Otero County vs. New Mexico
Comparative Trends Analysis:
Per Capita Personal Income Growth and Change, 1969-2022
Introduction
Otero County vs. New Mexico
Otero County:
2022 PCI = $41,853
2022 Percent of State = 80.19%
New Mexico:
2022 PCI = $52,194
Per Capita Income (PCI) is one of the most widely used indicators for gauging the economic performance and changing fortunes of local economies. It is used as a yardstick to assess the economic well being of a region's residents and the quality of consumer markets. It serves as a barometer for calibrating the economic performance of a region over time and to judge differences in relative economic prosperity between regions. Shifting trends in local per capita income growth have important social and political ramifications and significant implications in formulating local economic development strategies and initiatives.
Data Definition:
This measure of income is calculated as the total personal income of the residents of an area divided by the population of the area. Per capita personal income is often used as an indicator of consumers' purchasing power and of the economic well-being of the residents of an area.
Personal income is measured as a flow throughout the year, while the measurement of population is at one point in mid-year. Therefore, per capita income is distorted if a significant change in population occurs during the year.
For smaller counties in particular, per capita income in any given year may be exceptionally high or low for the short run because of unusual local conditions, such as a bumper crop, a catastrophe, or a major construction project as the building of a dam or nuclear power plant.
Farm incomes are notorious for being especially volatile year-to-year, owing to changing weather, commodity market conditions, and alterations in government programs. Therefore, the per capita income of farm-dependent counties may exhibit sharp fluctuations over time.
The presence of large institutional populations--such as residents attending a local college or the residents of a local prison or state mental institution--can significantly lower the per capita income estimates of an area. Such results may not reflect the relative economic well being of the non-institutional population and may mislead if care is not given to their interpretation.
Otero County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Otero County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Otero County's annual per capita 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 Otero County over time.
When measured in current dollars, Otero County's per capita personal income increased 920.78%, from $4,100 in 1970 to $41,853 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 73.87%, from $20,743 in 1970 to $36,067 in 2022.
Real Per Capita Personal Income, 1969-2022
Real Per Capita Personal Income, 1969-2022
Figure 2.
Figure 2 tracks Otero County's and New Mexico's annual real per capita personal income for the period 1969-2022 to illustrate real per capita personal income patterns over time. During this 54-year period, Otero County's real per capita personal income rose from $19,791 in 1969 to $36,067 in 2022, for a net gain of $16,275, or 82.23%. In comparison, New Mexico's real per capita personal income advanced from $16,467 in 1969 to $44,978 in 2022, for a net advance of $28,511, or 173.14%.
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Otero County's real per capita personal income growth in a broader context by offering direct comparisons across time with New Mexico, the United States. The growth indices shown here express each region's real per capita personal income in 1969 as a base figure of 100, and the real per capita personal incomes in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real per capita personal income growth between regions that may differ vastly in size.
Otero County's overall real per capita personal income growth was 82.23% over 1969-2022 trailed New Mexico's increase of 173.14%, and fell below the United States' increase of 171.04%.
Per Capita Personal Income as a Percent of the U.S. Average: 1969-2022
Per Capita Personal Income as a Percent of the U.S. Average: 1969-2022
Figure 4.
Figure 4 displays the trends for per capita personal income relative to the national average by tracing Otero County and New Mexico per capita personal income as a percent of the national average over 1969-2022.
In 1969, Otero County's per capita personal income amounted to 95.08% of the national average; in 2022, it approximated 63.93%. Similarly, in 1969, New Mexico's per capita personal income totaled 79.11% of the national average; in 2022, it consisted of 79.72%.
Otero County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Otero County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Otero County's real per capita 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, Otero County's real per capita personal income grew at an annual rate of 1.19% over 1970-2022. The county recorded its highest growth in 2020 (9.55%) and posted its lowest growth in 2022 (-6.35%). In 2022, Otero County's real per capita personal income declined by -6.35%
Otero County Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Otero County Real Per Capita Personal Income:
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 Otero County's real per capita 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, Otero County's annual real per capita personal income growth rate averaged 2.01%. It averaged 0.07% in the 1980s, -0.03% during the 1990s, 3.26% in the 2000s, 0.29% throughout the 2010s, 2.28% thus far this decade (2020-2022).
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Otero County noted in the previous graph with the corresponding decade averages for New Mexico and the nation. As the chart reveals, Otero County's average annual real per capita personal income growth fell below New Mexico's average during the 1970s (2.01% vs. 3.15%), lagged New Mexico's average in the 1980s (0.07% vs. 1.25%), amounted to less than New Mexico's average during the 1990s (-0.03% vs. 1.67%), recorded above New Mexico's average during the 2000s (3.26% vs. 2.17%), lagged New Mexico's average during the 2010s (0.29% vs. 1.23%), and lagged New Mexico's average over the 3 year period of the current decade, 2020-2022 (2.28% vs. 2.65%).
Finally, relative to nationwide real per capita personal income growth trends, Otero County trailed the nation over the 1970s (2.01% vs. 2.37%), recorded underneath the nation throughout the 1980s (0.07% vs. 2.19%), fell below the nation throughout the 1990s (-0.03% vs. 2.01%), led the nation throughout the 2000s (3.26% vs. 1.10%), fell below the nation during the 2010s (0.29% vs. 1.97%), and led the nation over 2020-2022 (2.28% vs. 1.78%).
   
 
Real* Per Capita Personal Income Growth:
Average Annual Percent Change
 
 
 
1.19
2.01
0.07
-0.03
3.26
0.29
2.28
-6.35
 
1.94
3.15
1.25
1.67
2.17
1.23
2.65
-4.13
 
1.92
2.37
2.19
2.01
1.10
1.97
1.78
-4.55
 
   

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

   
 
Otero County:
Per Capita Personal Income, 1969-2022
 
1969
 
3,737
0.189
19,791
100.0
N
120.19
95.08
1970
 
4,100
0.198
20,743
104.8
4.81
119.87
97.67
1971
 
4,195
0.206
20,361
102.9
-1.84
114.11
93.84
1972
 
4,604
0.213
21,607
109.2
6.12
113.99
94.79
1973
 
5,188
0.225
23,103
116.7
6.93
117.34
96.73
1974
 
5,568
0.248
22,459
113.5
-2.78
114.63
95.42
1975
 
6,160
0.269
22,934
115.9
2.11
114.27
97.41
1976
 
6,674
0.283
23,555
119.0
2.71
114.16
97.07
1977
 
7,318
0.302
24,251
122.5
2.95
114.66
97.37
1978
 
7,760
0.323
24,043
121.5
-0.86
108.57
92.87
1979
 
8,448
0.351
24,038
121.5
-0.02
107.24
91.50
1980
 
9,305
0.389
23,902
120.8
-0.57
107.58
91.37
1981
 
10,093
0.424
23,796
120.2
-0.44
105.18
89.39
1982
 
11,326
0.448
25,297
127.8
6.30
110.25
94.46
1983
 
11,891
0.467
25,476
128.7
0.71
109.90
93.62
1984
 
12,427
0.484
25,655
129.6
0.70
107.02
89.47
1985
 
13,060
0.501
26,053
131.6
1.55
105.46
88.56
1986
 
13,337
0.512
26,038
131.6
-0.06
105.38
86.14
1987
 
13,529
0.528
25,622
129.5
-1.60
103.99
83.37
1988
 
13,719
0.549
25,005
126.3
-2.41
100.32
78.66
1989
 
13,813
0.573
24,123
121.9
-3.53
95.17
74.03
1990
 
14,417
0.598
24,119
121.9
-0.02
94.18
73.49
1991
 
14,831
0.618
24,008
121.3
-0.46
92.44
73.97
1992
 
15,435
0.634
24,338
123.0
1.37
91.96
73.23
1993
 
15,663
0.650
24,097
121.8
-0.99
89.02
72.14
1994
 
15,580
0.664
23,480
118.6
-2.56
85.30
69.09
1995
 
16,156
0.678
23,845
120.5
1.55
84.18
68.52
1996
 
16,268
0.692
23,508
118.8
-1.41
82.24
65.79
1997
 
16,405
0.704
23,301
117.7
-0.88
79.99
63.28
1998
 
16,899
0.710
23,812
120.3
2.19
79.27
61.47
1999
 
17,304
0.720
24,034
121.4
0.93
80.40
60.52
2000
 
18,104
0.738
24,524
123.9
2.04
78.65
59.26
2001
 
19,280
0.753
25,603
129.4
4.40
78.55
61.11
2002
 
20,991
0.763
27,515
139.0
7.47
83.18
66.01
2003
 
21,814
0.779
28,004
141.5
1.78
83.55
66.79
2004
 
22,815
0.798
28,581
144.4
2.06
83.37
66.74
2005
 
23,898
0.821
29,099
147.0
1.81
83.14
67.00
2006
 
25,407
0.844
30,089
152.0
3.40
83.49
67.14
2007
 
26,693
0.866
30,821
155.7
2.43
83.99
67.43
2008
 
28,104
0.892
31,518
159.3
2.26
83.76
68.79
2009
 
29,413
0.889
33,077
167.1
4.95
89.40
74.83
2010
 
31,474
0.905
34,773
175.7
5.13
93.51
77.61
2011
 
31,979
0.928
34,459
174.1
-0.90
91.19
74.98
2012
 
31,760
0.945
33,596
169.8
-2.50
88.98
71.79
2013
 
30,598
0.958
31,945
161.4
-4.91
87.78
68.91
2014
 
31,617
0.971
32,554
164.5
1.91
85.73
68.31
2015
 
32,587
0.973
33,491
169.2
2.88
86.32
67.80
2016
 
33,105
0.983
33,683
170.2
0.57
86.04
67.60
2017
 
33,240
1.000
33,240
168.0
-1.31
84.80
65.17
2018
 
34,474
1.020
33,783
170.7
1.63
84.13
64.67
2019
 
35,108
1.035
33,917
171.4
0.40
81.29
63.20
2020
 
38,876
1.046
37,154
187.7
9.55
83.37
65.72
2021
 
41,977
1.090
38,511
194.6
3.65
82.08
65.15
2022
 
41,853
1.160
36,067
182.2
-6.35
80.19
63.93
Source: Calculations by the New Mexico Regional Economic Analysis Project (NM-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_PSN
 
   

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

   
 
New Mexico:
Per Capita Personal Income, 1969-2022
 
1969
 
3,109
0.189
16,467
100.0
N
79.11
1970
 
3,420
0.198
17,304
105.1
5.09
81.48
1971
 
3,677
0.206
17,843
108.4
3.11
82.24
1972
 
4,039
0.213
18,956
115.1
6.23
83.16
1973
 
4,421
0.225
19,688
119.6
3.87
82.44
1974
 
4,858
0.248
19,594
119.0
-0.48
83.25
1975
 
5,391
0.269
20,070
121.9
2.43
85.25
1976
 
5,846
0.283
20,635
125.3
2.81
85.04
1977
 
6,382
0.302
21,150
128.4
2.50
84.92
1978
 
7,148
0.323
22,145
134.5
4.71
85.54
1979
 
7,877
0.351
22,415
136.1
1.22
85.32
1980
 
8,649
0.389
22,217
134.9
-0.88
84.93
1981
 
9,597
0.424
22,625
137.4
1.84
84.99
1982
 
10,273
0.448
22,946
139.3
1.42
85.68
1983
 
10,820
0.467
23,181
140.8
1.02
85.19
1984
 
11,612
0.484
23,973
145.6
3.42
83.61
1985
 
12,384
0.501
24,704
150.0
3.05
83.98
1986
 
12,656
0.512
24,709
150.1
0.02
81.75
1987
 
13,010
0.528
24,640
149.6
-0.28
80.17
1988
 
13,675
0.549
24,924
151.4
1.16
78.40
1989
 
14,514
0.573
25,347
153.9
1.69
77.79
1990
 
15,308
0.598
25,609
155.5
1.04
78.03
1991
 
16,044
0.618
25,972
157.7
1.42
80.02
1992
 
16,784
0.634
26,465
160.7
1.90
79.63
1993
 
17,595
0.650
27,069
164.4
2.28
81.03
1994
 
18,265
0.664
27,525
167.2
1.68
80.99
1995
 
19,191
0.678
28,325
172.0
2.91
81.40
1996
 
19,782
0.692
28,586
173.6
0.92
80.01
1997
 
20,509
0.704
29,129
176.9
1.90
79.11
1998
 
21,318
0.710
30,039
182.4
3.13
77.54
1999
 
21,523
0.720
29,892
181.5
-0.49
75.27
2000
 
23,019
0.738
31,182
189.4
4.31
75.35
2001
 
24,545
0.753
32,595
197.9
4.53
77.80
2002
 
25,237
0.763
33,079
200.9
1.48
79.36
2003
 
26,108
0.779
33,517
203.5
1.32
79.94
2004
 
27,366
0.798
34,282
208.2
2.28
80.06
2005
 
28,744
0.821
34,999
212.5
2.09
80.58
2006
 
30,433
0.844
36,041
218.9
2.98
80.42
2007
 
31,780
0.866
36,694
222.8
1.81
80.28
2008
 
33,552
0.892
37,627
228.5
2.54
82.13
2009
 
32,901
0.889
37,000
224.7
-1.67
83.70
2010
 
33,658
0.905
37,185
225.8
0.50
82.99
2011
 
35,069
0.928
37,788
229.5
1.62
82.23
2012
 
35,695
0.945
37,758
229.3
-0.08
80.69
2013
 
34,858
0.958
36,393
221.0
-3.62
78.51
2014
 
36,880
0.971
37,974
230.6
4.34
79.68
2015
 
37,753
0.973
38,801
235.6
2.18
78.55
2016
 
38,475
0.983
39,146
237.7
0.89
78.57
2017
 
39,197
1.000
39,197
238.0
0.13
76.85
2018
 
40,977
1.020
40,155
243.9
2.45
76.87
2019
 
43,191
1.035
41,725
253.4
3.91
77.76
2020
 
46,631
1.046
44,566
270.6
6.81
78.83
2021
 
51,141
1.090
46,918
284.9
5.28
79.37
2022
 
52,194
1.160
44,978
273.1
-4.13
79.72
Source: Calculations by the New Mexico Regional Economic Analysis Project (NM-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_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:
Per Capita Personal Income, 1969-2022
 
1969
 
3,931
0.189
20,816
100.0
N
1970
 
4,198
0.198
21,238
102.0
2.03
1971
 
4,471
0.206
21,697
104.2
2.16
1972
 
4,857
0.213
22,793
109.5
5.05
1973
 
5,363
0.225
23,883
114.7
4.78
1974
 
5,836
0.248
23,537
113.1
-1.45
1975
 
6,324
0.269
23,544
113.1
0.03
1976
 
6,875
0.283
24,265
116.6
3.07
1977
 
7,516
0.302
24,906
119.6
2.64
1978
 
8,356
0.323
25,889
124.4
3.95
1979
 
9,232
0.351
26,271
126.2
1.47
1980
 
10,184
0.389
26,160
125.7
-0.42
1981
 
11,291
0.424
26,621
127.9
1.76
1982
 
11,990
0.448
26,781
128.7
0.60
1983
 
12,701
0.467
27,210
130.7
1.61
1984
 
13,889
0.484
28,674
137.7
5.38
1985
 
14,746
0.501
29,417
141.3
2.59
1986
 
15,482
0.512
30,227
145.2
2.75
1987
 
16,228
0.528
30,733
147.6
1.67
1988
 
17,442
0.549
31,790
152.7
3.44
1989
 
18,658
0.573
32,584
156.5
2.50
1990
 
19,619
0.598
32,821
157.7
0.73
1991
 
20,050
0.618
32,457
155.9
-1.11
1992
 
21,077
0.634
33,234
159.7
2.39
1993
 
21,713
0.650
33,405
160.5
0.51
1994
 
22,552
0.664
33,986
163.3
1.74
1995
 
23,577
0.678
34,798
167.2
2.39
1996
 
24,725
0.692
35,729
171.6
2.67
1997
 
25,925
0.704
36,822
176.9
3.06
1998
 
27,493
0.710
38,740
186.1
5.21
1999
 
28,592
0.720
39,711
190.8
2.51
2000
 
30,551
0.738
41,384
198.8
4.21
2001
 
31,548
0.753
41,895
201.3
1.23
2002
 
31,801
0.763
41,684
200.2
-0.50
2003
 
32,659
0.779
41,928
201.4
0.59
2004
 
34,183
0.798
42,821
205.7
2.13
2005
 
35,669
0.821
43,432
208.6
1.43
2006
 
37,843
0.844
44,816
215.3
3.19
2007
 
39,588
0.866
45,710
219.6
1.99
2008
 
40,854
0.892
45,816
220.1
0.23
2009
 
39,307
0.889
44,204
212.4
-3.52
2010
 
40,557
0.905
44,808
215.3
1.36
2011
 
42,649
0.928
45,956
220.8
2.56
2012
 
44,237
0.945
46,795
224.8
1.83
2013
 
44,401
0.958
46,357
222.7
-0.94
2014
 
46,287
0.971
47,659
229.0
2.81
2015
 
48,060
0.973
49,394
237.3
3.64
2016
 
48,971
0.983
49,826
239.4
0.88
2017
 
51,004
1.000
51,004
245.0
2.36
2018
 
53,309
1.020
52,240
251.0
2.42
2019
 
55,547
1.035
53,662
257.8
2.72
2020
 
59,153
1.046
56,533
271.6
5.35
2021
 
64,430
1.090
59,110
284.0
4.56
2022
 
65,470
1.160
56,419
271.0
-4.55
Source: Calculations by the New Mexico Regional Economic Analysis Project (NM-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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