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

Introduction

Putnam County:

2022 TPI = $2,043,210K

2022 Percent of State = 0.30%

Ohio:

2022 TPI = $679,232,967K

2022 Percent of U.S. = 3.11%

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 Ohio 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 1,804.26%, from $107M in 1970 to $2,043M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 224.36%, from $543M in 1970 to $1,761M in 2022.

Real Total Personal Income, 1969-2022 (Millions)

Figure 2.

Figure 2 tracks Putnam County's and Ohio'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 $551M in 1969 to $1,761M in 2022, for a net gain of $1,210M, or 219.49%. In comparison, Ohio's real total personal income increased from $221,369M in 1969 to $585,329M in 2022, for a net gain of $363,960M, or 164.41%.

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 Ohio, 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 219.49% over 1969-2022 outpaced Ohio's increase of 164.41%, and fell below the United States' increase of 348.76%.

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

Figure 4.

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

In 1969, Putnam County's total personal income comprised 0.25% of Ohio's total personal income, while in 2022 it totaled 0.30% thereby yielding a +0.05% share-shift.

Total Personal Income Share-Shift

2022 vs. 1969

	Share- Shift*		2022	vs.	1969
Putnam County	+0.05%	=	0.30%	-	0.25%

*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 displays 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 2.29% over 1970-2022. The county recorded its highest growth in 1984 (13.61%) and posted its lowest growth in 2009 (-8.98%). In 2022, Putnam County's real total personal income declined by -5.17%

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 displayed 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 3.42%. It averaged 2.48% in the 1980s, 2.25% in the 1990s, 1.88% throughout the 2000s, 1.34% during the 2010s, 2.54% 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 Ohio and the nation. As the chart reveals, Putnam County's average annual real total personal income growth led Ohio's average during the 1970s (3.42% vs. 2.37%), recorded above Ohio's average in the 1980s (2.48% vs. 1.84%), recorded under Ohio's average in the 1990s (2.25% vs. 2.48%), led Ohio's average during the 2000s (1.88% vs. 0.79%), posted below Ohio's average in the 2010s (1.34% vs. 2.01%), and registered above Ohio's average over the 3 year period of the current decade, 2020-2022 (2.54% vs. 1.43%).

Finally, relative to nationwide real total personal income growth trends, Putnam County fell under the nation in the 1970s (3.42% vs. 3.50%), trailed the nation throughout the 1980s (2.48% vs. 3.16%), fell below the nation in the 1990s (2.25% vs. 3.27%), recorded underneath the nation over the 2000s (1.88% vs. 2.06%), posted below the nation over the 2010s (1.34% vs. 2.72%), and surpassed the nation over 2020-2022 (2.54% 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	2.29	3.42	2.48	2.25	1.88	1.34	2.54	-5.17
Ohio	1.87	2.37	1.84	2.48	0.79	2.01	1.43	-4.90
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	104,066	0.189	551,109	100.0	N	0.25
1970	107,297	0.198	542,836	98.5	-1.50	0.24
1971	121,794	0.206	591,090	107.3	8.89	0.26
1972	128,380	0.213	602,497	109.3	1.93	0.25
1973	144,925	0.225	645,402	117.1	7.12	0.26
1974	160,906	0.248	648,998	117.8	0.56	0.26
1975	172,926	0.269	643,805	116.8	-0.80	0.26
1976	196,199	0.283	692,475	125.7	7.56	0.27
1977	212,946	0.302	705,680	128.0	1.91	0.26
1978	241,167	0.323	747,202	135.6	5.88	0.27
1979	269,682	0.351	767,385	139.2	2.70	0.27
1980	302,106	0.389	776,064	140.8	1.13	0.28
1981	310,975	0.424	733,172	133.0	-5.53	0.27
1982	319,351	0.448	713,299	129.4	-2.71	0.26
1983	345,433	0.467	740,066	134.3	3.75	0.27
1984	407,265	0.484	840,779	152.6	13.61	0.29
1985	426,530	0.501	850,882	154.4	1.20	0.28
1986	461,641	0.512	901,308	163.5	5.93	0.29
1987	472,771	0.528	895,366	162.5	-0.66	0.29
1988	496,742	0.549	905,390	164.3	1.12	0.28
1989	554,302	0.573	968,027	175.7	6.92	0.29
1990	581,937	0.598	973,546	176.7	0.57	0.29
1991	583,356	0.618	944,339	171.4	-3.00	0.28
1992	623,359	0.634	982,906	178.4	4.08	0.28
1993	644,911	0.650	992,171	180.0	0.94	0.28
1994	697,572	0.664	1,051,257	190.8	5.96	0.29
1995	725,052	0.678	1,070,124	194.2	1.79	0.28
1996	765,054	0.692	1,105,521	200.6	3.31	0.29
1997	831,479	0.704	1,180,961	214.3	6.82	0.29
1998	837,824	0.710	1,180,583	214.2	-0.03	0.28
1999	867,812	0.720	1,205,278	218.7	2.09	0.28
2000	913,678	0.738	1,237,677	224.6	2.69	0.28
2001	955,803	0.753	1,269,293	230.3	2.55	0.29
2002	974,342	0.763	1,277,139	231.7	0.62	0.29
2003	1,035,381	0.779	1,329,218	241.2	4.08	0.30
2004	1,136,969	0.798	1,424,291	258.4	7.15	0.31
2005	1,194,120	0.821	1,453,992	263.8	2.09	0.32
2006	1,274,700	0.844	1,509,593	273.9	3.82	0.33
2007	1,286,942	0.866	1,485,956	269.6	-1.57	0.32
2008	1,409,273	0.892	1,580,434	286.8	6.36	0.33
2009	1,279,117	0.889	1,438,487	261.0	-8.98	0.31
2010	1,321,295	0.905	1,459,769	264.9	1.48	0.31
2011	1,394,746	0.928	1,502,894	272.7	2.95	0.31
2012	1,387,559	0.945	1,467,788	266.3	-2.34	0.30
2013	1,411,929	0.958	1,474,122	267.5	0.43	0.30
2014	1,434,663	0.971	1,477,191	268.0	0.21	0.29
2015	1,462,414	0.973	1,503,010	272.7	1.75	0.29
2016	1,504,223	0.983	1,530,486	277.7	1.83	0.29
2017	1,579,406	1.000	1,579,406	286.6	3.20	0.29
2018	1,657,700	1.020	1,624,448	294.8	2.85	0.29
2019	1,699,075	1.035	1,641,412	297.8	1.04	0.29
2020	1,872,421	1.046	1,789,479	324.7	9.02	0.30
2021	2,023,822	1.090	1,856,700	336.9	3.76	0.30
2022	2,043,210	1.160	1,760,735	319.5	-5.17	0.30

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 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_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.

Ohio:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Nationwide Total
1969	41,801,043	0.189	221,368,654	100.0	N	5.28
1970	44,141,934	0.198	223,322,544	100.9	0.88	5.16
1971	46,980,368	0.206	228,004,698	103.0	2.10	5.08
1972	50,967,906	0.213	239,196,105	108.1	4.91	5.01
1973	56,552,390	0.225	251,847,651	113.8	5.29	4.99
1974	61,925,206	0.248	249,768,911	112.8	-0.83	4.97
1975	66,162,182	0.269	246,322,346	111.3	-1.38	4.86
1976	72,597,505	0.283	256,229,503	115.7	4.02	4.85
1977	80,397,208	0.302	266,427,651	120.4	3.98	4.87
1978	88,854,711	0.323	275,296,539	124.4	3.33	4.79
1979	98,139,943	0.351	279,258,865	126.2	1.44	4.73
1980	107,224,402	0.389	275,442,874	124.4	-1.37	4.63
1981	116,584,437	0.424	274,866,054	124.2	-0.21	4.50
1982	122,010,409	0.448	272,521,072	123.1	-0.85	4.39
1983	129,165,178	0.467	276,727,179	125.0	1.54	4.35
1984	142,495,944	0.484	294,176,065	132.9	6.31	4.35
1985	151,344,813	0.501	301,916,719	136.4	2.63	4.31
1986	158,418,410	0.512	309,296,179	139.7	2.44	4.26
1987	165,483,900	0.528	313,404,606	141.6	1.33	4.21
1988	178,136,781	0.549	324,682,003	146.7	3.60	4.18
1989	191,537,126	0.573	334,498,395	151.1	3.02	4.16
1990	202,968,115	0.598	339,553,517	153.4	1.51	4.14
1991	207,868,447	0.618	336,498,279	152.0	-0.90	4.10
1992	221,074,852	0.634	348,588,540	157.5	3.59	4.09
1993	230,183,648	0.650	354,128,689	160.0	1.59	4.08
1994	243,075,206	0.664	366,319,860	165.5	3.44	4.10
1995	254,778,303	0.678	376,034,335	169.9	2.65	4.06
1996	266,670,184	0.692	385,344,832	174.1	2.48	4.00
1997	282,198,968	0.704	400,810,953	181.1	4.01	3.99
1998	298,491,358	0.710	420,605,856	190.0	4.94	3.94
1999	307,407,038	0.720	426,948,290	192.9	1.51	3.85
2000	323,812,505	0.738	438,639,572	198.1	2.74	3.76
2001	333,209,250	0.753	442,497,211	199.9	0.88	3.71
2002	338,462,533	0.763	443,646,738	200.4	0.26	3.70
2003	348,428,738	0.779	447,311,395	202.1	0.83	3.68
2004	361,752,998	0.798	453,171,230	204.7	1.31	3.61
2005	371,633,835	0.821	452,511,153	204.4	-0.15	3.53
2006	390,090,034	0.844	461,973,039	208.7	2.09	3.45
2007	406,786,493	0.866	469,692,396	212.2	1.67	3.41
2008	422,085,747	0.892	473,349,498	213.8	0.78	3.40
2009	410,350,426	0.889	461,477,521	208.5	-2.51	3.40
2010	422,204,427	0.905	466,452,070	210.7	1.08	3.36
2011	449,923,823	0.928	484,810,809	219.0	3.94	3.38
2012	466,162,071	0.945	493,115,780	222.8	1.71	3.35
2013	473,218,777	0.958	494,063,308	223.2	0.19	3.36
2014	492,475,624	0.971	507,074,293	229.1	2.63	3.33
2015	511,339,811	0.973	525,534,498	237.4	3.64	3.31
2016	521,622,549	0.983	530,729,874	239.7	0.99	3.28
2017	541,289,443	1.000	541,289,443	244.5	1.99	3.25
2018	562,522,960	1.020	551,239,096	249.0	1.84	3.21
2019	582,400,407	1.035	562,635,038	254.2	2.07	3.17
2020	623,835,973	1.046	596,202,010	269.3	5.97	3.18
2021	670,872,723	1.090	615,473,916	278.0	3.23	3.14
2022	679,232,967	1.160	585,328,686	264.4	-4.90	3.11

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 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_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 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_300_PN

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