Bennington County vs. Vermont
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Bennington County vs. Vermont
Bennington County:
2022 Earnings = $1,372,138K
2022 Percent of State = 5.18%
Vermont:
2022 Earnings = $26,500,469K
2022 Percent of U.S. = 0.17%
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.
Bennington County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Bennington County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Bennington 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 Bennington County over time.
When measured in current dollars, Bennington County's total industry earnings increased 1,597.92%, from $81M in 1970 to $1,372M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 189.21%, from $409M in 1970 to $1,182M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Bennington County's and Vermont'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, Bennington County's real total industry earnings rose from $416M in 1969 to $1,182M in 2022, for a net gain of $766M, or 184.10%. In comparison, Vermont's real total industry earnings increased from $6,501M in 1969 to $22,837M in 2022, for a net advance of $16,336M, or 251.28%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Bennington 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.
Bennington County's overall real total industry earnings growth was 184.10% over 1969-2022 trailed Vermont's increase of 251.28%, and fell below the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the Vermont Total: 1969-2022
Total Industry Earnings as a Percent of the Vermont Total: 1969-2022
Figure 4.
Another interesting and insightful way of comparing the total industry earnings growth of Bennington 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, Bennington County's total industry earnings totaled 6.40% of Vermont's total industry earnings, while in 2022 it totaled 5.18% thereby yielding a -1.22% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-1.22%
=
5.18%
-
6.40%
 
   
Bennington County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Bennington County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of Bennington 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, Bennington County's real total industry earnings grew at an annual rate of 2.07% over 1970-2022. The county recorded its highest growth in 1972 (11.33%) and posted its lowest growth in 1980 (-6.70%). In 2022, Bennington County's real total industry earnings grew by 1.15%
Bennington County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Bennington 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 Bennington 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, 2010s, and 2020-2022.
During the 1970s, Bennington County's annual real total industry earnings growth rate averaged 3.25%. It averaged 2.97% in the 1980s, 2.42% throughout the 1990s, 1.18% during the 2000s, 0.83% in the 2010s, 1.02% 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 Bennington County noted in the previous graph with the corresponding decade averages for Vermont and the nation. As the chart reveals, Bennington County's average annual real total industry earnings growth exceeded Vermont's average during the 1970s (3.25% vs. 2.97%), amounted to less than Vermont's average during the 1980s (2.97% vs. 3.81%), amounted to less than Vermont's average throughout the 1990s (2.42% vs. 2.67%), trailed Vermont's average in the 2000s (1.18% vs. 1.73%), fell below Vermont's average during the 2010s (0.83% vs. 1.33%), and lagged Vermont's average over the 3 year period of the current decade, 2020-2022 (1.02% vs. 1.35%).
Finally, relative to nationwide real total industry earnings growth trends, Bennington County exceeded the nation throughout the 1970s (3.25% vs. 3.13%), outperformed the nation during the 1980s (2.97% vs. 2.62%), fell under the nation during the 1990s (2.42% vs. 3.43%), fell under the nation throughout the 2000s (1.18% vs. 1.47%), posted below the nation over the 2010s (0.83% vs. 2.53%), and posted below the nation over 2020-2022 (1.02% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
2.07
3.25
2.97
2.42
1.18
0.83
1.02
1.15
 
2.44
2.97
3.81
2.67
1.73
1.33
1.35
0.82
 
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.

   
 
Bennington County:
Total Industry Earnings, 1969-2022
 
1969
 
78,593
0.189
416,210
100.0
N
6.40
1970
 
80,813
0.198
408,849
98.2
-1.77
6.12
1971
 
84,837
0.206
411,730
98.9
0.70
6.06
1972
 
97,674
0.213
458,391
110.1
11.33
6.36
1973
 
111,251
0.225
495,440
119.0
8.08
6.58
1974
 
115,066
0.248
464,107
111.5
-6.32
6.45
1975
 
119,250
0.269
443,969
106.7
-4.34
6.33
1976
 
138,110
0.283
487,453
117.1
9.79
6.51
1977
 
151,446
0.302
501,876
120.6
2.96
6.56
1978
 
178,156
0.323
551,977
132.6
9.98
6.58
1979
 
197,924
0.351
563,196
135.3
2.03
6.51
1980
 
204,548
0.389
525,452
126.2
-6.70
6.20
1981
 
222,877
0.424
525,467
126.3
0.00
6.15
1982
 
235,094
0.448
525,103
126.2
-0.07
6.15
1983
 
258,041
0.467
552,834
132.8
5.28
6.26
1984
 
283,744
0.484
585,776
140.7
5.96
6.23
1985
 
303,896
0.501
606,240
145.7
3.49
6.07
1986
 
325,605
0.512
635,711
152.7
4.86
5.97
1987
 
366,265
0.528
693,657
166.7
9.12
6.06
1988
 
401,670
0.549
732,106
175.9
5.54
6.06
1989
 
428,602
0.573
748,506
179.8
2.24
5.98
1990
 
433,304
0.598
724,892
174.2
-3.15
5.84
1991
 
436,872
0.618
707,210
169.9
-2.44
5.82
1992
 
472,608
0.634
745,203
179.0
5.37
5.86
1993
 
493,737
0.650
759,595
182.5
1.93
5.87
1994
 
524,165
0.664
789,929
189.8
3.99
5.97
1995
 
528,857
0.678
780,555
187.5
-1.19
5.83
1996
 
546,914
0.692
790,304
189.9
1.25
5.71
1997
 
586,178
0.704
832,556
200.0
5.35
5.83
1998
 
638,627
0.710
899,893
216.2
8.09
5.89
1999
 
680,495
0.720
945,119
227.1
5.03
5.82
2000
 
728,238
0.738
986,478
237.0
4.38
5.74
2001
 
792,151
0.753
1,051,965
252.7
6.64
5.86
2002
 
811,219
0.763
1,063,322
255.5
1.08
5.81
2003
 
827,121
0.779
1,061,855
255.1
-0.14
5.72
2004
 
862,524
0.798
1,080,492
259.6
1.76
5.63
2005
 
896,938
0.821
1,092,135
262.4
1.08
5.68
2006
 
939,573
0.844
1,112,711
267.3
1.88
5.77
2007
 
974,653
0.866
1,125,374
270.4
1.14
5.79
2008
 
982,735
0.892
1,102,092
264.8
-2.07
5.66
2009
 
941,427
0.889
1,058,723
254.4
-3.94
5.50
2010
 
968,446
0.905
1,069,941
257.1
1.06
5.44
2011
 
994,591
0.928
1,071,711
257.5
0.17
5.35
2012
 
1,003,151
0.945
1,061,154
255.0
-0.99
5.29
2013
 
1,021,505
0.958
1,066,501
256.2
0.50
5.27
2014
 
1,029,656
0.971
1,060,179
254.7
-0.59
5.24
2015
 
1,045,945
0.973
1,074,980
258.3
1.40
5.19
2016
 
1,066,385
0.983
1,085,004
260.7
0.93
5.20
2017
 
1,103,684
1.000
1,103,684
265.2
1.72
5.22
2018
 
1,145,375
1.020
1,122,399
269.7
1.70
5.24
2019
 
1,189,316
1.035
1,148,953
276.1
2.37
5.24
2020
 
1,163,152
1.046
1,111,628
267.1
-3.25
5.06
2021
 
1,274,192
1.090
1,168,973
280.9
5.16
5.16
2022
 
1,372,138
1.160
1,182,439
284.1
1.15
5.18
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 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.

   
 
Vermont:
Total Industry Earnings, 1969-2022
 
1969
 
1,227,584
0.189
6,501,001
100.0
N
0.19
1970
 
1,320,775
0.198
6,682,055
102.8
2.79
0.19
1971
 
1,399,716
0.206
6,793,089
104.5
1.66
0.19
1972
 
1,535,665
0.213
7,206,988
110.9
6.09
0.19
1973
 
1,691,241
0.225
7,531,690
115.9
4.51
0.18
1974
 
1,784,368
0.248
7,197,064
110.7
-4.44
0.18
1975
 
1,884,015
0.269
7,014,203
107.9
-2.54
0.18
1976
 
2,121,519
0.283
7,487,802
115.2
6.75
0.18
1977
 
2,310,209
0.302
7,655,783
117.8
2.24
0.18
1978
 
2,708,931
0.323
8,393,020
129.1
9.63
0.18
1979
 
3,038,824
0.351
8,647,025
133.0
3.03
0.18
1980
 
3,299,425
0.389
8,475,712
130.4
-1.98
0.18
1981
 
3,626,776
0.424
8,550,692
131.5
0.88
0.18
1982
 
3,822,058
0.448
8,536,906
131.3
-0.16
0.19
1983
 
4,121,902
0.467
8,830,881
135.8
3.44
0.19
1984
 
4,553,227
0.484
9,399,919
144.6
6.44
0.19
1985
 
5,005,704
0.501
9,985,844
153.6
6.23
0.19
1986
 
5,451,937
0.512
10,644,364
163.7
6.59
0.20
1987
 
6,047,853
0.528
11,453,833
176.2
7.60
0.20
1988
 
6,625,639
0.549
12,076,258
185.8
5.43
0.20
1989
 
7,167,531
0.573
12,517,300
192.5
3.65
0.21
1990
 
7,421,189
0.598
12,415,205
191.0
-0.82
0.20
1991
 
7,502,931
0.618
12,145,775
186.8
-2.17
0.20
1992
 
8,063,944
0.634
12,715,143
195.6
4.69
0.20
1993
 
8,411,612
0.650
12,940,942
199.1
1.78
0.20
1994
 
8,779,568
0.664
13,231,009
203.5
2.24
0.20
1995
 
9,074,376
0.678
13,393,122
206.0
1.23
0.19
1996
 
9,582,795
0.692
13,847,369
213.0
3.39
0.19
1997
 
10,059,895
0.704
14,288,203
219.8
3.18
0.19
1998
 
10,834,640
0.710
15,267,152
234.8
6.85
0.19
1999
 
11,689,580
0.720
16,235,302
249.7
6.34
0.19
2000
 
12,684,504
0.738
17,182,553
264.3
5.83
0.19
2001
 
13,506,631
0.753
17,936,617
275.9
4.39
0.20
2002
 
13,966,633
0.763
18,307,052
281.6
2.07
0.20
2003
 
14,463,890
0.779
18,568,683
285.6
1.43
0.20
2004
 
15,311,602
0.798
19,180,981
295.0
3.30
0.20
2005
 
15,785,712
0.821
19,221,099
295.7
0.21
0.20
2006
 
16,275,061
0.844
19,274,113
296.5
0.28
0.19
2007
 
16,831,322
0.866
19,434,136
298.9
0.83
0.19
2008
 
17,352,245
0.892
19,459,734
299.3
0.13
0.19
2009
 
17,104,575
0.889
19,235,698
295.9
-1.15
0.20
2010
 
17,797,100
0.905
19,662,262
302.4
2.22
0.20
2011
 
18,586,425
0.928
20,027,612
308.1
1.86
0.20
2012
 
18,975,648
0.945
20,072,829
308.8
0.23
0.19
2013
 
19,395,900
0.958
20,250,258
311.5
0.88
0.19
2014
 
19,667,799
0.971
20,250,820
311.5
0.00
0.19
2015
 
20,159,407
0.973
20,719,028
318.7
2.31
0.18
2016
 
20,489,536
0.983
20,847,275
320.7
0.62
0.18
2017
 
21,136,196
1.000
21,136,196
325.1
1.39
0.18
2018
 
21,843,878
1.020
21,405,703
329.3
1.28
0.18
2019
 
22,713,633
1.035
21,942,783
337.5
2.51
0.17
2020
 
22,972,483
1.046
21,954,875
337.7
0.06
0.17
2021
 
24,690,366
1.090
22,651,504
348.4
3.17
0.17
2022
 
26,500,469
1.160
22,836,767
351.3
0.82
0.17
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 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 Vermont Regional Economic Analysis Project (VT-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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