Torrance County vs. New Mexico | Total Personal Income Trends over 1969-2022

Introduction

Torrance County:

2022 TPI = $667,837K

2022 Percent of State = 0.61%

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 Torrance 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.

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

Torrance County:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Statewide Total
1969	12,314	0.189	65,212	100.0	N	0.39
1970	13,961	0.198	70,631	108.3	8.31	0.40
1971	15,371	0.206	74,598	114.4	5.62	0.40
1972	19,115	0.213	89,708	137.6	20.25	0.44
1973	21,425	0.225	95,413	146.3	6.36	0.44
1974	22,385	0.248	90,288	138.5	-5.37	0.41
1975	26,872	0.269	100,045	153.4	10.81	0.43
1976	29,205	0.283	103,078	158.1	3.03	0.42
1977	33,041	0.302	109,494	167.9	6.23	0.42
1978	39,493	0.323	122,360	187.6	11.75	0.44
1979	46,111	0.351	131,210	201.2	7.23	0.46
1980	53,476	0.389	137,372	210.7	4.70	0.47
1981	57,025	0.424	134,445	206.2	-2.13	0.45
1982	61,844	0.448	138,134	211.8	2.74	0.44
1983	69,243	0.467	148,348	227.5	7.39	0.46
1984	79,866	0.484	164,880	252.8	11.14	0.49
1985	87,709	0.501	174,970	268.3	6.12	0.49
1986	93,619	0.512	182,782	280.3	4.46	0.51
1987	97,884	0.528	185,379	284.3	1.42	0.51
1988	107,626	0.549	196,165	300.8	5.82	0.53
1989	115,615	0.573	201,909	309.6	2.93	0.53
1990	122,463	0.598	204,873	314.2	1.47	0.53
1991	130,914	0.618	211,924	325.0	3.44	0.52
1992	143,947	0.634	226,974	348.1	7.10	0.54
1993	161,250	0.650	248,077	380.4	9.30	0.56
1994	183,516	0.664	276,563	424.1	11.48	0.60
1995	201,867	0.678	297,941	456.9	7.73	0.61
1996	227,098	0.692	328,162	503.2	10.14	0.66
1997	250,608	0.704	355,942	545.8	8.47	0.69
1998	266,425	0.710	375,421	575.7	5.47	0.70
1999	279,540	0.720	388,245	595.4	3.42	0.72
2000	303,442	0.738	411,045	630.3	5.87	0.72
2001	334,288	0.753	443,930	680.7	8.00	0.74
2002	335,091	0.763	439,227	673.5	-1.06	0.72
2003	359,337	0.779	461,315	707.4	5.03	0.73
2004	374,435	0.798	469,058	719.3	1.68	0.72
2005	376,281	0.821	458,170	702.6	-2.32	0.68
2006	386,069	0.844	457,211	701.1	-0.21	0.65
2007	396,723	0.866	458,073	702.4	0.19	0.63
2008	411,082	0.892	461,009	706.9	0.64	0.61
2009	399,183	0.889	448,919	688.4	-2.62	0.60
2010	412,545	0.905	455,780	698.9	1.53	0.59
2011	428,520	0.928	461,747	708.1	1.31	0.59
2012	425,883	0.945	450,508	690.8	-2.43	0.57
2013	413,428	0.958	431,639	661.9	-4.19	0.57
2014	448,883	0.971	462,189	708.7	7.08	0.58
2015	460,676	0.973	473,464	726.0	2.44	0.58
2016	460,748	0.983	468,792	718.9	-0.99	0.57
2017	466,216	1.000	466,216	714.9	-0.55	0.57
2018	490,822	1.020	480,976	737.6	3.17	0.57
2019	518,711	1.035	501,107	768.4	4.19	0.57
2020	593,366	1.046	567,082	869.6	13.17	0.60
2021	648,012	1.090	594,501	911.6	4.84	0.60
2022	667,837	1.160	575,508	882.5	-3.19	0.61

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

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 Table Tip: 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


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Nationwide Total
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

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

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 Table Tip: 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


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change
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

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

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

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