Philadelphia-Camden-Wilmington MSA vs. Maryland
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Philadelphia-Camden-Wilmington MSA vs. Maryland
Philadelphia-Camden-Wilmington MSA:
2022 TPI = $457,424,000K
2022 Percent of State = 2.35%
Maryland:
2022 TPI = $432,933,432K
2022 Percent of U.S. = 1.98%
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 Philadelphia-Camden-Wilmington MSA and Maryland 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.
Philadelphia-Camden-Wilmington MSA Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Philadelphia-Camden-Wilmington MSA Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts the Philadelphia-Camden-Wilmington MSA'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 Philadelphia-Camden-Wilmington MSA over time.
When measured in current dollars, the Philadelphia-Camden-Wilmington MSA's total personal income increased 1,765.50%, from $24,520M in 1970 to $457,424M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 217.76%, from $124,052M in 1970 to $394,185M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 traces the Philadelphia-Camden-Wilmington MSA's and Maryland'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 Philadelphia-Camden-Wilmington MSA's real total personal income rose from $120,762M in 1969 to $394,185M in 2022, for a net gain of $273,422M, or 226.41%. In comparison, Maryland's real total personal income advanced from $91,277M in 1969 to $373,080M in 2022, for a net gain of $281,803M, or 308.73%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays the Philadelphia-Camden-Wilmington MSA's real total personal income growth in a broader context by offering direct comparisons across time with Maryland, 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 Philadelphia-Camden-Wilmington MSA's overall real total personal income growth was 226.41% over 1969-2022 trailed Maryland's increase of 308.73%, and fell below the United States' increase of 348.76%.
Total Personal Income as a Percent of the Maryland Total: 1969-2022
Total Personal Income as a Percent of the Maryland Total: 1969-2022
Figure 4.
Another interesting and insightful way of contrasting the total personal income growth of the Philadelphia-Camden-Wilmington MSA is to compare its individual percentage contributions to Maryland'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 Maryland's total personal income, while a declining share shows it grew more slowly.
In 1969, the Philadelphia-Camden-Wilmington MSA's total personal income comprised 132.30% of Maryland's total personal income, while in 2022 it comprised 105.66% thereby yielding a -26.65% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-26.65%
=
105.66%
-
132.30%
 
   
Philadelphia-Camden-Wilmington MSA Real Total Personal Income:
Annual Percent Change, 1970-2022
Philadelphia-Camden-Wilmington MSA Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of the Philadelphia-Camden-Wilmington MSA'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 illustrated 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 Philadelphia-Camden-Wilmington MSA's real total personal income grew at an annual rate of 2.28% over 1970-2022. The Philadelphia-Camden-Wilmington MSA posted its highest growth in 1998 (6.31%) and recorded its lowest growth in 2022 (-4.32%). In 2022, the Philadelphia-Camden-Wilmington MSA's real total personal income declined by -4.32%
Philadelphia-Camden-Wilmington MSA Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Philadelphia-Camden-Wilmington MSA Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Figure 6.
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 6 again shows the annual percent change in the Philadelphia-Camden-Wilmington MSA'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, the Philadelphia-Camden-Wilmington MSA's annual real total personal income growth rate averaged 1.98%. It averaged 3.16% during the 1980s, 2.56% during the 1990s, 1.91% in the 2000s, 2.16% in the 2010s, 0.97% thus far this decade (2020-2022).
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for the Philadelphia-Camden-Wilmington MSA noted in the previous graph with the corresponding decade averages for Maryland and the nation. As the chart reveals, the Philadelphia-Camden-Wilmington MSA's average annual real total personal income growth lagged Maryland's average during the 1970s (1.98% vs. 3.14%), amounted to less than Maryland's average during the 1980s (3.16% vs. 3.97%), trailed Maryland's average throughout the 1990s (2.56% vs. 2.81%), posted below Maryland's average in the 2000s (1.91% vs. 2.66%), recorded above Maryland's average during the 2010s (2.16% vs. 1.65%), and topped Maryland's average over the 3 year period of the current decade, 2020-2022 (0.97% vs. 0.58%).
Finally, relative to nationwide real total personal income growth trends, the Philadelphia-Camden-Wilmington MSA recorded underneath the nation throughout the 1970s (1.98% vs. 3.50%), registered above the nation during the 1980s (3.16% vs. 3.16%), posted below the nation in the 1990s (2.56% vs. 3.27%), fell under the nation in the 2000s (1.91% vs. 2.06%), posted below the nation over the 2010s (2.16% vs. 2.72%), and recorded underneath the nation over 2020-2022 (0.97% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
2.28
1.98
3.16
2.56
1.91
2.16
0.97
-4.32
 
2.72
3.14
3.97
2.81
2.66
1.65
0.58
-4.62
 
2.89
3.50
3.16
3.27
2.06
2.72
2.10
-4.19
 
   

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

   
 
Philadelphia-Camden-Wilmington MSA:
Total Personal Income, 1969-2022
 
1969
 
22,803,572
0.189
120,762,442
100.0
N
3.33
1970
 
24,520,198
0.198
124,052,403
102.7
2.72
3.32
1971
 
26,125,091
0.206
126,790,056
105.0
2.21
3.27
1972
 
28,339,983
0.213
133,001,610
110.1
4.90
3.24
1973
 
30,621,832
0.225
136,369,771
112.9
2.53
3.16
1974
 
33,305,265
0.248
134,333,340
111.2
-1.49
3.12
1975
 
35,981,127
0.269
133,958,031
110.9
-0.28
3.09
1976
 
39,176,435
0.283
138,271,397
114.5
3.22
3.06
1977
 
42,605,446
0.302
141,189,840
116.9
2.11
3.01
1978
 
46,787,916
0.323
144,961,941
120.0
2.67
2.94
1979
 
51,534,450
0.351
146,642,148
121.4
1.16
2.90
1980
 
57,107,204
0.389
146,699,558
121.5
0.04
2.87
1981
 
63,154,961
0.424
148,897,704
123.3
1.50
2.84
1982
 
68,255,814
0.448
152,455,415
126.2
2.39
2.85
1983
 
72,960,440
0.467
156,312,537
129.4
2.53
2.85
1984
 
79,378,086
0.484
163,872,264
135.7
4.84
2.81
1985
 
85,502,061
0.501
170,567,469
141.2
4.09
2.81
1986
 
90,937,917
0.512
177,547,232
147.0
4.09
2.81
1987
 
97,152,607
0.528
183,994,180
152.4
3.63
2.83
1988
 
105,830,420
0.549
192,892,409
159.7
4.84
2.84
1989
 
114,493,678
0.573
199,950,539
165.6
3.66
2.84
1990
 
121,247,509
0.598
202,839,831
168.0
1.45
2.83
1991
 
125,483,800
0.618
203,133,681
168.2
0.14
2.83
1992
 
132,123,433
0.634
208,330,863
172.5
2.56
2.79
1993
 
136,762,059
0.650
210,403,168
174.2
0.99
2.77
1994
 
141,374,386
0.664
213,054,413
176.4
1.26
2.73
1995
 
148,762,683
0.678
219,562,953
181.8
3.05
2.71
1996
 
156,694,291
0.692
226,427,021
187.5
3.13
2.69
1997
 
165,281,881
0.704
234,752,057
194.4
3.68
2.67
1998
 
177,107,548
0.710
249,563,245
206.7
6.31
2.66
1999
 
185,089,697
0.720
257,065,453
212.9
3.01
2.63
2000
 
200,239,969
0.738
271,247,012
224.6
5.52
2.63
2001
 
209,690,619
0.753
278,466,201
230.6
2.66
2.64
2002
 
214,288,483
0.763
280,883,044
232.6
0.87
2.65
2003
 
222,089,546
0.779
285,117,655
236.1
1.51
2.66
2004
 
234,858,037
0.798
294,208,773
243.6
3.19
2.66
2005
 
243,168,534
0.821
296,088,417
245.2
0.64
2.61
2006
 
257,772,414
0.844
305,272,873
252.8
3.10
2.58
2007
 
273,356,420
0.866
315,628,552
261.4
3.39
2.59
2008
 
280,540,550
0.892
314,613,155
260.5
-0.32
2.55
2009
 
275,824,313
0.889
310,190,296
256.9
-1.41
2.59
2010
 
287,819,509
0.905
317,983,416
263.3
2.51
2.60
2011
 
303,956,054
0.928
327,524,734
271.2
3.00
2.59
2012
 
318,151,947
0.945
336,547,641
278.7
2.75
2.59
2013
 
320,360,917
0.958
334,472,303
277.0
-0.62
2.58
2014
 
332,785,937
0.971
342,650,855
283.7
2.45
2.54
2015
 
347,132,408
0.973
356,768,731
295.4
4.12
2.52
2016
 
360,525,766
0.983
366,820,404
303.8
2.82
2.55
2017
 
367,463,723
1.000
367,463,723
304.3
0.18
2.47
2018
 
386,607,449
1.020
378,852,342
313.7
3.10
2.47
2019
 
397,282,338
1.035
383,799,463
317.8
1.31
2.42
2020
 
422,834,425
1.046
404,104,196
334.6
5.29
2.41
2021
 
449,045,229
1.090
411,964,321
341.1
1.95
2.35
2022
 
457,424,000
1.160
394,184,914
326.4
-4.32
2.35
Source: Calculations by the Maryland Regional Economic Analysis Project (MD-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_300_PSN
 
   

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

   
 
Maryland:
Total Personal Income, 1969-2022
 
1969
 
17,235,920
0.189
91,277,445
100.0
N
2.18
1970
 
19,167,231
0.198
96,970,712
106.2
6.24
2.24
1971
 
21,125,827
0.206
102,527,673
112.3
5.73
2.28
1972
 
23,176,397
0.213
108,768,524
119.2
6.09
2.28
1973
 
25,560,539
0.225
113,830,056
124.7
4.65
2.26
1974
 
27,902,797
0.248
112,543,044
123.3
-1.13
2.24
1975
 
30,204,127
0.269
112,450,212
123.2
-0.08
2.22
1976
 
32,906,940
0.283
116,143,508
127.2
3.28
2.20
1977
 
35,675,755
0.302
118,225,593
129.5
1.79
2.16
1978
 
39,617,165
0.323
122,744,965
134.5
3.82
2.13
1979
 
43,548,963
0.351
123,919,310
135.8
0.96
2.10
1980
 
48,519,338
0.389
124,638,661
136.5
0.58
2.10
1981
 
53,995,511
0.424
127,302,867
139.5
2.14
2.08
1982
 
58,547,190
0.448
130,770,342
143.3
2.72
2.11
1983
 
62,799,141
0.467
134,542,679
147.4
2.88
2.11
1984
 
69,586,502
0.484
143,658,007
157.4
6.78
2.12
1985
 
75,465,695
0.501
150,545,992
164.9
4.79
2.15
1986
 
81,514,058
0.512
159,148,086
174.4
5.71
2.19
1987
 
87,723,309
0.528
166,136,338
182.0
4.39
2.23
1988
 
96,684,853
0.549
176,223,190
193.1
6.07
2.27
1989
 
104,522,243
0.573
182,536,531
200.0
3.58
2.27
1990
 
110,892,381
0.598
185,516,321
203.2
1.63
2.26
1991
 
115,010,027
0.618
186,178,695
204.0
0.36
2.27
1992
 
120,581,709
0.634
190,131,991
208.3
2.12
2.23
1993
 
125,400,694
0.650
192,924,145
211.4
1.47
2.22
1994
 
131,300,749
0.664
197,873,213
216.8
2.57
2.21
1995
 
137,086,621
0.678
202,329,930
221.7
2.25
2.18
1996
 
143,495,296
0.692
207,354,155
227.2
2.48
2.15
1997
 
151,432,755
0.704
215,081,959
235.6
3.73
2.14
1998
 
163,509,024
0.710
230,401,488
252.4
7.12
2.16
1999
 
173,125,764
0.720
240,449,110
263.4
4.36
2.17
2000
 
188,437,155
0.738
255,258,805
279.7
6.16
2.19
2001
 
198,926,881
0.753
264,172,108
289.4
3.49
2.21
2002
 
206,707,343
0.763
270,945,908
296.8
2.56
2.26
2003
 
215,973,447
0.779
277,265,832
303.8
2.33
2.28
2004
 
230,279,226
0.798
288,472,855
316.0
4.04
2.30
2005
 
242,213,966
0.821
294,926,110
323.1
2.24
2.30
2006
 
254,883,062
0.844
301,851,092
330.7
2.35
2.26
2007
 
265,895,070
0.866
307,013,371
336.4
1.71
2.23
2008
 
278,708,349
0.892
312,558,427
342.4
1.81
2.24
2009
 
277,623,634
0.889
312,213,801
342.0
-0.11
2.30
2010
 
287,359,366
0.905
317,475,049
347.8
1.69
2.29
2011
 
303,270,094
0.928
326,785,585
358.0
2.93
2.28
2012
 
310,420,376
0.945
328,369,027
359.7
0.48
2.23
2013
 
309,329,474
0.958
322,954,943
353.8
-1.65
2.20
2014
 
318,983,090
0.971
328,438,844
359.8
1.70
2.16
2015
 
332,956,246
0.973
342,199,042
374.9
4.19
2.15
2016
 
344,195,091
0.983
350,204,602
383.7
2.34
2.17
2017
 
356,078,970
1.000
356,078,970
390.1
1.68
2.14
2018
 
367,831,289
1.020
360,452,820
394.9
1.23
2.10
2019
 
380,342,055
1.035
367,434,095
402.5
1.94
2.07
2020
 
400,176,131
1.046
382,449,592
419.0
4.09
2.04
2021
 
426,367,416
1.090
391,159,178
428.5
2.28
1.99
2022
 
432,933,432
1.160
373,080,179
408.7
-4.62
1.98
Source: Calculations by the Maryland Regional Economic Analysis Project (MD-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_300_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:
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 Maryland Regional Economic Analysis Project (MD-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_300_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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