| Morris County vs. New Jersey
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022 Introduction Morris County: 2022 TPI = $57,042,676K 2022 Percent of State = 7.98% New Jersey: 2022 TPI = $714,990,176K 2022 Percent of U.S. = 3.28% 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 Morris County and New Jersey 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. Figure 1. Figure 1 depicts Morris 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 Morris County over time. When measured in current dollars, Morris County's total personal income increased 2,659.27%, from $2,067M in 1970 to $57,043M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 370.00%, from $10,459M in 1970 to $49,156M in 2022. Figure 2. Figure 2 traces Morris County's and New Jersey'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, Morris County's real total personal income rose from $10,110M in 1969 to $49,156M in 2022, for a net gain of $39,046M, or 386.21%. In comparison, New Jersey's real total personal income increased from $172,135M in 1969 to $616,142M in 2022, for a net advance of $444,008M, or 257.94%. Figure 3. Figure 3 portrays Morris County's real total personal income growth in a broader context by offering direct comparisons across time with New Jersey, 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. Morris County's overall real total personal income growth was 386.21% over 1969-2022 outpaced New Jersey's increase of 257.94%, and outpaced the United States' increase of 348.76%. Figure 4. Another interesting and insightful way of highlighting the total personal income growth of Morris County is to trace its individual percentage contributions to New Jersey'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 New Jersey's total personal income, while a declining share shows it grew more slowly. In 1969, Morris County's total personal income totaled 5.87% of New Jersey's total personal income, while in 2022 it totaled 7.98% thereby yielding a +2.10% share-shift. | | | | | | Total Personal Income Share-Shift 2022 vs. 1969 | Share-
Shift* | | 2022 | vs. | 1969 | | +2.10% | = | 7.98% | - | 5.87% |
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Figure 5. Figure 5 displays the short-run pattern of Morris 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, Morris County's real total personal income grew at an annual rate of 3.07% over 1970-2022. The county recorded its highest growth in 2000 (10.39%) and recorded its lowest growth in 2009 (-3.65%). In 2022, Morris County's real total personal income declined by -2.50% 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 Morris 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, Morris County's annual real total personal income growth rate averaged 3.38%. It averaged 4.79% during the 1980s, 3.71% throughout the 1990s, 1.95% in the 2000s, 2.06% throughout the 2010s, 1.21% thus far this decade (2020-2022). Figure 7. Figure 7 compares the decade average growth rates for Morris County noted in the previous graph with the corresponding decade averages for New Jersey and the nation. As the chart reveals, Morris County's average annual real total personal income growth outperformed New Jersey's average in the 1970s (3.38% vs. 2.51%), outpaced New Jersey's average during the 1980s (4.79% vs. 3.80%), surpassed New Jersey's average throughout the 1990s (3.71% vs. 2.71%), outpaced New Jersey's average in the 2000s (1.95% vs. 1.69%), amounted to less than New Jersey's average in the 2010s (2.06% vs. 2.10%), and topped New Jersey's average over the 3 year period of the current decade, 2020-2022 (1.21% vs. 0.77%). Finally, relative to nationwide real total personal income growth trends, Morris County recorded underneath the nation over the 1970s (3.38% vs. 3.50%), led the nation during the 1980s (4.79% vs. 3.16%), registered above the nation throughout the 1990s (3.71% vs. 3.27%), lagged the nation throughout the 2000s (1.95% vs. 2.06%), recorded underneath the nation in the 2010s (2.06% vs. 2.72%), and posted below the nation over 2020-2022 (1.21% vs. 2.10%). | | | | | | Real* Total Personal Income Growth: Average Annual Percent Change | | | | | | | | | | | | | | | | | | | | | | 3.07 | 3.38 | 4.79 | 3.71 | 1.95 | 2.06 | 1.21 | -2.50 | | | 2.46 | 2.51 | 3.80 | 2.71 | 1.69 | 2.10 | 0.77 | -4.75 | | | 2.89 | 3.50 | 3.16 | 3.27 | 2.06 | 2.72 | 2.10 | -4.19 |
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 Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.
| | | | | | Morris County:
Total Personal Income, 1969-2022 | | | | | | | | | 1969 | | 1,909,090 | 0.189 | 10,110,099 | 100.0 | N | 5.87 | 1970 | | 2,067,308 | 0.198 | 10,458,909 | 103.5 | 3.45 | 5.86 | 1971 | | 2,240,163 | 0.206 | 10,871,939 | 107.5 | 3.95 | 5.88 | 1972 | | 2,463,962 | 0.213 | 11,563,554 | 114.4 | 6.36 | 5.95 | 1973 | | 2,712,626 | 0.225 | 12,080,276 | 119.5 | 4.47 | 6.02 | 1974 | | 2,942,500 | 0.248 | 11,868,269 | 117.4 | -1.75 | 6.01 | 1975 | | 3,191,655 | 0.269 | 11,882,558 | 117.5 | 0.12 | 6.04 | 1976 | | 3,514,728 | 0.283 | 12,405,068 | 122.7 | 4.40 | 6.12 | 1977 | | 3,905,634 | 0.302 | 12,942,849 | 128.0 | 4.34 | 6.22 | 1978 | | 4,400,266 | 0.323 | 13,633,245 | 134.8 | 5.33 | 6.31 | 1979 | | 4,943,677 | 0.351 | 14,067,316 | 139.1 | 3.18 | 6.39 | 1980 | | 5,635,365 | 0.389 | 14,476,379 | 143.2 | 2.91 | 6.47 | 1981 | | 6,369,642 | 0.424 | 15,017,428 | 148.5 | 3.74 | 6.56 | 1982 | | 6,943,964 | 0.448 | 15,509,960 | 153.4 | 3.28 | 6.61 | 1983 | | 7,608,089 | 0.467 | 16,299,788 | 161.2 | 5.09 | 6.71 | 1984 | | 8,498,914 | 0.484 | 17,545,602 | 173.5 | 7.64 | 6.78 | 1985 | | 9,174,785 | 0.501 | 18,302,715 | 181.0 | 4.32 | 6.82 | 1986 | | 9,919,826 | 0.512 | 19,367,473 | 191.6 | 5.82 | 6.89 | 1987 | | 10,759,884 | 0.528 | 20,377,796 | 201.6 | 5.22 | 6.95 | 1988 | | 11,940,338 | 0.549 | 21,763,124 | 215.3 | 6.80 | 7.00 | 1989 | | 12,842,932 | 0.573 | 22,428,760 | 221.8 | 3.06 | 7.02 | 1990 | | 13,289,650 | 0.598 | 22,232,790 | 219.9 | -0.87 | 6.92 | 1991 | | 13,572,541 | 0.618 | 21,971,284 | 217.3 | -1.18 | 6.92 | 1992 | | 14,734,587 | 0.634 | 23,233,344 | 229.8 | 5.74 | 7.00 | 1993 | | 15,682,856 | 0.650 | 24,127,471 | 238.6 | 3.85 | 7.21 | 1994 | | 16,133,523 | 0.664 | 24,313,586 | 240.5 | 0.77 | 7.17 | 1995 | | 17,648,648 | 0.678 | 26,048,127 | 257.6 | 7.13 | 7.39 | 1996 | | 18,980,105 | 0.692 | 27,426,708 | 271.3 | 5.29 | 7.51 | 1997 | | 20,262,489 | 0.704 | 28,779,083 | 284.7 | 4.93 | 7.54 | 1998 | | 22,062,057 | 0.710 | 31,087,769 | 307.5 | 8.02 | 7.70 | 1999 | | 23,151,148 | 0.720 | 32,153,926 | 318.0 | 3.43 | 7.72 | 2000 | | 26,202,519 | 0.738 | 35,494,187 | 351.1 | 10.39 | 7.95 | 2001 | | 26,466,938 | 0.753 | 35,147,723 | 347.6 | -0.98 | 7.75 | 2002 | | 26,567,102 | 0.763 | 34,823,376 | 344.4 | -0.92 | 7.68 | 2003 | | 27,454,934 | 0.779 | 35,246,532 | 348.6 | 1.22 | 7.75 | 2004 | | 28,847,331 | 0.798 | 36,137,311 | 357.4 | 2.53 | 7.80 | 2005 | | 30,027,717 | 0.821 | 36,562,540 | 361.6 | 1.18 | 7.85 | 2006 | | 32,232,970 | 0.844 | 38,172,631 | 377.6 | 4.40 | 7.86 | 2007 | | 34,524,137 | 0.866 | 39,862,987 | 394.3 | 4.43 | 7.94 | 2008 | | 35,860,655 | 0.892 | 40,216,054 | 397.8 | 0.89 | 7.98 | 2009 | | 34,456,063 | 0.889 | 38,749,073 | 383.3 | -3.65 | 7.90 | 2010 | | 36,369,913 | 0.905 | 40,181,533 | 397.4 | 3.70 | 8.10 | 2011 | | 37,984,624 | 0.928 | 40,929,943 | 404.8 | 1.86 | 8.09 | 2012 | | 39,264,439 | 0.945 | 41,534,727 | 410.8 | 1.48 | 8.10 | 2013 | | 39,891,828 | 0.958 | 41,648,999 | 412.0 | 0.28 | 8.16 | 2014 | | 41,184,238 | 0.971 | 42,405,080 | 419.4 | 1.82 | 8.09 | 2015 | | 43,035,157 | 0.973 | 44,229,804 | 437.5 | 4.30 | 8.12 | 2016 | | 44,425,368 | 0.983 | 45,201,017 | 447.1 | 2.20 | 8.15 | 2017 | | 45,747,789 | 1.000 | 45,747,789 | 452.5 | 1.21 | 8.08 | 2018 | | 47,571,689 | 1.020 | 46,617,430 | 461.1 | 1.90 | 8.04 | 2019 | | 49,133,007 | 1.035 | 47,465,542 | 469.5 | 1.82 | 7.86 | 2020 | | 51,243,502 | 1.046 | 48,973,577 | 484.4 | 3.18 | 7.79 | 2021 | | 54,954,469 | 1.090 | 50,416,482 | 498.7 | 2.95 | 7.79 | 2022 | | 57,042,676 | 1.160 | 49,156,499 | 486.2 | -2.50 | 7.98 |
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_300_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 Personal Income, 1969-2022 | | | | | | | | | 1969 | | 32,504,175 | 0.189 | 172,134,592 | 100.0 | N | 4.11 | 1970 | | 35,294,519 | 0.198 | 178,561,768 | 103.7 | 3.73 | 4.13 | 1971 | | 38,078,118 | 0.206 | 184,800,379 | 107.4 | 3.49 | 4.12 | 1972 | | 41,394,930 | 0.213 | 194,269,429 | 112.9 | 5.12 | 4.07 | 1973 | | 45,063,192 | 0.225 | 200,682,218 | 116.6 | 3.30 | 3.98 | 1974 | | 48,945,152 | 0.248 | 197,415,206 | 114.7 | -1.63 | 3.93 | 1975 | | 52,877,698 | 0.269 | 196,864,103 | 114.4 | -0.28 | 3.88 | 1976 | | 57,408,891 | 0.283 | 202,621,999 | 117.7 | 2.92 | 3.84 | 1977 | | 62,802,139 | 0.302 | 208,119,496 | 120.9 | 2.71 | 3.80 | 1978 | | 69,699,071 | 0.323 | 215,947,054 | 125.5 | 3.76 | 3.76 | 1979 | | 77,368,975 | 0.351 | 220,154,725 | 127.9 | 1.95 | 3.73 | 1980 | | 87,084,508 | 0.389 | 223,706,607 | 130.0 | 1.61 | 3.76 | 1981 | | 97,168,413 | 0.424 | 229,089,739 | 133.1 | 2.41 | 3.75 | 1982 | | 104,980,977 | 0.448 | 234,484,325 | 136.2 | 2.35 | 3.78 | 1983 | | 113,460,820 | 0.467 | 243,081,712 | 141.2 | 3.67 | 3.82 | 1984 | | 125,385,448 | 0.484 | 258,852,264 | 150.4 | 6.49 | 3.83 | 1985 | | 134,484,929 | 0.501 | 268,283,053 | 155.9 | 3.64 | 3.83 | 1986 | | 143,990,664 | 0.512 | 281,127,441 | 163.3 | 4.79 | 3.87 | 1987 | | 154,710,515 | 0.528 | 293,001,240 | 170.2 | 4.22 | 3.93 | 1988 | | 170,480,905 | 0.549 | 310,727,978 | 180.5 | 6.05 | 4.00 | 1989 | | 182,884,117 | 0.573 | 319,386,872 | 185.5 | 2.79 | 3.97 | 1990 | | 192,170,879 | 0.598 | 321,490,387 | 186.8 | 0.66 | 3.92 | 1991 | | 196,169,703 | 0.618 | 317,560,305 | 184.5 | -1.22 | 3.87 | 1992 | | 210,398,531 | 0.634 | 331,754,227 | 192.7 | 4.47 | 3.89 | 1993 | | 217,404,095 | 0.650 | 334,467,838 | 194.3 | 0.82 | 3.85 | 1994 | | 225,066,906 | 0.664 | 339,180,942 | 197.0 | 1.41 | 3.79 | 1995 | | 238,901,876 | 0.678 | 352,601,877 | 204.8 | 3.96 | 3.81 | 1996 | | 252,630,680 | 0.692 | 365,057,411 | 212.1 | 3.53 | 3.79 | 1997 | | 268,793,397 | 0.704 | 381,770,842 | 221.8 | 4.58 | 3.80 | 1998 | | 286,580,221 | 0.710 | 403,821,806 | 234.6 | 5.78 | 3.78 | 1999 | | 299,723,847 | 0.720 | 416,277,339 | 241.8 | 3.08 | 3.76 | 2000 | | 329,591,759 | 0.738 | 446,468,206 | 259.4 | 7.25 | 3.82 | 2001 | | 341,308,913 | 0.753 | 453,253,450 | 263.3 | 1.52 | 3.80 | 2002 | | 345,988,725 | 0.763 | 453,511,849 | 263.5 | 0.06 | 3.78 | 2003 | | 354,097,719 | 0.779 | 454,589,210 | 264.1 | 0.24 | 3.74 | 2004 | | 369,770,927 | 0.798 | 463,215,362 | 269.1 | 1.90 | 3.69 | 2005 | | 382,749,265 | 0.821 | 466,045,594 | 270.7 | 0.61 | 3.63 | 2006 | | 410,264,863 | 0.844 | 485,865,541 | 282.3 | 4.25 | 3.63 | 2007 | | 435,048,745 | 0.866 | 502,325,153 | 291.8 | 3.39 | 3.65 | 2008 | | 449,545,421 | 0.892 | 504,144,242 | 292.9 | 0.36 | 3.62 | 2009 | | 436,271,441 | 0.889 | 490,628,132 | 285.0 | -2.68 | 3.62 | 2010 | | 448,931,100 | 0.905 | 495,979,738 | 288.1 | 1.09 | 3.58 | 2011 | | 469,252,907 | 0.928 | 505,638,665 | 293.7 | 1.95 | 3.53 | 2012 | | 484,600,001 | 0.945 | 512,619,799 | 297.8 | 1.38 | 3.48 | 2013 | | 488,591,296 | 0.958 | 510,112,962 | 296.3 | -0.49 | 3.47 | 2014 | | 509,357,588 | 0.971 | 524,456,696 | 304.7 | 2.81 | 3.45 | 2015 | | 530,303,097 | 0.973 | 545,024,201 | 316.6 | 3.92 | 3.43 | 2016 | | 545,301,738 | 0.983 | 554,822,492 | 322.3 | 1.80 | 3.43 | 2017 | | 566,237,088 | 1.000 | 566,237,088 | 329.0 | 2.06 | 3.40 | 2018 | | 591,910,410 | 1.020 | 580,037,052 | 337.0 | 2.44 | 3.38 | 2019 | | 624,819,804 | 1.035 | 603,614,816 | 350.7 | 4.06 | 3.41 | 2020 | | 657,894,366 | 1.046 | 628,751,724 | 365.3 | 4.16 | 3.35 | 2021 | | 705,095,171 | 1.090 | 646,870,369 | 375.8 | 2.88 | 3.30 | 2022 | | 714,990,176 | 1.160 | 616,142,444 | 357.9 | -4.75 | 3.28 |
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_300_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 Personal Income, 1969-2022 | | | | | | | | 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 |
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_300_PN | | | | | |
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