Curry County vs. New Mexico
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Curry County vs. New Mexico
Curry County:
2022 TPI = $2,551,319K
2022 Percent of State = 2.31%
New Mexico:
2022 TPI = $110,303,006K
2022 Percent of U.S. = 0.51%
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 Curry County and New Mexico 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.
Curry County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Curry County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Curry County'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 Curry County over time.
When measured in current dollars, Curry County's total personal income increased 1,381.53%, from $172M in 1970 to $2,551M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 152.35%, from $871M in 1970 to $2,199M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Curry County's and New Mexico'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, Curry County's real total personal income rose from $743M in 1969 to $2,199M in 2022, for a net gain of $1,455M, or 195.76%. In comparison, New Mexico's real total personal income increased from $16,648M in 1969 to $95,054M in 2022, for a net advance of $78,405M, or 470.96%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Curry County's real total 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 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.
Curry County's overall real total personal income growth was 195.76% over 1969-2022 trailed New Mexico's increase of 470.96%, and fell below the United States' increase of 348.76%.
Total Personal Income as a Percent of the New Mexico Total: 1969-2022
Total Personal Income as a Percent of the New Mexico Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total personal income growth of Curry County is to trace its individual percentage contributions to New Mexico'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 New Mexico's total personal income, while a declining share shows it grew more slowly.
In 1969, Curry County's total personal income comprised 4.47% of New Mexico's total personal income, while in 2022 it equated to 2.31% thereby yielding a -2.15% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-2.15%
=
2.31%
-
4.47%
 
   
Curry County Real Total Personal Income:
Annual Percent Change, 1970-2022
Curry County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Curry County'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 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, Curry County's real total personal income grew at an annual rate of 2.16% over 1970-2022. The county recorded its highest growth in 1970 (17.20%) and posted its lowest growth in 1974 (-6.53%). In 2022, Curry County's real total personal income declined by -2.65%
Curry County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Curry County Real Total 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 depicts the annual percent change in Curry County's real total personal income 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, Curry County's annual real total personal income growth rate averaged 3.54%. It averaged 0.35% in the 1980s, 2.11% throughout the 1990s, 3.23% in the 2000s, 1.61% throughout the 2010s, 2.02% 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 Curry County noted in the previous graph with the corresponding decade averages for New Mexico and the nation. As the chart reveals, Curry County's average annual real total personal income growth recorded under New Mexico's average throughout the 1970s (3.54% vs. 5.61%), trailed New Mexico's average in the 1980s (0.35% vs. 2.89%), amounted to less than New Mexico's average in the 1990s (2.11% vs. 3.56%), amounted to less than New Mexico's average throughout the 2000s (3.23% vs. 3.39%), outperformed New Mexico's average throughout the 2010s (1.61% vs. 1.59%), and amounted to less than New Mexico's average over the 3 year period of the current decade, 2020-2022 (2.02% vs. 2.71%).
Finally, relative to nationwide real total personal income growth trends, Curry County exceeded the nation throughout the 1970s (3.54% vs. 3.50%), lagged the nation over the 1980s (0.35% vs. 3.16%), lagged the nation over the 1990s (2.11% vs. 3.27%), led the nation throughout the 2000s (3.23% vs. 2.06%), fell under the nation during the 2010s (1.61% vs. 2.72%), and fell below the nation over 2020-2022 (2.02% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
2.16
3.54
0.35
2.11
3.23
1.61
2.02
-2.65
 
3.37
5.61
2.89
3.56
3.39
1.59
2.71
-4.29
 
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.

   
 
Curry County:
Total Personal Income, 1969-2022
 
1969
 
140,373
0.189
743,383
100.0
N
4.47
1970
 
172,208
0.198
871,233
117.2
17.20
4.92
1971
 
175,880
0.206
853,579
114.8
-2.03
4.54
1972
 
192,993
0.213
905,730
121.8
6.11
4.43
1973
 
230,349
0.225
1,025,825
138.0
13.26
4.72
1974
 
237,730
0.248
958,859
129.0
-6.53
4.33
1975
 
265,853
0.269
989,773
133.1
3.22
4.24
1976
 
263,995
0.283
931,758
125.3
-5.86
3.78
1977
 
285,881
0.302
947,379
127.4
1.68
3.66
1978
 
322,449
0.323
999,036
134.4
5.45
3.60
1979
 
361,315
0.351
1,028,128
138.3
2.91
3.58
1980
 
393,596
0.389
1,011,087
136.0
-1.66
3.48
1981
 
407,922
0.424
961,740
129.4
-4.88
3.19
1982
 
445,536
0.448
995,144
133.9
3.47
3.18
1983
 
483,801
0.467
1,036,509
139.4
4.16
3.21
1984
 
509,567
0.484
1,051,977
141.5
1.49
3.10
1985
 
550,064
0.501
1,097,319
147.6
4.31
3.09
1986
 
557,264
0.512
1,088,002
146.4
-0.85
3.01
1987
 
568,083
0.528
1,075,874
144.7
-1.11
2.95
1988
 
586,180
0.549
1,068,404
143.7
-0.69
2.88
1989
 
607,225
0.573
1,060,451
142.7
-0.74
2.78
1990
 
643,817
0.598
1,077,067
144.9
1.57
2.76
1991
 
711,268
0.618
1,151,404
154.9
6.90
2.85
1992
 
760,103
0.634
1,198,523
161.2
4.09
2.84
1993
 
800,725
0.650
1,231,885
165.7
2.78
2.78
1994
 
830,419
0.664
1,251,460
168.3
1.59
2.70
1995
 
875,160
0.678
1,291,673
173.8
3.21
2.65
1996
 
897,187
0.692
1,296,457
174.4
0.37
2.59
1997
 
925,142
0.704
1,313,992
176.8
1.35
2.54
1998
 
920,780
0.710
1,297,476
174.5
-1.26
2.41
1999
 
939,186
0.720
1,304,407
175.5
0.53
2.41
2000
 
954,930
0.738
1,293,557
174.0
-0.83
2.28
2001
 
1,057,008
0.753
1,403,692
188.8
8.51
2.35
2002
 
1,104,640
0.763
1,447,930
194.8
3.15
2.36
2003
 
1,161,129
0.779
1,490,653
200.5
2.95
2.37
2004
 
1,267,696
0.798
1,588,054
213.6
6.53
2.43
2005
 
1,328,237
0.821
1,617,296
217.6
1.84
2.39
2006
 
1,367,685
0.844
1,619,712
217.9
0.15
2.29
2007
 
1,475,425
0.866
1,703,586
229.2
5.18
2.33
2008
 
1,580,433
0.892
1,772,382
238.4
4.04
2.34
2009
 
1,587,888
0.889
1,785,729
240.2
0.75
2.37
2010
 
1,819,334
0.905
2,010,003
270.4
12.56
2.62
2011
 
1,941,682
0.928
2,092,240
281.4
4.09
2.66
2012
 
2,025,000
0.945
2,142,086
288.2
2.38
2.71
2013
 
1,988,929
0.958
2,076,538
279.3
-3.06
2.72
2014
 
2,075,202
0.971
2,136,718
287.4
2.90
2.69
2015
 
1,991,621
0.973
2,046,908
275.4
-4.20
2.52
2016
 
2,023,581
0.983
2,058,912
277.0
0.59
2.50
2017
 
2,059,356
1.000
2,059,356
277.0
0.02
2.50
2018
 
2,057,288
1.020
2,016,020
271.2
-2.10
2.39
2019
 
2,148,710
1.035
2,075,788
279.2
2.96
2.36
2020
 
2,339,337
1.046
2,235,712
300.7
7.70
2.37
2021
 
2,461,687
1.090
2,258,408
303.8
1.02
2.27
2022
 
2,551,319
1.160
2,198,598
295.8
-2.65
2.31
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_300_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 Personal Income, 1969-2022
 
1969
 
3,143,665
0.189
16,648,123
100.0
N
0.40
1970
 
3,499,776
0.198
17,706,041
106.4
6.35
0.41
1971
 
3,872,418
0.206
18,793,584
112.9
6.14
0.42
1972
 
4,353,346
0.213
20,430,571
122.7
8.71
0.43
1973
 
4,881,806
0.225
21,740,396
130.6
6.41
0.43
1974
 
5,487,270
0.248
22,132,336
132.9
1.80
0.44
1975
 
6,267,941
0.269
23,335,596
140.2
5.44
0.46
1976
 
6,987,390
0.283
24,661,667
148.1
5.68
0.47
1977
 
7,819,801
0.302
25,913,975
155.7
5.08
0.47
1978
 
8,947,791
0.323
27,722,738
166.5
6.98
0.48
1979
 
10,087,343
0.351
28,703,705
172.4
3.54
0.49
1980
 
11,324,718
0.389
29,091,446
174.7
1.35
0.49
1981
 
12,789,759
0.424
30,153,858
181.1
3.65
0.49
1982
 
14,010,585
0.448
31,293,884
188.0
3.78
0.50
1983
 
15,086,657
0.467
32,322,086
194.1
3.29
0.51
1984
 
16,451,119
0.484
33,962,549
204.0
5.08
0.50
1985
 
17,812,041
0.501
35,533,117
213.4
4.62
0.51
1986
 
18,512,048
0.512
36,142,931
217.1
1.72
0.50
1987
 
19,235,758
0.528
36,429,980
218.8
0.79
0.49
1988
 
20,380,071
0.549
37,145,851
223.1
1.97
0.48
1989
 
21,827,331
0.573
38,119,018
229.0
2.62
0.47
1990
 
23,292,213
0.598
38,966,479
234.1
2.22
0.48
1991
 
24,953,527
0.618
40,394,870
242.6
3.67
0.49
1992
 
26,778,266
0.634
42,223,693
253.6
4.53
0.50
1993
 
28,793,303
0.650
44,297,389
266.1
4.91
0.51
1994
 
30,728,194
0.664
46,308,087
278.2
4.54
0.52
1995
 
33,016,851
0.678
48,730,482
292.7
5.23
0.53
1996
 
34,664,741
0.692
50,091,385
300.9
2.79
0.52
1997
 
36,399,458
0.704
51,698,635
310.5
3.21
0.51
1998
 
38,233,130
0.710
53,874,519
323.6
4.21
0.50
1999
 
38,915,058
0.720
54,047,941
324.6
0.32
0.49
2000
 
41,922,251
0.738
56,788,289
341.1
5.07
0.49
2001
 
44,958,829
0.753
59,704,694
358.6
5.14
0.50
2002
 
46,821,719
0.763
61,372,533
368.6
2.79
0.51
2003
 
49,019,748
0.779
62,931,353
378.0
2.54
0.52
2004
 
52,099,668
0.798
65,265,722
392.0
3.71
0.52
2005
 
55,540,781
0.821
67,627,919
406.2
3.62
0.53
2006
 
59,713,746
0.844
70,717,369
424.8
4.57
0.53
2007
 
63,243,626
0.866
73,023,689
438.6
3.26
0.53
2008
 
67,462,380
0.892
75,655,916
454.4
3.60
0.54
2009
 
67,011,812
0.889
75,361,064
452.7
-0.39
0.56
2010
 
69,499,817
0.905
76,783,500
461.2
1.89
0.55
2011
 
73,017,732
0.928
78,679,510
472.6
2.47
0.55
2012
 
74,610,808
0.945
78,924,840
474.1
0.31
0.54
2013
 
73,079,820
0.958
76,298,869
458.3
-3.33
0.52
2014
 
77,265,995
0.971
79,556,424
477.9
4.27
0.52
2015
 
79,130,787
0.973
81,327,441
488.5
2.23
0.51
2016
 
80,782,293
0.983
82,192,720
493.7
1.06
0.51
2017
 
82,354,111
1.000
82,354,111
494.7
0.20
0.49
2018
 
86,179,472
1.020
84,450,765
507.3
2.55
0.49
2019
 
91,139,619
1.035
88,046,544
528.9
4.26
0.50
2020
 
98,783,205
1.046
94,407,421
567.1
7.22
0.50
2021
 
108,248,253
1.090
99,309,413
596.5
5.19
0.51
2022
 
110,303,006
1.160
95,053,563
571.0
-4.29
0.51
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_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 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_300_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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