall real total industry earnings growth was 242.6% over 1969-2018 outpaced Vermont's increase of 232.6%, and fell below the United States' increase of 254.2%.
Page 5 of 13
Total Industry Earnings as a Percent of the Vermont Total: 1969-2018
Total Industry Earnings as a Percent of the Vermont Total: 1969-2018
Figure 4.
Another interesting and insightful way of contrasting the total industry earnings growth of Washington County is to compare its individual percentage contributions to Vermont'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 Vermont's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Washington County's total industry earnings comprised 11.2% of Vermont's total industry earnings, while in 2018 it equated to 11.5% thereby yielding a +0.3% share-shift.
   
 
Total Industry Earnings Share-Shift
2018 vs. 1969
 
Share-
Shift*
 
2018
vs.
1969
+0.34%
=
11.50%
-
11.16%
 
   
Page 6 of 13
Washington County Real Total Industry Earnings:
Annual Percent Change, 1970-2018
Washington County Real Total Industry Earnings:
Annual Percent Change, 1970-2018
Figure 5.
Figure 5 displays the short-run pattern of Washington County's real total industry earnings growth by tracking the year-to-year percent change over 1970-2018. The average annual percent change for the entire 49-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, Washington County's real total industry earnings grew at an annual rate of 2.59% over 1970-2018. The county posted its highest growth in 1987 (8.93%) and posted its lowest growth in 1975 (-4.96%). In 2018, Washington County's real total industry earnings declined by -0.06%
Page 7 of 13
Washington County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2018
Washington County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2018
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 illustrates the annual percent change in Washington 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 2010-2018.
During the 1970s, Washington County's annual real total industry earnings growth rate averaged 2.21%. It averaged 4.00% in the 1980s, 2.78% throughout the 1990s, 2.51% during the 2000s, and 1.33% thus far this decade (2010 to 2018).
Page 8 of 13
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 Washington County noted in the previous graph with the corresponding decade averages for Vermont and the nation. As the chart reveals, Washington County's average annual real total industry earnings growth lagged Vermont's average throughout the 1970s (2.21% vs. 2.97%), registered above Vermont's average in the 1980s (4.00% vs. 3.82%), registered above Vermont's average during the 1990s (2.78% vs. 2.67%), topped Vermont's average during the 2000s (2.51% vs. 1.77%), and outperformed Vermont's average over the 9 year period of the last decade, 2010-2018 (1.33% vs. 1.27%).
Finally, relative to nationwide real total industry earnings growth trends, Washington County fell under the nation in the 1970s (2.21% vs. 3.13%), led the nation during the 1980s (4.00% vs. 2.62%), fell below the nation in the 1990s (2.78% vs. 3.43%), exceeded the nation during the 2000s (2.51% vs. 1.49%), and fell under the nation over 2010-2018 (1.33% vs. 2.54%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
2.59
2.21
4.00
2.78
2.51
1.33
-0.06
 
2.52
2.97
3.82
2.67
1.77
1.27
0.93
 
2.64
3.13
2.62
3.43
1.49
2.54
2.80
 
   
Page 9 of 13

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

   
 
Washington County:
Total Industry Earnings, 1969-2018
 
1969
 
137,055
0.200
684,761
100.0
N
11.16
1970
 
147,025
0.210
701,756
102.5
2.48
11.13
1971
 
158,135
0.218
724,028
105.7
3.17
11.30
1972
 
175,135
0.226
775,414
113.2
7.10
11.40
1973
 
193,233
0.238
811,835
118.6
4.70
11.43
1974
 
205,901
0.263
783,489
114.4
-3.49
11.54
1975
 
212,006
0.285
744,665
108.7
-4.96
11.25
1976
 
234,717
0.300
781,556
114.1
4.95
11.06
1977
 
254,196
0.320
794,710
116.1
1.68
11.00
1978
 
289,625
0.342
846,584
123.6
6.53
10.69
1979
 
315,284
0.373
846,377
123.6
-0.02
10.38
1980
 
342,800
0.413
830,789
121.3
-1.84
10.39
1981
 
369,889
0.450
822,743
120.2
-0.97
10.20
1982
 
402,481
0.475
848,114
123.9
3.08
10.53
1983
 
439,455
0.495
888,254
129.7
4.73
10.66
1984
 
480,392
0.513
935,652
136.6
5.34
10.55
1985
 
516,993
0.531
972,998
142.1
3.99
10.33
1986
 
562,024
0.543
1,035,226
151.2
6.40
10.31
1987
 
631,102
0.560
1,127,693
164.7
8.93
10.44
1988
 
691,195
0.582
1,188,621
173.6
5.40
10.43
1989
 
756,760
0.607
1,246,927
182.1
4.91
10.56
1990
 
793,322
0.634
1,252,185
182.9
0.42
10.69
1991
 
796,137
0.655
1,215,978
177.6
-2.89
10.61
1992
 
849,936
0.672
1,264,447
184.7
3.99
10.54
1993
 
891,022
0.689
1,293,361
188.9
2.29
10.59
1994
 
946,314
0.703
1,345,534
196.5
4.03
10.78
1995
 
978,239
0.718
1,362,241
198.9
1.24
10.78
1996
 
1,002,024
0.733
1,366,160
199.5
0.29
10.46
1997
 
1,068,983
0.746
1,432,511
209.2
4.86
10.63
1998
 
1,128,554
0.752
1,500,417
219.1
4.74
10.42
1999
 
1,246,090
0.763
1,632,333
238.4
8.79
10.66
2000
 
1,373,826
0.782
1,756,025
256.4
7.58
10.83
2001
 
1,484,887
0.797
1,862,207
271.9
6.05
10.99
2002
 
1,530,464
0.808
1,894,397
276.7
1.73
10.95
2003
 
1,606,163
0.824
1,950,221
284.8
2.95
11.10
2004
 
1,721,591
0.844
2,039,534
297.8
4.58
11.24
2005
 
1,779,739
0.868
2,050,107
299.4
0.52
11.27
2006
 
1,801,601
0.892
2,020,321
295.0
-1.45
11.07
2007
 
1,852,862
0.914
2,026,359
295.9
0.30
11.01
2008
 
1,953,048
0.942
2,073,740
302.8
2.34
11.25
2009
 
1,962,174
0.941
2,085,334
304.5
0.56
11.45
2010
 
2,041,463
0.957
2,133,079
311.5
2.29
11.46
2011
 
2,098,705
0.981
2,138,677
312.3
0.26
11.28
2012
 
2,134,928
1.000
2,134,928
311.8
-0.18
11.17
2013
 
2,220,570
1.013
2,191,078
320.0
2.63
11.37
2014
 
2,241,155
1.028
2,179,476
318.3
-0.53
11.30
2015
 
2,330,445
1.030
2,261,580
330.3
3.77
11.46
2016
 
2,391,190
1.041
2,297,211
335.5
1.58
11.48
2017
 
2,486,807
1.059
2,347,617
342.8
2.19
11.62
2018
 
2,537,369
1.081
2,346,309
342.6
-0.06
11.50
Source: Calculations by the Vermont Regional Economic Analysis Project (VT-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2019
REAP_PI_CA1400_1200_PSN
 
   
Page 10 of 13

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

   
 
Vermont:
Total Industry Earnings, 1969-2018
 
1969
 
1,227,584
0.200
6,133,320
100.0
N
0.19
1970
 
1,320,775
0.210
6,304,114
102.8
2.78
0.19
1971
 
1,399,716
0.218
6,408,663
104.5
1.66
0.19
1972
 
1,535,665
0.226
6,799,190
110.9
6.09
0.19
1973
 
1,691,241
0.238
7,105,458
115.9
4.50
0.18
1974
 
1,784,368
0.263
6,789,833
110.7
-4.44
0.18
1975
 
1,884,015
0.285
6,617,545
107.9
-2.54
0.18
1976
 
2,121,519
0.300
7,064,195
115.2
6.75
0.18
1977
 
2,310,209
0.320
7,222,563
117.8
2.24
0.18
1978
 
2,708,931
0.342
7,918,304
129.1
9.63
0.18
1979
 
3,038,824
0.373
8,157,698
133.0
3.02
0.18
1980
 
3,299,425
0.413
7,996,280
130.4
-1.98
0.18
1981
 
3,626,776
0.450
8,067,031
131.5
0.88
0.18
1982
 
3,822,058
0.475
8,053,898
131.3
-0.16
0.19
1983
 
4,121,902
0.495
8,331,451
135.8
3.45
0.19
1984
 
4,553,227
0.513
8,868,253
144.6
6.44
0.19
1985
 
5,005,704
0.531
9,420,906
153.6
6.23
0.19
1986
 
5,451,937
0.543
10,042,249
163.7
6.60
0.20
1987
 
6,047,853
0.560
10,806,685
176.2
7.61
0.20
1988
 
6,625,639
0.582
11,393,852
185.8
5.43
0.20
1989
 
7,167,531
0.607
11,810,069
192.6
3.65
0.21
1990
 
7,421,189
0.634
11,713,660
191.0
-0.82
0.20
1991
 
7,502,931
0.655
11,459,580
186.8
-2.17
0.20
1992
 
8,063,944
0.672
11,996,703
195.6
4.69
0.20
1993
 
8,411,612
0.689
12,209,853
199.1
1.78
0.20
1994
 
8,779,568
0.703
12,483,390
203.5
2.24
0.20
1995
 
9,074,376
0.718
12,636,471
206.0
1.23
0.19
1996
 
9,582,795
0.733
13,065,191
213.0
3.39
0.19
1997
 
10,059,895
0.746
13,480,958
219.8
3.18
0.19
1998
 
10,834,640
0.752
14,404,701
234.9
6.85
0.19
1999
 
11,689,580
0.763
15,312,924
249.7
6.31
0.19
2000
 
12,684,504
0.782
16,213,337
264.3
5.88
0.19
2001
 
13,506,631
0.797
16,938,763
276.2
4.47
0.20
2002
 
13,971,295
0.808
17,293,561
282.0
2.09
0.20
2003
 
14,469,288
0.824
17,568,770
286.4
1.59
0.20
2004
 
15,317,204
0.844
18,145,981
295.9
3.29
0.20
2005
 
15,791,446
0.868
18,190,395
296.6
0.24
0.20
2006
 
16,277,784
0.892
18,253,957
297.6
0.35
0.19
2007
 
16,831,673
0.914
18,407,744
300.1
0.84
0.19
2008
 
17,361,758
0.942
18,434,655
300.6
0.15
0.19
2009
 
17,133,318
0.941
18,208,725
296.9
-1.23
0.20
2010
 
17,817,857
0.957
18,617,478
303.5
2.24
0.20
2011
 
18,605,396
0.981
18,959,754
309.1
1.84
0.20
2012
 
19,110,941
1.000
19,110,941
311.6
0.80
0.19
2013
 
19,530,518
1.013
19,271,129
314.2
0.84
0.19
2014
 
19,836,343
1.028
19,290,424
314.5
0.10
0.19
2015
 
20,339,754
1.030
19,738,710
321.8
2.32
0.18
2016
 
20,831,378
1.041
20,012,660
326.3
1.39
0.18
2017
 
21,407,506
1.059
20,209,297
329.5
0.98
0.18
2018
 
22,057,433
1.081
20,396,543
332.6
0.93
0.18
Source: Calculations by the Vermont Regional Economic Analysis Project (VT-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2019
REAP_PI_CA1400_1200_PSN
 
   
Page 11 of 13

Tip: 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, 1969-2018
 
1969
 
653,665,000
0.200
3,265,875,593
100.0
N
1970
 
693,352,000
0.210
3,309,398,119
101.3
1.33
1971
 
742,094,000
0.218
3,397,710,728
104.0
2.67
1972
 
819,646,000
0.226
3,629,000,266
111.1
6.81
1973
 
918,964,000
0.238
3,860,868,835
118.2
6.39
1974
 
993,909,000
0.263
3,781,997,717
115.8
-2.04
1975
 
1,059,492,000
0.285
3,721,433,088
113.9
-1.60
1976
 
1,173,271,000
0.300
3,906,736,148
119.6
4.98
1977
 
1,303,767,000
0.320
4,076,055,149
124.8
4.33
1978
 
1,476,080,000
0.342
4,314,635,644
132.1
5.85
1979
 
1,648,363,000
0.373
4,425,016,778
135.5
2.56
1980
 
1,784,597,000
0.413
4,325,037,565
132.4
-2.26
1981
 
1,961,173,000
0.450
4,362,233,640
133.6
0.86
1982
 
2,053,729,000
0.475
4,327,648,769
132.5
-0.79
1983
 
2,188,018,000
0.495
4,422,561,345
135.4
2.19
1984
 
2,432,402,000
0.513
4,737,553,318
145.1
7.12
1985
 
2,615,791,000
0.531
4,923,007,867
150.7
3.91
1986
 
2,786,901,000
0.543
5,133,359,735
157.2
4.27
1987
 
2,996,000,000
0.560
5,353,441,498
163.9
4.29
1988
 
3,259,979,000
0.582
5,606,058,365
171.7
4.72
1989
 
3,467,027,000
0.607
5,712,682,485
174.9
1.90
1990
 
3,679,460,000
0.634
5,807,686,844
177.8
1.66
1991
 
3,789,428,000
0.655
5,787,772,059
177.2
-0.34
1992
 
4,059,023,000
0.672
6,038,595,317
184.9
4.33
1993
 
4,237,437,000
0.689
6,150,840,446
188.3
1.86
1994
 
4,456,948,000
0.703
6,337,193,232
194.0
3.03
1995
 
4,674,849,000
0.718
6,509,934,411
199.3
2.73
1996
 
4,956,180,000
0.733
6,757,260,110
206.9
3.80
1997
 
5,288,047,000
0.746
7,086,350,053
217.0
4.87
1998
 
5,707,014,000
0.752
7,587,500,000
232.3
7.07
1999
 
6,098,042,000
0.763
7,988,212,948
244.6
5.28
2000
 
6,598,743,000
0.782
8,434,515,243
258.3
5.59
2001
 
6,865,291,000
0.797
8,609,810,881
263.6
2.08
2002
 
7,001,130,000
0.808
8,665,944,621
265.3
0.65
2003
 
7,243,665,000
0.824
8,795,338,644
269.3
1.49
2004
 
7,675,133,000
0.844
9,092,574,428
278.4
3.38
2005
 
8,039,648,000
0.868
9,260,986,960
283.6
1.85
2006
 
8,519,777,000
0.892
9,554,104,335
292.5
3.17
2007
 
8,866,784,000
0.914
9,697,044,992
296.9
1.50
2008
 
9,013,458,000
0.942
9,570,458,696
293.0
-1.31
2009
 
8,688,446,000
0.941
9,233,793,866
282.7
-3.52
2010
 
9,023,198,000
0.957
9,428,136,461
288.7
2.10
2011
 
9,443,528,000
0.981
9,623,389,143
294.7
2.07
2012
 
9,901,882,000
1.000
9,901,882,000
303.2
2.89
2013
 
10,231,478,000
1.013
10,095,591,341
309.1
1.96
2014
 
10,687,445,000
1.028
10,393,314,208
318.2
2.95
2015
 
11,111,139,000
1.030
10,782,802,659
330.2
3.75
2016
 
11,374,304,000
1.041
10,927,269,408
334.6
1.34
2017
 
11,921,152,000
1.059
11,253,907,806
344.6
2.99
2018
 
12,510,655,000
1.081
11,568,622,102
354.2
2.80
Source: Calculations by the Vermont Regional Economic Analysis Project (VT-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2019
REAP_PI_CA1400_1200_PN
 
   
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