| Atlantic City-Hammonton MSA vs. New Jersey Comparative Trends Analysis: Total Industry Earnings Growth and Change, 1969-2022 Introduction Atlantic City-Hammonton MSA: 2022 Earnings = $10,910,198K 2022 Percent of State = 0.08% New Jersey: 2022 Earnings = $460,796,732K 2022 Percent of U.S. = 3.03% 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. Figure 1. Figure 1 depicts the Atlantic City-Hammonton MSA'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 the Atlantic City-Hammonton MSA over time. When measured in current dollars, the Atlantic City-Hammonton MSA's total industry earnings increased 1,841.20%, from $562M in 1970 to $10,910M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 230.65%, from $2,843M in 1970 to $9,402M in 2022. Figure 2. Figure 2 tracks the Atlantic City-Hammonton MSA's and New Jersey'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, the Atlantic City-Hammonton MSA's real total industry earnings rose from $2,749M in 1969 to $9,402M in 2022, for a net gain of $6,653M, or 241.97%. In comparison, New Jersey's real total industry earnings advanced from $128,022M in 1969 to $397,091M in 2022, for a net gain of $269,069M, or 210.17%. Figure 3. Figure 3 shows the short-run pattern of the Atlantic City-Hammonton MSA'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 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, the Atlantic City-Hammonton MSA's real total industry earnings grew at an annual rate of 2.48% over 1970-2022. The Atlantic City-Hammonton MSA posted its highest growth in 1979 (15.28%) and recorded its lowest growth in 1991 (-11.33%). In 2022, the Atlantic City-Hammonton MSA's real total industry earnings declined by -1.50% Figure 4. Over the past five decades some msas have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 4 again illustrates the annual percent change in the Atlantic City-Hammonton MSA's real total industry earnings 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, the Atlantic City-Hammonton MSA's annual real total industry earnings growth rate averaged 4.62%. It averaged 6.45% in the 1980s, 1.99% in the 1990s, -0.27% in the 2000s, 0.41% during the 2010s, -0.21% thus far this decade (2020-2022). Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data. | | | | Atlantic City-Hammonton MSA: Total Industry Earnings, 1969-2022 | | | | | | | | | 1969 | | 519,154 | 0.189 | 2,749,319 | 100.0 | N | 0.09 | 1970 | | 562,033 | 0.198 | 2,843,433 | 103.4 | 3.42 | 0.09 | 1971 | | 600,271 | 0.206 | 2,913,230 | 106.0 | 2.45 | 0.09 | 1972 | | 656,608 | 0.213 | 3,081,509 | 112.1 | 5.78 | 0.09 | 1973 | | 736,926 | 0.225 | 3,281,790 | 119.4 | 6.50 | 0.09 | 1974 | | 772,735 | 0.248 | 3,116,747 | 113.4 | -5.03 | 0.09 | 1975 | | 812,060 | 0.269 | 3,023,306 | 110.0 | -3.00 | 0.09 | 1976 | | 909,951 | 0.283 | 3,211,630 | 116.8 | 6.23 | 0.09 | 1977 | | 1,020,259 | 0.302 | 3,381,028 | 123.0 | 5.27 | 0.09 | 1978 | | 1,192,328 | 0.323 | 3,694,163 | 134.4 | 9.26 | 0.09 | 1979 | | 1,496,602 | 0.351 | 4,258,606 | 154.9 | 15.28 | 0.10 | 1980 | | 1,804,180 | 0.389 | 4,634,659 | 168.6 | 8.83 | 0.12 | 1981 | | 2,170,457 | 0.424 | 5,117,192 | 186.1 | 10.41 | 0.13 | 1982 | | 2,318,854 | 0.448 | 5,179,366 | 188.4 | 1.22 | 0.13 | 1983 | | 2,619,850 | 0.467 | 5,612,842 | 204.2 | 8.37 | 0.14 | 1984 | | 3,038,053 | 0.484 | 6,271,915 | 228.1 | 11.74 | 0.14 | 1985 | | 3,315,880 | 0.501 | 6,614,826 | 240.6 | 5.47 | 0.14 | 1986 | | 3,630,338 | 0.512 | 7,087,874 | 257.8 | 7.15 | 0.15 | 1987 | | 3,943,776 | 0.528 | 7,468,990 | 271.7 | 5.38 | 0.15 | 1988 | | 4,384,291 | 0.549 | 7,991,053 | 290.7 | 6.99 | 0.15 | 1989 | | 4,529,784 | 0.573 | 7,910,766 | 287.7 | -1.00 | 0.15 | 1990 | | 4,718,238 | 0.598 | 7,893,330 | 287.1 | -0.22 | 0.14 | 1991 | | 4,323,471 | 0.618 | 6,998,852 | 254.6 | -11.33 | 0.13 | 1992 | | 4,868,032 | 0.634 | 7,675,863 | 279.2 | 9.67 | 0.13 | 1993 | | 5,152,955 | 0.650 | 7,927,623 | 288.3 | 3.28 | 0.14 | 1994 | | 5,288,911 | 0.664 | 7,970,509 | 289.9 | 0.54 | 0.13 | 1995 | | 5,646,570 | 0.678 | 8,333,929 | 303.1 | 4.56 | 0.14 | 1996 | | 6,007,975 | 0.692 | 8,681,668 | 315.8 | 4.17 | 0.14 | 1997 | | 6,322,593 | 0.704 | 8,980,063 | 326.6 | 3.44 | 0.13 | 1998 | | 6,615,043 | 0.710 | 9,321,294 | 339.0 | 3.80 | 0.13 | 1999 | | 6,842,896 | 0.720 | 9,503,890 | 345.7 | 1.96 | 0.12 | 2000 | | 7,179,639 | 0.738 | 9,725,609 | 353.7 | 2.33 | 0.12 | 2001 | | 6,506,045 | 0.753 | 8,639,937 | 314.3 | -11.16 | 0.10 | 2002 | | 6,736,401 | 0.763 | 8,829,876 | 321.2 | 2.20 | 0.11 | 2003 | | 6,981,106 | 0.779 | 8,962,315 | 326.0 | 1.50 | 0.11 | 2004 | | 7,469,594 | 0.798 | 9,357,228 | 340.3 | 4.41 | 0.11 | 2005 | | 7,951,950 | 0.821 | 9,682,504 | 352.2 | 3.48 | 0.11 | 2006 | | 8,652,270 | 0.844 | 10,246,649 | 372.7 | 5.83 | 0.11 | 2007 | | 8,843,567 | 0.866 | 10,211,146 | 371.4 | -0.35 | 0.11 | 2008 | | 8,715,885 | 0.892 | 9,774,459 | 355.5 | -4.28 | 0.11 | 2009 | | 8,115,321 | 0.889 | 9,126,439 | 332.0 | -6.63 | 0.10 | 2010 | | 8,164,976 | 0.905 | 9,020,677 | 328.1 | -1.16 | 0.10 | 2011 | | 8,285,812 | 0.928 | 8,928,292 | 324.7 | -1.02 | 0.10 | 2012 | | 8,499,153 | 0.945 | 8,990,578 | 327.0 | 0.70 | 0.10 | 2013 | | 8,696,126 | 0.958 | 9,079,176 | 330.2 | 0.99 | 0.09 | 2014 | | 8,780,316 | 0.971 | 9,040,595 | 328.8 | -0.42 | 0.09 | 2015 | | 8,623,395 | 0.973 | 8,862,779 | 322.4 | -1.97 | 0.09 | 2016 | | 8,637,544 | 0.983 | 8,788,352 | 319.7 | -0.84 | 0.08 | 2017 | | 8,744,582 | 1.000 | 8,744,582 | 318.1 | -0.50 | 0.08 | 2018 | | 9,220,062 | 1.020 | 9,035,113 | 328.6 | 3.32 | 0.08 | 2019 | | 9,819,503 | 1.035 | 9,486,251 | 345.0 | 4.99 | 0.08 | 2020 | | 9,483,176 | 1.046 | 9,063,101 | 329.6 | -4.46 | 0.08 | 2021 | | 10,404,086 | 1.090 | 9,544,945 | 347.2 | 5.32 | 0.08 | 2022 | | 10,910,198 | 1.160 | 9,401,858 | 342.0 | -1.50 | 0.08 |
Source: Calculations by the New Jersey Regional Economic Analysis Project (NJ-REAP) with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis November 2023 REAP_PI_CA1400_1200_PSN | | | | |
Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data. | | | | New Jersey: Total Industry Earnings, 1969-2022 | | | | | | | | | 1969 | | 24,174,456 | 0.189 | 128,022,327 | 100.0 | N | 3.70 | 1970 | | 26,102,139 | 0.198 | 132,055,747 | 103.2 | 3.15 | 3.76 | 1971 | | 27,901,715 | 0.206 | 135,412,351 | 105.8 | 2.54 | 3.76 | 1972 | | 30,447,671 | 0.213 | 142,893,143 | 111.6 | 5.52 | 3.71 | 1973 | | 33,538,166 | 0.225 | 149,357,230 | 116.7 | 4.52 | 3.65 | 1974 | | 36,008,650 | 0.248 | 145,237,164 | 113.4 | -2.76 | 3.62 | 1975 | | 37,745,885 | 0.269 | 140,528,239 | 109.8 | -3.24 | 3.56 | 1976 | | 41,379,924 | 0.283 | 146,048,509 | 114.1 | 3.93 | 3.53 | 1977 | | 45,540,642 | 0.302 | 150,916,762 | 117.9 | 3.33 | 3.49 | 1978 | | 51,062,212 | 0.323 | 158,204,895 | 123.6 | 4.83 | 3.46 | 1979 | | 56,574,936 | 0.351 | 160,984,936 | 125.7 | 1.76 | 3.43 | 1980 | | 61,889,637 | 0.389 | 158,984,887 | 124.2 | -1.24 | 3.47 | 1981 | | 67,762,531 | 0.424 | 159,760,771 | 124.8 | 0.49 | 3.46 | 1982 | | 72,341,216 | 0.448 | 161,580,523 | 126.2 | 1.14 | 3.52 | 1983 | | 78,978,762 | 0.467 | 169,206,363 | 132.2 | 4.72 | 3.61 | 1984 | | 88,003,116 | 0.484 | 181,678,226 | 141.9 | 7.37 | 3.62 | 1985 | | 95,483,970 | 0.501 | 190,480,310 | 148.8 | 4.84 | 3.65 | 1986 | | 103,321,187 | 0.512 | 201,724,335 | 157.6 | 5.90 | 3.71 | 1987 | | 113,281,477 | 0.528 | 214,540,125 | 167.6 | 6.35 | 3.78 | 1988 | | 125,530,226 | 0.549 | 228,798,371 | 178.7 | 6.65 | 3.85 | 1989 | | 132,290,164 | 0.573 | 231,030,132 | 180.5 | 0.98 | 3.82 | 1990 | | 138,126,371 | 0.598 | 231,077,158 | 180.5 | 0.02 | 3.75 | 1991 | | 139,677,857 | 0.618 | 226,111,077 | 176.6 | -2.15 | 3.69 | 1992 | | 149,410,971 | 0.634 | 235,589,674 | 184.0 | 4.19 | 3.68 | 1993 | | 155,419,250 | 0.650 | 239,106,538 | 186.8 | 1.49 | 3.67 | 1994 | | 161,986,059 | 0.664 | 244,116,672 | 190.7 | 2.10 | 3.63 | 1995 | | 169,746,173 | 0.678 | 250,533,065 | 195.7 | 2.63 | 3.63 | 1996 | | 178,344,003 | 0.692 | 257,711,375 | 201.3 | 2.87 | 3.60 | 1997 | | 188,811,959 | 0.704 | 268,172,141 | 209.5 | 4.06 | 3.57 | 1998 | | 201,798,426 | 0.710 | 284,355,300 | 222.1 | 6.03 | 3.54 | 1999 | | 213,357,244 | 0.720 | 296,325,390 | 231.5 | 4.21 | 3.50 | 2000 | | 234,153,627 | 0.738 | 317,186,783 | 247.8 | 7.04 | 3.55 | 2001 | | 242,111,326 | 0.753 | 321,520,446 | 251.1 | 1.37 | 3.53 | 2002 | | 249,745,024 | 0.763 | 327,358,435 | 255.7 | 1.82 | 3.57 | 2003 | | 257,189,167 | 0.779 | 330,178,405 | 257.9 | 0.86 | 3.55 | 2004 | | 268,252,234 | 0.798 | 336,041,983 | 262.5 | 1.78 | 3.50 | 2005 | | 277,258,204 | 0.821 | 337,596,897 | 263.7 | 0.46 | 3.45 | 2006 | | 290,105,609 | 0.844 | 343,564,198 | 268.4 | 1.77 | 3.41 | 2007 | | 300,456,537 | 0.866 | 346,919,460 | 271.0 | 0.98 | 3.39 | 2008 | | 305,474,324 | 0.892 | 342,575,220 | 267.6 | -1.25 | 3.39 | 2009 | | 300,798,411 | 0.889 | 338,276,010 | 264.2 | -1.25 | 3.46 | 2010 | | 306,832,261 | 0.905 | 338,988,732 | 264.8 | 0.21 | 3.40 | 2011 | | 313,036,717 | 0.928 | 337,309,509 | 263.5 | -0.50 | 3.31 | 2012 | | 323,407,833 | 0.945 | 342,107,425 | 267.2 | 1.42 | 3.28 | 2013 | | 333,216,505 | 0.958 | 347,894,160 | 271.7 | 1.69 | 3.27 | 2014 | | 343,914,556 | 0.971 | 354,109,365 | 276.6 | 1.79 | 3.24 | 2015 | | 356,643,697 | 0.973 | 366,544,052 | 286.3 | 3.51 | 3.23 | 2016 | | 363,904,475 | 0.983 | 370,258,104 | 289.2 | 1.01 | 3.22 | 2017 | | 376,496,539 | 1.000 | 376,496,539 | 294.1 | 1.68 | 3.18 | 2018 | | 392,158,162 | 1.020 | 384,291,711 | 300.2 | 2.07 | 3.15 | 2019 | | 408,762,905 | 1.035 | 394,890,405 | 308.5 | 2.76 | 3.15 | 2020 | | 410,231,771 | 1.046 | 392,059,799 | 306.2 | -0.72 | 3.12 | 2021 | | 436,501,326 | 1.090 | 400,456,258 | 312.8 | 2.14 | 3.06 | 2022 | | 460,796,732 | 1.160 | 397,091,364 | 310.2 | -0.84 | 3.03 |
Source: Calculations by the New Jersey Regional Economic Analysis Project (NJ-REAP) with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis November 2023 REAP_PI_CA1400_1200_PSN | | | | |
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, 1969-2022 | | | | | | | | 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 New Jersey Regional Economic Analysis Project (NJ-REAP) with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis November 2023 REAP_PI_CA1400_1200_PN | | | | |
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