Quay County vs. New Mexico
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Quay County vs. New Mexico
Quay County:
2022 Earnings = $194,709K
2022 Percent of State = 0.28%
New Mexico:
2022 Earnings = $68,326,314K
2022 Percent of U.S. = 0.45%
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.
Quay County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Quay County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Quay 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 Quay County over time.
When measured in current dollars, Quay County's total industry earnings increased 724.65%, from $24M in 1970 to $195M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 40.47%, from $119M in 1970 to $168M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Quay County's and New Mexico'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, Quay County's real total industry earnings rose from $101M in 1969 to $168M in 2022, for a net gain of $67M, or 66.19%. In comparison, New Mexico's real total industry earnings increased from $13,576M in 1969 to $58,880M in 2022, for a net advance of $45,305M, or 333.72%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Quay County's real total industry earnings 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 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.
Quay County's overall real total industry earnings growth was 66.19% over 1969-2022 trailed New Mexico's increase of 333.72%, and fell below the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the New Mexico Total: 1969-2022
Total Industry Earnings as a Percent of the New Mexico Total: 1969-2022
Figure 4.
Another interesting and insightful way of comparing the total industry earnings growth of Quay County is to compare its individual percentage contributions to New Mexico'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 New Mexico's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Quay County's total industry earnings comprised 0.74% of New Mexico's total industry earnings, while in 2022 it equated to 0.28% thereby yielding a -0.46% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.46%
=
0.28%
-
0.74%
 
   
Quay County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Quay County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Quay 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, Quay County's real total industry earnings grew at an annual rate of 1.24% over 1970-2022. The county posted its highest growth in 1970 (18.31%) and posted its lowest growth in 1981 (-22.74%). In 2022, Quay County's real total industry earnings grew by 8.34%
Quay County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Quay 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 Quay 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, Quay County's annual real total industry earnings growth rate averaged 4.28%. It averaged 2.65% in the 1980s, -0.53% during the 1990s, -1.00% in the 2000s, 0.62% in the 2010s, 1.75% 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 Quay County noted in the previous graph with the corresponding decade averages for New Mexico and the nation. As the chart reveals, Quay County's average annual real total industry earnings growth posted below New Mexico's average in the 1970s (4.28% vs. 5.15%), registered above New Mexico's average throughout the 1980s (2.65% vs. 1.98%), recorded under New Mexico's average throughout the 1990s (-0.53% vs. 3.60%), fell below New Mexico's average during the 2000s (-1.00% vs. 2.86%), amounted to less than New Mexico's average during the 2010s (0.62% vs. 1.10%), and led New Mexico's average over the 3 year period of the current decade, 2020-2022 (1.75% vs. 1.05%).
Finally, relative to nationwide real total industry earnings growth trends, Quay County outpaced the nation over the 1970s (4.28% vs. 3.13%), recorded above the nation throughout the 1980s (2.65% vs. 2.62%), trailed the nation over the 1990s (-0.53% vs. 3.43%), trailed the nation throughout the 2000s (-1.00% vs. 1.47%), fell under the nation throughout the 2010s (0.62% vs. 2.53%), and exceeded the nation over 2020-2022 (1.75% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
1.24
4.28
2.65
-0.53
-1.00
0.62
1.75
8.34
 
2.83
5.15
1.98
3.60
2.86
1.10
1.05
1.21
 
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.

   
 
Quay County:
Total Industry Earnings, 1969-2022
 
1969
 
19,065
0.189
100,964
100.0
N
0.74
1970
 
23,611
0.198
119,453
118.3
18.31
0.85
1971
 
23,508
0.206
114,089
113.0
-4.49
0.77
1972
 
27,278
0.213
128,018
126.8
12.21
0.79
1973
 
32,491
0.225
144,694
143.3
13.03
0.84
1974
 
32,314
0.248
130,335
129.1
-9.92
0.76
1975
 
36,021
0.269
134,106
132.8
2.89
0.75
1976
 
34,820
0.283
122,896
121.7
-8.36
0.65
1977
 
38,573
0.302
127,827
126.6
4.01
0.63
1978
 
44,858
0.323
138,983
137.7
8.73
0.64
1979
 
51,976
0.351
147,899
146.5
6.42
0.66
1980
 
53,917
0.389
138,504
137.2
-6.35
0.63
1981
 
45,390
0.424
107,014
106.0
-22.74
0.47
1982
 
49,557
0.448
110,690
109.6
3.43
0.49
1983
 
58,970
0.467
126,339
125.1
14.14
0.54
1984
 
69,746
0.484
143,987
142.6
13.97
0.59
1985
 
78,403
0.501
156,406
154.9
8.62
0.61
1986
 
76,954
0.512
150,245
148.8
-3.94
0.58
1987
 
85,135
0.528
161,234
159.7
7.31
0.62
1988
 
91,307
0.549
166,421
164.8
3.22
0.62
1989
 
103,676
0.573
181,059
179.3
8.80
0.67
1990
 
99,233
0.598
166,011
164.4
-8.31
0.59
1991
 
106,201
0.618
171,919
170.3
3.56
0.59
1992
 
109,995
0.634
173,439
171.8
0.88
0.57
1993
 
114,225
0.650
175,731
174.1
1.32
0.55
1994
 
107,085
0.664
161,380
159.8
-8.17
0.48
1995
 
102,978
0.678
151,988
150.5
-5.82
0.44
1996
 
102,861
0.692
148,637
147.2
-2.21
0.42
1997
 
114,783
0.704
163,028
161.5
9.68
0.45
1998
 
112,532
0.710
158,569
157.1
-2.73
0.42
1999
 
121,634
0.720
168,934
167.3
6.54
0.44
2000
 
120,028
0.738
162,591
161.0
-3.75
0.40
2001
 
121,772
0.753
161,712
160.2
-0.54
0.38
2002
 
115,581
0.763
151,500
150.1
-6.31
0.34
2003
 
119,957
0.779
154,000
152.5
1.65
0.34
2004
 
127,774
0.798
160,064
158.5
3.94
0.34
2005
 
140,435
0.821
170,997
169.4
6.83
0.35
2006
 
145,056
0.844
171,786
170.1
0.46
0.34
2007
 
139,289
0.866
160,829
159.3
-6.38
0.31
2008
 
137,664
0.892
154,384
152.9
-4.01
0.30
2009
 
134,751
0.889
151,540
150.1
-1.84
0.30
2010
 
139,158
0.905
153,742
152.3
1.45
0.29
2011
 
139,330
0.928
150,134
148.7
-2.35
0.28
2012
 
133,130
0.945
140,828
139.5
-6.20
0.27
2013
 
143,878
0.958
150,216
148.8
6.67
0.29
2014
 
151,069
0.971
155,547
154.1
3.55
0.30
2015
 
141,737
0.973
145,672
144.3
-6.35
0.27
2016
 
148,475
0.983
151,067
149.6
3.70
0.28
2017
 
151,983
1.000
151,983
150.5
0.61
0.28
2018
 
159,603
1.020
156,401
154.9
2.91
0.29
2019
 
165,397
1.035
159,784
158.3
2.16
0.28
2020
 
165,042
1.046
157,731
156.2
-1.28
0.28
2021
 
168,809
1.090
154,869
153.4
-1.81
0.27
2022
 
194,709
1.160
167,790
166.2
8.34
0.28
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_1200_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:
Total Industry Earnings, 1969-2022
 
1969
 
2,563,492
0.189
13,575,661
100.0
N
0.39
1970
 
2,783,763
0.198
14,083,593
103.7
3.74
0.40
1971
 
3,055,474
0.206
14,828,799
109.2
5.29
0.41
1972
 
3,439,241
0.213
16,140,609
118.9
8.85
0.42
1973
 
3,853,342
0.225
17,160,285
126.4
6.32
0.42
1974
 
4,266,255
0.248
17,207,498
126.8
0.28
0.43
1975
 
4,803,079
0.269
17,881,902
131.7
3.92
0.45
1976
 
5,378,513
0.283
18,983,210
139.8
6.16
0.46
1977
 
6,076,453
0.302
20,136,708
148.3
6.08
0.47
1978
 
6,980,390
0.323
21,627,184
159.3
7.40
0.47
1979
 
7,862,380
0.351
22,372,535
164.8
3.45
0.48
1980
 
8,598,121
0.389
22,087,241
162.7
-1.28
0.48
1981
 
9,590,454
0.424
22,610,996
166.6
2.37
0.49
1982
 
10,210,113
0.448
22,805,193
168.0
0.86
0.50
1983
 
10,856,410
0.467
23,259,084
171.3
1.99
0.50
1984
 
11,866,810
0.484
24,498,462
180.5
5.33
0.49
1985
 
12,766,408
0.501
25,467,619
187.6
3.96
0.49
1986
 
13,156,086
0.512
25,685,949
189.2
0.86
0.47
1987
 
13,745,759
0.528
26,032,648
191.8
1.35
0.46
1988
 
14,615,784
0.549
26,639,541
196.2
2.33
0.45
1989
 
15,562,577
0.573
27,178,319
200.2
2.02
0.45
1990
 
16,756,022
0.598
28,031,823
206.5
3.14
0.46
1991
 
17,960,578
0.618
29,074,656
214.2
3.72
0.47
1992
 
19,359,012
0.634
30,525,090
224.9
4.99
0.48
1993
 
20,903,388
0.650
32,159,058
236.9
5.35
0.49
1994
 
22,218,422
0.664
33,483,667
246.6
4.12
0.50
1995
 
23,600,085
0.678
34,832,017
256.6
4.03
0.50
1996
 
24,385,746
0.692
35,237,990
259.6
1.17
0.49
1997
 
25,712,672
0.704
36,520,051
269.0
3.64
0.49
1998
 
26,996,098
0.710
38,040,354
280.2
4.16
0.47
1999
 
27,861,583
0.720
38,696,106
285.0
1.72
0.46
2000
 
30,228,667
0.738
40,948,047
301.6
5.82
0.46
2001
 
32,290,566
0.753
42,881,419
315.9
4.72
0.47
2002
 
33,811,686
0.763
44,319,364
326.5
3.35
0.48
2003
 
35,541,653
0.779
45,628,229
336.1
2.95
0.49
2004
 
37,913,182
0.798
47,494,184
349.8
4.09
0.49
2005
 
40,200,758
0.821
48,949,503
360.6
3.06
0.50
2006
 
42,877,457
0.844
50,778,608
374.0
3.74
0.50
2007
 
44,754,205
0.866
51,675,044
380.6
1.77
0.50
2008
 
46,533,030
0.892
52,184,625
384.4
0.99
0.52
2009
 
45,539,547
0.889
51,213,490
377.2
-1.86
0.52
2010
 
47,187,995
0.905
52,133,366
384.0
1.80
0.52
2011
 
48,953,466
0.928
52,749,306
388.6
1.18
0.52
2012
 
49,494,603
0.945
52,356,404
385.7
-0.74
0.50
2013
 
49,239,915
0.958
51,408,855
378.7
-1.81
0.48
2014
 
50,946,041
0.971
52,456,257
386.4
2.04
0.48
2015
 
51,650,430
0.973
53,084,235
391.0
1.20
0.47
2016
 
52,282,013
0.983
53,194,836
391.8
0.21
0.46
2017
 
53,468,032
1.000
53,468,032
393.9
0.51
0.45
2018
 
55,878,712
1.020
54,757,819
403.4
2.41
0.45
2019
 
59,089,492
1.035
57,084,127
420.5
4.25
0.45
2020
 
59,205,827
1.046
56,583,196
416.8
-0.88
0.45
2021
 
63,415,413
1.090
58,178,744
428.6
2.82
0.44
2022
 
68,326,314
1.160
58,880,169
433.7
1.21
0.45
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_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 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_1200_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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