| Nonmetropolitan U.S. vs. New Jersey
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022 Introduction Nonmetropolitan U.S.: 2022 TPI = $2,314,026,455K 2022 Percent of State = 10.60% 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 the Nonmetropolitan U.S. 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 the Nonmetropolitan U.S.'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 the Nonmetropolitan U.S. over time. When measured in current dollars, the Nonmetropolitan U.S.'s total personal income increased 1,891.33%, from $116B in 1970 to $2,314B in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 239.19%, from $588B in 1970 to $1,994B in 2022. Figure 2. Figure 2 traces the Nonmetropolitan U.S.'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, the Nonmetropolitan U.S.'s real total personal income rose from $567B in 1969 to $1,994B in 2022, for a net gain of $1,427B, or 251.45%. In comparison, New Jersey's real total personal income increased from $172B in 1969 to $616B in 2022, for a net gain of $444B, or 257.94%. Figure 3. Figure 3 portrays the Nonmetropolitan U.S.'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. The Nonmetropolitan U.S.'s overall real total personal income growth was 251.45% over 1969-2022 trailed New Jersey's increase of 257.94%, and fell below the United States' increase of 348.76%. Figure 4. Another interesting and insightful way of highlighting the total personal income growth of the Nonmetropolitan U.S. and New Jersey is to compare their individual percentage contributions to the United States' total 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 the United States' total personal income, while a declining share shows they grew more slowly. In 1969, the Nonmetropolitan U.S.'s total personal income comprised 13.54% of the United States' total personal income, while in 2022 it totaled 10.60% thereby yielding a -2.94% share-shift. Similarly, in 1969, New Jersey's total personal income accounted for 4.11% of the United States' total personal income, while in 2022 it consisted of 3.28%, resulting in a -0.83% share-shift. | | | | | | Total Personal Income Share-Shift 2022 vs. 1969 | Share-
Shift* | | 2022 | vs. | 1969 | | -0.83% | = | 3.28% | - | 4.11% | | -2.94% | = | 10.60% | - | 13.54% |
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Figure 5. Figure 5 highlights the short-run pattern of the Nonmetropolitan U.S.'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, the Nonmetropolitan U.S.'s real total personal income grew at an annual rate of 2.43% over 1970-2022. The Nonmetropolitan U.S. recorded its highest growth in 1973 (11.09%) and posted its lowest growth in 2022 (-4.83%). In 2022, the Nonmetropolitan U.S.'s real total personal income declined by -4.83% Figure 6. Over the past five decades some nonmetropolitan regions 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 the Nonmetropolitan U.S.'s real total 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, the Nonmetropolitan U.S.'s annual real total personal income growth rate averaged 4.11%. It averaged 1.80% in the 1980s, 2.68% during the 1990s, 1.95% throughout the 2000s, 1.63% in the 2010s, 2.32% thus far this decade (2020-2022). Figure 7. Figure 7 compares the decade average growth rates for the Nonmetropolitan U.S. noted in the previous graph with the corresponding decade averages for New Jersey and the nation. As the chart reveals, the Nonmetropolitan U.S.'s average annual real total personal income growth outpaced New Jersey's average throughout the 1970s (4.11% vs. 2.51%), posted below New Jersey's average during the 1980s (1.80% vs. 3.80%), fell below New Jersey's average during the 1990s (2.68% vs. 2.71%), topped New Jersey's average throughout the 2000s (1.95% vs. 1.69%), fell below New Jersey's average throughout the 2010s (1.63% vs. 2.10%), and recorded above New Jersey's average over the 3 year period of the current decade, 2020-2022 (2.32% vs. 0.77%). Finally, relative to nationwide real total personal income growth trends, the Nonmetropolitan U.S. outperformed the nation over the 1970s (4.11% vs. 3.50%), trailed the nation in the 1980s (1.80% vs. 3.16%), trailed the nation over the 1990s (2.68% vs. 3.27%), fell below the nation over the 2000s (1.95% vs. 2.06%), posted below the nation throughout the 2010s (1.63% vs. 2.72%), and outperformed the nation over 2020-2022 (2.32% vs. 2.10%). | | | | | | Real* Total Personal Income Growth: Average Annual Percent Change | | | | | | | | | | | | | | | | | | | | | | 2.43 | 4.11 | 1.80 | 2.68 | 1.95 | 1.63 | 2.32 | -4.83 | | | 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.
| | | | | | Nonmetropolitan U.S.:
Total Personal Income, 1969-2022 | | | | | | | | | 1969 | | 107,141,223 | 0.189 | 567,395,133 | 100.0 | N | 13.54 | 1970 | | 116,205,291 | 0.198 | 587,904,943 | 103.6 | 3.61 | 13.58 | 1971 | | 126,564,063 | 0.206 | 614,239,568 | 108.3 | 4.48 | 13.69 | 1972 | | 141,314,314 | 0.213 | 663,198,395 | 116.9 | 7.97 | 13.90 | 1973 | | 165,434,676 | 0.225 | 736,738,704 | 129.8 | 11.09 | 14.60 | 1974 | | 178,599,143 | 0.248 | 720,361,162 | 127.0 | -2.22 | 14.35 | 1975 | | 196,701,464 | 0.269 | 732,321,162 | 129.1 | 1.66 | 14.44 | 1976 | | 214,639,825 | 0.283 | 757,561,236 | 133.5 | 3.45 | 14.35 | 1977 | | 236,171,216 | 0.302 | 782,645,864 | 137.9 | 3.31 | 14.30 | 1978 | | 266,242,160 | 0.323 | 824,892,056 | 145.4 | 5.40 | 14.35 | 1979 | | 296,830,826 | 0.351 | 844,637,128 | 148.9 | 2.39 | 14.32 | 1980 | | 323,063,134 | 0.389 | 829,899,132 | 146.3 | -1.74 | 13.96 | 1981 | | 364,134,984 | 0.424 | 858,505,208 | 151.3 | 3.45 | 14.05 | 1982 | | 386,441,249 | 0.448 | 863,150,810 | 152.1 | 0.54 | 13.91 | 1983 | | 405,385,860 | 0.467 | 868,510,284 | 153.1 | 0.62 | 13.65 | 1984 | | 447,037,489 | 0.484 | 922,887,527 | 162.7 | 6.26 | 13.65 | 1985 | | 467,715,411 | 0.501 | 933,042,234 | 164.4 | 1.10 | 13.33 | 1986 | | 484,732,288 | 0.512 | 946,391,550 | 166.8 | 1.43 | 13.04 | 1987 | | 503,365,211 | 0.528 | 953,307,093 | 168.0 | 0.73 | 12.80 | 1988 | | 533,517,297 | 0.549 | 972,418,294 | 171.4 | 2.00 | 12.51 | 1989 | | 576,979,271 | 0.573 | 1,007,630,448 | 177.6 | 3.62 | 12.53 | 1990 | | 607,606,086 | 0.598 | 1,016,488,642 | 179.2 | 0.88 | 12.41 | 1991 | | 632,227,501 | 0.618 | 1,023,452,425 | 180.4 | 0.69 | 12.46 | 1992 | | 677,267,764 | 0.634 | 1,067,908,805 | 188.2 | 4.34 | 12.53 | 1993 | | 706,784,984 | 0.650 | 1,087,361,514 | 191.6 | 1.82 | 12.52 | 1994 | | 747,716,862 | 0.664 | 1,126,826,304 | 198.6 | 3.63 | 12.60 | 1995 | | 778,929,602 | 0.678 | 1,149,643,714 | 202.6 | 2.02 | 12.41 | 1996 | | 828,059,835 | 0.692 | 1,196,566,384 | 210.9 | 4.08 | 12.43 | 1997 | | 869,045,637 | 0.704 | 1,234,317,095 | 217.5 | 3.15 | 12.29 | 1998 | | 913,477,671 | 0.710 | 1,287,186,539 | 226.9 | 4.28 | 12.04 | 1999 | | 944,508,268 | 0.720 | 1,311,798,820 | 231.2 | 1.91 | 11.84 | 2000 | | 998,039,513 | 0.738 | 1,351,954,042 | 238.3 | 3.06 | 11.58 | 2001 | | 1,048,989,445 | 0.753 | 1,393,043,272 | 245.5 | 3.04 | 11.67 | 2002 | | 1,067,258,389 | 0.763 | 1,398,930,921 | 246.6 | 0.42 | 11.67 | 2003 | | 1,113,302,802 | 0.779 | 1,429,253,604 | 251.9 | 2.17 | 11.75 | 2004 | | 1,174,432,205 | 0.798 | 1,471,221,773 | 259.3 | 2.94 | 11.73 | 2005 | | 1,221,652,725 | 0.821 | 1,487,516,560 | 262.2 | 1.11 | 11.59 | 2006 | | 1,281,671,956 | 0.844 | 1,517,849,308 | 267.5 | 2.04 | 11.35 | 2007 | | 1,354,708,412 | 0.866 | 1,564,201,984 | 275.7 | 3.05 | 11.36 | 2008 | | 1,437,169,961 | 0.892 | 1,611,719,144 | 284.1 | 3.04 | 11.57 | 2009 | | 1,413,769,857 | 0.889 | 1,589,916,732 | 280.2 | -1.35 | 11.72 | 2010 | | 1,472,833,472 | 0.905 | 1,627,188,581 | 286.8 | 2.34 | 11.74 | 2011 | | 1,556,946,119 | 0.928 | 1,677,671,349 | 295.7 | 3.10 | 11.71 | 2012 | | 1,601,316,787 | 0.945 | 1,693,905,671 | 298.5 | 0.97 | 11.52 | 2013 | | 1,628,633,966 | 0.958 | 1,700,372,690 | 299.7 | 0.38 | 11.58 | 2014 | | 1,679,829,343 | 0.971 | 1,729,625,254 | 304.8 | 1.72 | 11.37 | 2015 | | 1,717,311,624 | 0.973 | 1,764,983,837 | 311.1 | 2.04 | 11.10 | 2016 | | 1,723,890,854 | 0.983 | 1,753,989,311 | 309.1 | -0.62 | 10.85 | 2017 | | 1,784,632,909 | 1.000 | 1,784,632,909 | 314.5 | 1.75 | 10.71 | 2018 | | 1,856,372,865 | 1.020 | 1,819,135,168 | 320.6 | 1.93 | 10.60 | 2019 | | 1,934,158,678 | 1.035 | 1,868,517,653 | 329.3 | 2.71 | 10.54 | 2020 | | 2,095,069,208 | 1.046 | 2,002,264,260 | 352.9 | 7.16 | 10.68 | 2021 | | 2,283,825,007 | 1.090 | 2,095,233,078 | 369.3 | 4.64 | 10.68 | 2022 | | 2,314,026,455 | 1.160 | 1,994,111,196 | 351.5 | -4.83 | 10.60 |
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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