Kennebec County vs. Maine
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Kennebec County vs. Maine
Kennebec County:
2022 Earnings = $5,052,240K
2022 Percent of State = 9.33%
Maine:
2022 Earnings = $54,138,243K
2022 Percent of U.S. = 0.36%
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.
Kennebec County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Kennebec County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Kennebec County'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 Kennebec County over time.
When measured in current dollars, Kennebec County's total industry earnings increased 1,616.77%, from $294M in 1970 to $5,052M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 192.42%, from $1,489M in 1970 to $4,354M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Kennebec County's and Maine'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, Kennebec County's real total industry earnings rose from $1,439M in 1969 to $4,354M in 2022, for a net gain of $2,914M, or 202.50%. In comparison, Maine's real total industry earnings increased from $13,811M in 1969 to $46,654M in 2022, for a net advance of $32,843M, or 237.81%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Kennebec County's real total industry earnings growth in a broader context by offering direct comparisons across time with Maine, the United States. The growth indices shown here express each region's real total industry earnings in 1969 as a base figure of 100, and the real total industry earningss in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real total industry earnings growth between regions that may differ vastly in size.
Kennebec County's overall real total industry earnings growth was 202.50% over 1969-2022 trailed Maine's increase of 237.81%, and fell below the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the Maine Total: 1969-2022
Total Industry Earnings as a Percent of the Maine Total: 1969-2022
Figure 4.
Another interesting and insightful way of comparing the total industry earnings growth of Kennebec County is to compare its individual percentage contributions to Maine's statewide total industry earnings over time, as shown in Figure 4. A rising share means a region's total industry earnings grew faster, or declined less, than Maine's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Kennebec County's total industry earnings totaled 10.42% of Maine's total industry earnings, while in 2022 it comprised 9.33% thereby yielding a -1.09% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-1.09%
=
9.33%
-
10.42%
 
   
Kennebec County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Kennebec County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Kennebec County'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, Kennebec County's real total industry earnings grew at an annual rate of 2.15% over 1970-2022. The county recorded its highest growth in 1972 (8.26%) and recorded its lowest growth in 1981 (-2.58%). In 2022, Kennebec County's real total industry earnings declined by -0.13%
Kennebec County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Kennebec County Real Total Industry Earnings:
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 illustrates the annual percent change in Kennebec County'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, Kennebec County's annual real total industry earnings growth rate averaged 3.53%. It averaged 3.40% throughout the 1980s, 1.07% in the 1990s, 1.56% in the 2000s, 1.04% during the 2010s, 2.68% thus far this decade (2020-2022).
Real Total Industry Earnings Growth:
Average Annual Percent Change by Decade
Real Total Industry Earnings Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Kennebec County noted in the previous graph with the corresponding decade averages for Maine and the nation. As the chart reveals, Kennebec County's average annual real total industry earnings growth led Maine's average in the 1970s (3.53% vs. 3.02%), lagged Maine's average throughout the 1980s (3.40% vs. 3.78%), fell below Maine's average in the 1990s (1.07% vs. 1.90%), led Maine's average throughout the 2000s (1.56% vs. 1.42%), lagged Maine's average during the 2010s (1.04% vs. 1.46%), and posted below Maine's average over the 3 year period of the current decade, 2020-2022 (2.68% vs. 3.20%).
Finally, relative to nationwide real total industry earnings growth trends, Kennebec County registered above the nation in the 1970s (3.53% vs. 3.13%), surpassed the nation throughout the 1980s (3.40% vs. 2.62%), lagged the nation during the 1990s (1.07% vs. 3.43%), outperformed the nation in the 2000s (1.56% vs. 1.47%), recorded underneath the nation throughout the 2010s (1.04% vs. 2.53%), and exceeded the nation over 2020-2022 (2.68% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
2.15
3.53
3.40
1.07
1.56
1.04
2.68
-0.13
 
2.37
3.02
3.78
1.90
1.42
1.46
3.20
1.06
 
2.57
3.13
2.62
3.43
1.47
2.53
1.48
0.05
 
   

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

   
 
Kennebec County:
Total Industry Earnings, 1969-2022
 
1969
 
271,778
0.189
1,439,273
100.0
N
10.42
1970
 
294,288
0.198
1,488,860
103.4
3.45
10.47
1971
 
323,213
0.206
1,568,614
109.0
5.36
10.89
1972
 
361,857
0.213
1,698,221
118.0
8.26
11.12
1973
 
406,697
0.225
1,811,165
125.8
6.65
11.11
1974
 
437,973
0.248
1,766,519
122.7
-2.47
10.97
1975
 
473,170
0.269
1,761,616
122.4
-0.28
11.38
1976
 
538,102
0.283
1,899,206
132.0
7.81
11.05
1977
 
581,148
0.302
1,925,862
133.8
1.40
11.02
1978
 
651,775
0.323
2,019,380
140.3
4.86
11.12
1979
 
711,156
0.351
2,023,606
140.6
0.21
10.96
1980
 
769,671
0.389
1,977,166
137.4
-2.29
10.81
1981
 
816,975
0.424
1,926,146
133.8
-2.58
10.61
1982
 
872,859
0.448
1,949,608
135.5
1.22
10.71
1983
 
929,571
0.467
1,991,540
138.4
2.15
10.55
1984
 
1,029,622
0.484
2,125,605
147.7
6.73
10.52
1985
 
1,092,588
0.501
2,179,596
151.4
2.54
10.28
1986
 
1,181,477
0.512
2,306,716
160.3
5.83
10.21
1987
 
1,316,563
0.528
2,493,396
173.2
8.09
10.34
1988
 
1,441,461
0.549
2,627,287
182.5
5.37
10.18
1989
 
1,608,547
0.573
2,809,149
195.2
6.92
10.54
1990
 
1,667,770
0.598
2,790,079
193.9
-0.68
10.55
1991
 
1,696,582
0.618
2,746,434
190.8
-1.56
10.79
1992
 
1,765,962
0.634
2,784,551
193.5
1.39
10.75
1993
 
1,793,900
0.650
2,759,846
191.8
-0.89
10.59
1994
 
1,854,518
0.664
2,794,801
194.2
1.27
10.54
1995
 
1,878,827
0.678
2,773,013
192.7
-0.78
10.41
1996
 
1,952,889
0.692
2,821,972
196.1
1.77
10.36
1997
 
2,023,164
0.704
2,873,527
199.7
1.83
10.17
1998
 
2,121,144
0.710
2,988,916
207.7
4.02
9.88
1999
 
2,245,668
0.720
3,118,940
216.7
4.35
9.74
2000
 
2,403,101
0.738
3,255,264
226.2
4.37
9.74
2001
 
2,479,685
0.753
3,292,987
228.8
1.16
9.50
2002
 
2,581,287
0.763
3,383,475
235.1
2.75
9.50
2003
 
2,647,267
0.779
3,398,551
236.1
0.45
9.36
2004
 
2,780,414
0.798
3,483,050
242.0
2.49
9.35
2005
 
2,851,336
0.821
3,471,862
241.2
-0.32
9.41
2006
 
3,046,246
0.844
3,607,586
250.7
3.91
9.56
2007
 
3,168,265
0.866
3,658,209
254.2
1.40
9.74
2008
 
3,252,665
0.892
3,647,712
253.4
-0.29
9.85
2009
 
3,231,953
0.889
3,634,634
252.5
-0.36
9.88
2010
 
3,293,839
0.905
3,639,038
252.8
0.12
9.75
2011
 
3,311,964
0.928
3,568,773
248.0
-1.93
9.70
2012
 
3,327,510
0.945
3,519,908
244.6
-1.37
9.60
2013
 
3,422,747
0.958
3,573,514
248.3
1.52
9.74
2014
 
3,503,007
0.971
3,606,848
250.6
0.93
9.68
2015
 
3,579,527
0.973
3,678,894
255.6
2.00
9.51
2016
 
3,661,576
0.983
3,725,506
258.8
1.27
9.47
2017
 
3,794,896
1.000
3,794,896
263.7
1.86
9.44
2018
 
3,950,418
1.020
3,871,175
269.0
2.01
9.41
2019
 
4,165,619
1.035
4,024,247
279.6
3.95
9.48
2020
 
4,388,256
1.046
4,193,870
291.4
4.22
9.58
2021
 
4,751,865
1.090
4,359,469
302.9
3.95
9.44
2022
 
5,052,240
1.160
4,353,765
302.5
-0.13
9.33
Source: Calculations by the Maine Regional Economic Analysis Project (ME-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PSN
 
   

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

   
 
Maine:
Total Industry Earnings, 1969-2022
 
1969
 
2,607,894
0.189
13,810,803
100.0
N
0.40
1970
 
2,810,078
0.198
14,216,726
102.9
2.94
0.41
1971
 
2,969,143
0.206
14,409,818
104.3
1.36
0.40
1972
 
3,255,441
0.213
15,278,022
110.6
6.03
0.40
1973
 
3,661,270
0.225
16,304,921
118.1
6.72
0.40
1974
 
3,990,858
0.248
16,096,713
116.6
-1.28
0.40
1975
 
4,157,357
0.269
15,477,874
112.1
-3.84
0.39
1976
 
4,868,702
0.283
17,183,856
124.4
11.02
0.41
1977
 
5,273,194
0.302
17,474,795
126.5
1.69
0.40
1978
 
5,862,016
0.323
18,162,151
131.5
3.93
0.40
1979
 
6,487,721
0.351
18,460,920
133.7
1.65
0.39
1980
 
7,121,544
0.389
18,294,143
132.5
-0.90
0.40
1981
 
7,700,701
0.424
18,155,608
131.5
-0.76
0.39
1982
 
8,148,360
0.448
18,200,085
131.8
0.24
0.40
1983
 
8,809,468
0.467
18,873,657
136.7
3.70
0.40
1984
 
9,786,303
0.484
20,203,355
146.3
7.05
0.40
1985
 
10,628,148
0.501
21,202,019
153.5
4.94
0.41
1986
 
11,570,257
0.512
22,589,775
163.6
6.55
0.42
1987
 
12,730,956
0.528
24,110,746
174.6
6.73
0.42
1988
 
14,153,301
0.549
25,796,593
186.8
6.99
0.43
1989
 
15,258,172
0.573
26,646,709
192.9
3.30
0.44
1990
 
15,803,548
0.598
26,438,391
191.4
-0.78
0.43
1991
 
15,724,966
0.618
25,455,638
184.3
-3.72
0.41
1992
 
16,424,299
0.634
25,897,665
187.5
1.74
0.40
1993
 
16,941,590
0.650
26,063,985
188.7
0.64
0.40
1994
 
17,598,285
0.664
26,521,015
192.0
1.75
0.39
1995
 
18,046,764
0.678
26,635,717
192.9
0.43
0.39
1996
 
18,855,746
0.692
27,247,007
197.3
2.29
0.38
1997
 
19,898,487
0.704
28,262,086
204.6
3.73
0.38
1998
 
21,468,191
0.710
30,250,949
219.0
7.04
0.38
1999
 
23,055,161
0.720
32,020,612
231.9
5.85
0.38
2000
 
24,661,701
0.738
33,406,980
241.9
4.33
0.37
2001
 
26,114,648
0.753
34,679,886
251.1
3.81
0.38
2002
 
27,173,257
0.763
35,617,906
257.9
2.70
0.39
2003
 
28,269,514
0.779
36,292,287
262.8
1.89
0.39
2004
 
29,745,048
0.798
37,261,889
269.8
2.67
0.39
2005
 
30,307,083
0.821
36,902,703
267.2
-0.96
0.38
2006
 
31,850,930
0.844
37,720,192
273.1
2.22
0.37
2007
 
32,534,124
0.866
37,565,236
272.0
-0.41
0.37
2008
 
33,019,307
0.892
37,029,614
268.1
-1.43
0.37
2009
 
32,715,979
0.889
36,792,185
266.4
-0.64
0.38
2010
 
33,774,756
0.905
37,314,400
270.2
1.42
0.37
2011
 
34,151,398
0.928
36,799,489
266.5
-1.38
0.36
2012
 
34,678,287
0.945
36,683,402
265.6
-0.32
0.35
2013
 
35,138,627
0.958
36,686,427
265.6
0.01
0.35
2014
 
36,191,629
0.971
37,264,473
269.8
1.58
0.34
2015
 
37,656,990
0.973
38,702,340
280.2
3.86
0.34
2016
 
38,677,005
0.983
39,352,290
284.9
1.68
0.34
2017
 
40,203,040
1.000
40,203,040
291.1
2.16
0.34
2018
 
41,990,903
1.020
41,148,591
297.9
2.35
0.34
2019
 
43,961,708
1.035
42,469,746
307.5
3.21
0.34
2020
 
45,796,137
1.046
43,767,513
316.9
3.06
0.35
2021
 
50,319,031
1.090
46,163,825
334.3
5.48
0.35
2022
 
54,138,243
1.160
46,653,605
337.8
1.06
0.36
Source: Calculations by the Maine Regional Economic Analysis Project (ME-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_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 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 Maine Regional Economic Analysis Project (ME-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

Please stay tuned...
while your request is processing:

Please wait while your request is being processed...
To offer the most comprehensive set of interactive options in support of your research, ME-REAP calculates and crunches most of the data and generates the narrative and graphic analysis on demand in response to your request.
Your request will soon be available.
Just a few more seconds....Your request has been generated and is now loading the results.