Lake County vs. Ohio
Comparative Trends Analysis:
Per Capita Personal Income Growth and Change, 1969-2022
Introduction
Lake County vs. Ohio
Lake County:
2022 PCI = $59,749
2022 Percent of State = 103.41%
Ohio:
2022 PCI = $57,777
Per Capita Income (PCI) is one of the most widely used indicators for gauging the economic performance and changing fortunes of local economies. It is used as a yardstick to assess the economic well being of a region's residents and the quality of consumer markets. It serves as a barometer for calibrating the economic performance of a region over time and to judge differences in relative economic prosperity between regions. Shifting trends in local per capita income growth have important social and political ramifications and significant implications in formulating local economic development strategies and initiatives.
Data Definition:
This measure of income is calculated as the total personal income of the residents of an area divided by the population of the area. Per capita personal income is often used as an indicator of consumers' purchasing power and of the economic well-being of the residents of an area.
Personal income is measured as a flow throughout the year, while the measurement of population is at one point in mid-year. Therefore, per capita income is distorted if a significant change in population occurs during the year.
For smaller counties in particular, per capita income in any given year may be exceptionally high or low for the short run because of unusual local conditions, such as a bumper crop, a catastrophe, or a major construction project as the building of a dam or nuclear power plant.
Farm incomes are notorious for being especially volatile year-to-year, owing to changing weather, commodity market conditions, and alterations in government programs. Therefore, the per capita income of farm-dependent counties may exhibit sharp fluctuations over time.
The presence of large institutional populations--such as residents attending a local college or the residents of a local prison or state mental institution--can significantly lower the per capita income estimates of an area. Such results may not reflect the relative economic well being of the non-institutional population and may mislead if care is not given to their interpretation.
Lake County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Lake County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Lake County's annual per capita 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 Lake County over time.
When measured in current dollars, Lake County's per capita personal income increased 1,296.52%, from $4,278 in 1970 to $59,749 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 137.87%, from $21,645 in 1970 to $51,489 in 2022.
Real Per Capita Personal Income, 1969-2022
Real Per Capita Personal Income, 1969-2022
Figure 2.
Figure 2 tracks Lake County's and Ohio's annual real per capita personal income for the period 1969-2022 to illustrate real per capita personal income patterns over time. During this 54-year period, Lake County's real per capita personal income rose from $22,004 in 1969 to $51,489 in 2022, for a net gain of $29,484, or 133.99%. In comparison, Ohio's real per capita personal income advanced from $20,957 in 1969 to $49,790 in 2022, for a net advance of $28,833, or 137.58%.
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Lake County's real per capita personal income growth in a broader context by offering direct comparisons across time with Ohio, the United States. The growth indices shown here express each region's real per capita personal income in 1969 as a base figure of 100, and the real per capita personal incomes in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real per capita personal income growth between regions that may differ vastly in size.
Lake County's overall real per capita personal income growth was 133.99% over 1969-2022 trailed Ohio's increase of 137.58%, and fell below the United States' increase of 171.04%.
Per Capita Personal Income as a Percent of the U.S. Average: 1969-2022
Per Capita Personal Income as a Percent of the U.S. Average: 1969-2022
Figure 4.
Figure 4 depicts the trends for per capita personal income relative to the national average by tracing Lake County and Ohio per capita personal income as a percent of the national average over 1969-2022.
In 1969, Lake County's per capita personal income amounted to 105.71% of the national average; in 2022, it approximated 91.26%. Similarly, in 1969, Ohio's per capita personal income totaled 100.68% of the national average; in 2022, it consisted of 88.25%.
Lake County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Lake County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of Lake County's real per capita 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, Lake County's real per capita personal income grew at an annual rate of 1.65% over 1970-2022. The county recorded its highest growth in 1984 (6.52%) and posted its lowest growth in 2022 (-4.62%). In 2022, Lake County's real per capita personal income declined by -4.62%
Lake County Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Lake County Real Per Capita 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 depicts the annual percent change in Lake County's real per capita 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, Lake County's annual real per capita personal income growth rate averaged 2.53%. It averaged 1.85% during the 1980s, 1.92% in the 1990s, 0.39% during the 2000s, 1.74% during the 2010s, 1.00% thus far this decade (2020-2022).
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Lake County noted in the previous graph with the corresponding decade averages for Ohio and the nation. As the chart reveals, Lake County's average annual real per capita personal income growth outpaced Ohio's average in the 1970s (2.53% vs. 2.15%), recorded above Ohio's average throughout the 1980s (1.85% vs. 1.81%), amounted to less than Ohio's average in the 1990s (1.92% vs. 2.02%), recorded under Ohio's average in the 2000s (0.39% vs. 0.62%), recorded under Ohio's average throughout the 2010s (1.74% vs. 1.78%), and trailed Ohio's average over the 3 year period of the current decade, 2020-2022 (1.00% vs. 1.53%).
Finally, relative to nationwide real per capita personal income growth trends, Lake County surpassed the nation throughout the 1970s (2.53% vs. 2.37%), posted below the nation throughout the 1980s (1.85% vs. 2.19%), trailed the nation over the 1990s (1.92% vs. 2.01%), fell under the nation in the 2000s (0.39% vs. 1.10%), fell below the nation throughout the 2010s (1.74% vs. 1.97%), and recorded underneath the nation over 2020-2022 (1.00% vs. 1.78%).
   
 
Real* Per Capita Personal Income Growth:
Average Annual Percent Change
 
 
 
1.65
2.53
1.85
1.92
0.39
1.74
1.00
-4.62
 
1.67
2.15
1.81
2.02
0.62
1.78
1.53
-4.83
 
1.92
2.37
2.19
2.01
1.10
1.97
1.78
-4.55
 
   

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

   
 
Lake County:
Per Capita Personal Income, 1969-2022
 
1969
 
4,155
0.189
22,004
100.0
N
105.00
105.71
1970
 
4,278
0.198
21,645
98.4
-1.63
103.41
101.92
1971
 
4,482
0.206
21,754
98.9
0.50
102.42
100.26
1972
 
4,858
0.213
22,797
103.6
4.80
102.43
100.02
1973
 
5,370
0.225
23,913
108.7
4.89
102.24
100.12
1974
 
6,006
0.248
24,224
110.1
1.30
104.41
102.92
1975
 
6,252
0.269
23,277
105.8
-3.91
101.78
98.87
1976
 
6,969
0.283
24,598
111.8
5.68
103.23
101.37
1977
 
7,813
0.302
25,892
117.7
5.26
104.68
103.96
1978
 
8,789
0.323
27,231
123.8
5.17
106.78
105.18
1979
 
9,881
0.351
28,117
127.8
3.25
108.72
107.03
1980
 
10,881
0.389
27,951
127.0
-0.59
109.60
106.85
1981
 
11,854
0.424
27,949
127.0
-0.01
109.70
104.99
1982
 
12,471
0.448
27,855
126.6
-0.33
109.95
104.01
1983
 
13,137
0.467
28,145
127.9
1.04
109.21
103.44
1984
 
14,523
0.484
29,981
136.3
6.52
109.44
104.56
1985
 
15,349
0.501
30,619
139.2
2.13
108.87
104.09
1986
 
15,680
0.512
30,614
139.1
-0.02
106.21
101.28
1987
 
16,386
0.528
31,034
141.0
1.37
106.55
100.98
1988
 
17,685
0.549
32,234
146.5
3.87
107.21
101.40
1989
 
19,286
0.573
33,681
153.1
4.49
109.04
103.37
1990
 
20,536
0.598
34,355
156.1
2.00
109.92
104.67
1991
 
20,581
0.618
33,316
151.4
-3.02
108.37
102.65
1992
 
21,720
0.634
34,248
155.6
2.80
108.36
103.05
1993
 
22,395
0.650
34,454
156.6
0.60
108.00
103.14
1994
 
23,602
0.664
35,569
161.6
3.24
108.29
104.66
1995
 
24,458
0.678
36,099
164.1
1.49
107.54
103.74
1996
 
25,477
0.692
36,815
167.3
1.98
107.41
103.04
1997
 
27,093
0.704
38,481
174.9
4.53
108.27
104.50
1998
 
28,489
0.710
40,145
182.4
4.32
107.96
103.63
1999
 
29,257
0.720
40,634
184.7
1.22
107.88
102.32
2000
 
30,644
0.738
41,510
188.6
2.16
107.54
100.31
2001
 
30,849
0.753
40,967
186.2
-1.31
105.43
97.79
2002
 
30,729
0.763
40,279
183.1
-1.68
103.57
96.63
2003
 
32,177
0.779
41,309
187.7
2.56
105.60
98.53
2004
 
33,138
0.798
41,512
188.7
0.49
104.91
96.94
2005
 
34,383
0.821
41,866
190.3
0.85
106.06
96.39
2006
 
36,032
0.844
42,672
193.9
1.93
106.05
95.22
2007
 
37,762
0.866
43,602
198.1
2.18
106.76
95.39
2008
 
38,790
0.892
43,501
197.7
-0.23
105.83
94.95
2009
 
37,513
0.889
42,187
191.7
-3.02
105.39
95.44
2010
 
38,429
0.905
42,456
192.9
0.64
105.05
94.75
2011
 
40,779
0.928
43,941
199.7
3.50
104.76
95.61
2012
 
41,962
0.945
44,388
201.7
1.02
104.18
94.86
2013
 
42,899
0.958
44,789
203.5
0.90
105.26
96.62
2014
 
44,680
0.971
46,005
209.1
2.72
105.68
96.53
2015
 
45,750
0.973
47,020
213.7
2.21
104.45
95.19
2016
 
46,670
0.983
47,485
215.8
0.99
104.70
95.30
2017
 
48,206
1.000
48,206
219.1
1.52
104.53
94.52
2018
 
50,354
1.020
49,344
224.2
2.36
105.29
94.46
2019
 
51,863
1.035
50,102
227.7
1.54
104.98
93.37
2020
 
55,040
1.046
52,602
239.1
4.99
104.09
93.05
2021
 
58,839
1.090
53,980
245.3
2.62
103.18
91.32
2022
 
59,749
1.160
51,489
234.0
-4.62
103.41
91.26
Source: Calculations by the Ohio Regional Economic Analysis Project (OH-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_PSN
 
   

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

   
 
Ohio:
Per Capita Personal Income, 1969-2022
 
1969
 
3,957
0.189
20,957
100.0
N
100.68
1970
 
4,137
0.198
20,932
99.9
-0.12
98.56
1971
 
4,376
0.206
21,240
101.3
1.47
97.89
1972
 
4,743
0.213
22,257
106.2
4.79
97.65
1973
 
5,252
0.225
23,390
111.6
5.09
97.94
1974
 
5,752
0.248
23,201
110.7
-0.81
98.57
1975
 
6,143
0.269
22,870
109.1
-1.42
97.14
1976
 
6,752
0.283
23,829
113.7
4.19
98.20
1977
 
7,464
0.302
24,735
118.0
3.80
99.31
1978
 
8,231
0.323
25,501
121.7
3.10
98.50
1979
 
9,088
0.351
25,861
123.4
1.41
98.44
1980
 
9,928
0.389
25,502
121.7
-1.39
97.49
1981
 
10,807
0.424
25,478
121.6
-0.10
95.71
1982
 
11,342
0.448
25,334
120.9
-0.57
94.60
1983
 
12,029
0.467
25,772
123.0
1.73
94.71
1984
 
13,271
0.484
27,396
130.7
6.30
95.55
1985
 
14,098
0.501
28,125
134.2
2.66
95.61
1986
 
14,764
0.512
28,825
137.5
2.49
95.36
1987
 
15,379
0.528
29,127
139.0
1.05
94.77
1988
 
16,496
0.549
30,067
143.5
3.23
94.58
1989
 
17,687
0.573
30,889
147.4
2.73
94.80
1990
 
18,682
0.598
31,254
149.1
1.18
95.23
1991
 
18,991
0.618
30,742
146.7
-1.64
94.72
1992
 
20,044
0.634
31,605
150.8
2.81
95.10
1993
 
20,735
0.650
31,900
152.2
0.93
95.50
1994
 
21,796
0.664
32,847
156.7
2.97
96.65
1995
 
22,742
0.678
33,566
160.2
2.19
96.46
1996
 
23,719
0.692
34,275
163.5
2.11
95.93
1997
 
25,024
0.704
35,541
169.6
3.70
96.52
1998
 
26,388
0.710
37,184
177.4
4.62
95.98
1999
 
27,119
0.720
37,665
179.7
1.29
94.85
2000
 
28,496
0.738
38,601
184.2
2.48
93.27
2001
 
29,261
0.753
38,858
185.4
0.67
92.75
2002
 
29,669
0.763
38,889
185.6
0.08
93.30
2003
 
30,471
0.779
39,118
186.7
0.59
93.30
2004
 
31,588
0.798
39,570
188.8
1.16
92.41
2005
 
32,419
0.821
39,475
188.4
-0.24
90.89
2006
 
33,976
0.844
40,237
192.0
1.93
89.78
2007
 
35,371
0.866
40,841
194.9
1.50
89.35
2008
 
36,654
0.892
41,106
196.1
0.65
89.72
2009
 
35,593
0.889
40,028
191.0
-2.62
90.55
2010
 
36,580
0.905
40,414
192.8
0.96
90.19
2011
 
38,928
0.928
41,946
200.2
3.79
91.27
2012
 
40,280
0.945
42,609
203.3
1.58
91.05
2013
 
40,754
0.958
42,549
203.0
-0.14
91.79
2014
 
42,278
0.971
43,531
207.7
2.31
91.34
2015
 
43,801
0.973
45,017
214.8
3.41
91.14
2016
 
44,576
0.983
45,354
216.4
0.75
91.02
2017
 
46,116
1.000
46,116
220.0
1.68
90.42
2018
 
47,822
1.020
46,863
223.6
1.62
89.71
2019
 
49,404
1.035
47,727
227.7
1.84
88.94
2020
 
52,879
1.046
50,536
241.1
5.89
89.39
2021
 
57,026
1.090
52,317
249.6
3.52
88.51
2022
 
57,777
1.160
49,790
237.6
-4.83
88.25
Source: Calculations by the Ohio Regional Economic Analysis Project (OH-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_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:
Per Capita Personal Income, 1969-2022
 
1969
 
3,931
0.189
20,816
100.0
N
1970
 
4,198
0.198
21,238
102.0
2.03
1971
 
4,471
0.206
21,697
104.2
2.16
1972
 
4,857
0.213
22,793
109.5
5.05
1973
 
5,363
0.225
23,883
114.7
4.78
1974
 
5,836
0.248
23,537
113.1
-1.45
1975
 
6,324
0.269
23,544
113.1
0.03
1976
 
6,875
0.283
24,265
116.6
3.07
1977
 
7,516
0.302
24,906
119.6
2.64
1978
 
8,356
0.323
25,889
124.4
3.95
1979
 
9,232
0.351
26,271
126.2
1.47
1980
 
10,184
0.389
26,160
125.7
-0.42
1981
 
11,291
0.424
26,621
127.9
1.76
1982
 
11,990
0.448
26,781
128.7
0.60
1983
 
12,701
0.467
27,210
130.7
1.61
1984
 
13,889
0.484
28,674
137.7
5.38
1985
 
14,746
0.501
29,417
141.3
2.59
1986
 
15,482
0.512
30,227
145.2
2.75
1987
 
16,228
0.528
30,733
147.6
1.67
1988
 
17,442
0.549
31,790
152.7
3.44
1989
 
18,658
0.573
32,584
156.5
2.50
1990
 
19,619
0.598
32,821
157.7
0.73
1991
 
20,050
0.618
32,457
155.9
-1.11
1992
 
21,077
0.634
33,234
159.7
2.39
1993
 
21,713
0.650
33,405
160.5
0.51
1994
 
22,552
0.664
33,986
163.3
1.74
1995
 
23,577
0.678
34,798
167.2
2.39
1996
 
24,725
0.692
35,729
171.6
2.67
1997
 
25,925
0.704
36,822
176.9
3.06
1998
 
27,493
0.710
38,740
186.1
5.21
1999
 
28,592
0.720
39,711
190.8
2.51
2000
 
30,551
0.738
41,384
198.8
4.21
2001
 
31,548
0.753
41,895
201.3
1.23
2002
 
31,801
0.763
41,684
200.2
-0.50
2003
 
32,659
0.779
41,928
201.4
0.59
2004
 
34,183
0.798
42,821
205.7
2.13
2005
 
35,669
0.821
43,432
208.6
1.43
2006
 
37,843
0.844
44,816
215.3
3.19
2007
 
39,588
0.866
45,710
219.6
1.99
2008
 
40,854
0.892
45,816
220.1
0.23
2009
 
39,307
0.889
44,204
212.4
-3.52
2010
 
40,557
0.905
44,808
215.3
1.36
2011
 
42,649
0.928
45,956
220.8
2.56
2012
 
44,237
0.945
46,795
224.8
1.83
2013
 
44,401
0.958
46,357
222.7
-0.94
2014
 
46,287
0.971
47,659
229.0
2.81
2015
 
48,060
0.973
49,394
237.3
3.64
2016
 
48,971
0.983
49,826
239.4
0.88
2017
 
51,004
1.000
51,004
245.0
2.36
2018
 
53,309
1.020
52,240
251.0
2.42
2019
 
55,547
1.035
53,662
257.8
2.72
2020
 
59,153
1.046
56,533
271.6
5.35
2021
 
64,430
1.090
59,110
284.0
4.56
2022
 
65,470
1.160
56,419
271.0
-4.55
Source: Calculations by the Ohio Regional Economic Analysis Project (OH-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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