Love County vs. Oklahoma
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Love County vs. Oklahoma
Love County:
2022 Earnings = $345,763K
2022 Percent of State = 0.23%
Oklahoma:
2022 Earnings = $149,830,740K
2022 Percent of U.S. = 0.99%
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.
Love County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Love County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Love 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 Love County over time.
When measured in current dollars, Love County's total industry earnings increased 3,462.00%, from $10M in 1970 to $346M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 506.73%, from $49M in 1970 to $298M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks Love County's and Oklahoma'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, Love County's real total industry earnings rose from $50M in 1969 to $298M in 2022, for a net gain of $248M, or 501.37%. In comparison, Oklahoma's real total industry earnings advanced from $35,353M in 1969 to $129,117M in 2022, for a net advance of $93,763M, or 265.22%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Love County's real total industry earnings growth in a broader context by offering direct comparisons across time with Oklahoma, 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.
Love County's overall real total industry earnings growth was 501.37% over 1969-2022 outpaced Oklahoma's increase of 265.22%, and outpaced the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the Oklahoma Total: 1969-2022
Total Industry Earnings as a Percent of the Oklahoma Total: 1969-2022
Figure 4.
Another interesting and insightful way of contrasting the total industry earnings growth of Love County is to trace its individual percentage contributions to Oklahoma'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 Oklahoma's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Love County's total industry earnings comprised 0.14% of Oklahoma's total industry earnings, while in 2022 it comprised 0.23% thereby yielding a +0.09% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
+0.09%
=
0.23%
-
0.14%
 
   
Love County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Love County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Love 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 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, Love County's real total industry earnings grew at an annual rate of 3.76% over 1970-2022. The county recorded its highest growth in 2001 (20.26%) and posted its lowest growth in 1993 (-13.02%). In 2022, Love County's real total industry earnings declined by -4.91%
Love County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Love 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 traces the annual percent change in Love County's real total industry earnings 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, Love County's annual real total industry earnings growth rate averaged 3.92%. It averaged 1.57% throughout the 1980s, 1.22% in the 1990s, 9.05% throughout the 2000s, 4.77% during the 2010s, -1.95% 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 Love County noted in the previous graph with the corresponding decade averages for Oklahoma and the nation. As the chart reveals, Love County's average annual real total industry earnings growth amounted to less than Oklahoma's average during the 1970s (3.92% vs. 4.79%), recorded above Oklahoma's average in the 1980s (1.57% vs. 0.77%), posted below Oklahoma's average during the 1990s (1.22% vs. 2.36%), recorded above Oklahoma's average during the 2000s (9.05% vs. 3.15%), outperformed Oklahoma's average throughout the 2010s (4.77% vs. 2.12%), and amounted to less than Oklahoma's average over the 3 year period of the current decade, 2020-2022 (-1.95% vs. 1.00%).
Finally, relative to nationwide real total industry earnings growth trends, Love County surpassed the nation throughout the 1970s (3.92% vs. 3.13%), fell below the nation during the 1980s (1.57% vs. 2.62%), lagged the nation throughout the 1990s (1.22% vs. 3.43%), recorded above the nation throughout the 2000s (9.05% vs. 1.47%), recorded above the nation during the 2010s (4.77% vs. 2.53%), and posted below the nation over 2020-2022 (-1.95% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
3.76
3.92
1.57
1.22
9.05
4.77
-1.95
-4.91
 
2.54
4.79
0.77
2.36
3.15
2.12
1.00
1.08
 
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.

   
 
Love County:
Total Industry Earnings, 1969-2022
 
1969
 
9,356
0.189
49,547
100.0
N
0.14
1970
 
9,707
0.198
49,110
99.1
-0.88
0.13
1971
 
11,493
0.206
55,778
112.6
13.58
0.15
1972
 
11,724
0.213
55,022
111.0
-1.36
0.14
1973
 
14,493
0.225
64,542
130.3
17.30
0.15
1974
 
14,230
0.248
57,395
115.8
-11.07
0.13
1975
 
16,531
0.269
61,545
124.2
7.23
0.14
1976
 
19,048
0.283
67,229
135.7
9.24
0.14
1977
 
18,414
0.302
61,022
123.2
-9.23
0.12
1978
 
19,914
0.323
61,699
124.5
1.11
0.12
1979
 
24,557
0.351
69,877
141.0
13.26
0.12
1980
 
27,977
0.389
71,869
145.1
2.85
0.12
1981
 
30,711
0.424
72,406
146.1
0.75
0.12
1982
 
35,026
0.448
78,234
157.9
8.05
0.12
1983
 
35,530
0.467
76,120
153.6
-2.70
0.13
1984
 
35,376
0.484
73,032
147.4
-4.06
0.12
1985
 
35,961
0.501
71,738
144.8
-1.77
0.12
1986
 
40,771
0.512
79,601
160.7
10.96
0.13
1987
 
39,075
0.528
74,003
149.4
-7.03
0.13
1988
 
45,345
0.549
82,648
166.8
11.68
0.14
1989
 
45,895
0.573
80,151
161.8
-3.02
0.13
1990
 
53,631
0.598
89,721
181.1
11.94
0.15
1991
 
58,364
0.618
94,480
190.7
5.30
0.15
1992
 
68,606
0.634
108,177
218.3
14.50
0.17
1993
 
61,157
0.650
94,088
189.9
-13.02
0.15
1994
 
58,151
0.664
87,635
176.9
-6.86
0.13
1995
 
52,645
0.678
77,700
156.8
-11.34
0.12
1996
 
52,329
0.692
75,617
152.6
-2.68
0.11
1997
 
57,390
0.704
81,512
164.5
7.80
0.11
1998
 
54,395
0.710
76,648
154.7
-5.97
0.10
1999
 
62,125
0.720
86,284
174.1
12.57
0.11
2000
 
67,172
0.738
90,992
183.6
5.46
0.11
2001
 
82,399
0.753
109,425
220.8
20.26
0.13
2002
 
97,132
0.763
127,318
257.0
16.35
0.15
2003
 
100,660
0.779
129,227
260.8
1.50
0.15
2004
 
96,218
0.798
120,533
243.3
-6.73
0.13
2005
 
110,962
0.821
135,110
272.7
12.09
0.14
2006
 
130,178
0.844
154,166
311.2
14.10
0.15
2007
 
147,630
0.866
170,460
344.0
10.57
0.16
2008
 
166,576
0.892
186,807
377.0
9.59
0.17
2009
 
178,276
0.889
200,488
404.6
7.32
0.20
2010
 
196,888
0.905
217,522
439.0
8.50
0.21
2011
 
204,416
0.928
220,266
444.6
1.26
0.20
2012
 
214,661
0.945
227,073
458.3
3.09
0.20
2013
 
230,032
0.958
240,165
484.7
5.77
0.19
2014
 
263,413
0.971
271,221
547.4
12.93
0.21
2015
 
288,287
0.973
296,290
598.0
9.24
0.24
2016
 
305,993
0.983
311,336
628.4
5.08
0.27
2017
 
313,039
1.000
313,039
631.8
0.55
0.27
2018
 
323,712
1.020
317,219
640.2
1.34
0.26
2019
 
328,058
1.035
316,924
639.6
-0.09
0.25
2020
 
345,076
1.046
329,790
665.6
4.06
0.27
2021
 
341,555
1.090
313,350
632.4
-4.98
0.25
2022
 
345,763
1.160
297,961
601.4
-4.91
0.23
Source: Calculations by the Oklahoma Regional Economic Analysis Project (OK-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.

   
 
Oklahoma:
Total Industry Earnings, 1969-2022
 
1969
 
6,675,751
0.189
35,353,233
100.0
N
1.02
1970
 
7,255,716
0.198
36,708,064
103.8
3.83
1.05
1971
 
7,819,033
0.206
37,947,260
107.3
3.38
1.05
1972
 
8,663,553
0.213
40,658,687
115.0
7.15
1.06
1973
 
9,875,429
0.225
43,978,753
124.4
8.17
1.07
1974
 
10,830,775
0.248
43,684,810
123.6
-0.67
1.09
1975
 
11,888,966
0.269
44,262,718
125.2
1.32
1.12
1976
 
13,147,572
0.283
46,403,741
131.3
4.84
1.12
1977
 
14,772,784
0.302
48,955,408
138.5
5.50
1.13
1978
 
16,912,837
0.323
52,400,660
148.2
7.04
1.15
1979
 
19,762,035
0.351
56,233,204
159.1
7.31
1.20
1980
 
22,413,295
0.389
57,576,282
162.9
2.39
1.26
1981
 
25,951,715
0.424
61,185,229
173.1
6.27
1.32
1982
 
28,508,561
0.448
63,676,400
180.1
4.07
1.39
1983
 
28,356,848
0.467
60,752,524
171.8
-4.59
1.30
1984
 
30,350,650
0.484
62,657,466
177.2
3.14
1.25
1985
 
31,208,018
0.501
62,256,659
176.1
-0.64
1.19
1986
 
31,360,225
0.512
61,227,718
173.2
-1.65
1.13
1987
 
31,245,274
0.528
59,174,414
167.4
-3.35
1.04
1988
 
32,714,576
0.549
59,627,405
168.7
0.77
1.00
1989
 
34,579,523
0.573
60,389,310
170.8
1.28
1.00
1990
 
36,596,599
0.598
61,223,921
173.2
1.38
0.99
1991
 
37,738,444
0.618
61,091,145
172.8
-0.22
1.00
1992
 
40,174,828
0.634
63,347,253
179.2
3.69
0.99
1993
 
41,982,343
0.650
64,588,220
182.7
1.96
0.99
1994
 
43,564,779
0.664
65,653,112
185.7
1.65
0.98
1995
 
44,703,852
0.678
65,979,650
186.6
0.50
0.96
1996
 
47,376,661
0.692
68,460,415
193.6
3.76
0.96
1997
 
50,613,032
0.704
71,886,364
203.3
5.00
0.96
1998
 
53,397,021
0.710
75,242,043
212.8
4.67
0.94
1999
 
54,842,686
0.720
76,169,339
215.5
1.23
0.90
2000
 
59,043,757
0.738
79,981,248
226.2
5.00
0.89
2001
 
62,898,658
0.753
83,528,536
236.3
4.44
0.92
2002
 
64,595,080
0.763
84,669,332
239.5
1.37
0.92
2003
 
67,873,856
0.779
87,136,180
246.5
2.91
0.94
2004
 
74,070,349
0.798
92,788,592
262.5
6.49
0.97
2005
 
81,196,886
0.821
98,867,469
279.7
6.55
1.01
2006
 
89,608,909
0.844
106,121,399
300.2
7.34
1.05
2007
 
90,447,715
0.866
104,434,647
295.4
-1.59
1.02
2008
 
100,686,422
0.892
112,915,131
319.4
8.12
1.12
2009
 
91,235,975
0.889
102,603,406
290.2
-9.13
1.05
2010
 
95,686,094
0.905
105,714,137
299.0
3.03
1.06
2011
 
102,575,598
0.928
110,529,285
312.6
4.55
1.09
2012
 
109,779,401
0.945
116,126,897
328.5
5.06
1.11
2013
 
119,225,033
0.958
124,476,705
352.1
7.19
1.17
2014
 
126,219,487
0.971
129,961,066
367.6
4.41
1.19
2015
 
121,344,594
0.973
124,713,095
352.8
-4.04
1.10
2016
 
112,809,063
0.983
114,778,665
324.7
-7.97
1.00
2017
 
117,714,834
1.000
117,714,834
333.0
2.56
0.99
2018
 
123,927,674
1.020
121,441,761
343.5
3.17
1.00
2019
 
129,823,368
1.035
125,417,453
354.8
3.27
1.00
2020
 
128,950,605
1.046
123,238,501
348.6
-1.74
0.98
2021
 
139,236,538
1.090
127,738,771
361.3
3.65
0.98
2022
 
149,830,740
1.160
129,116,569
365.2
1.08
0.99
Source: Calculations by the Oklahoma Regional Economic Analysis Project (OK-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 Oklahoma Regional Economic Analysis Project (OK-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PN
 
   
Copyright © 2024. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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