The U.S. Bureau of Economic Analysis (BEA) recently released statistics on personal income by county and metropolitan area for the year 2022. According to the BEA, personal income experienced fluctuations across different regions.
In 2022, personal income saw an increase in 1,964 counties, a decrease in 1,107 counties, and remained unchanged in 43 counties. The metropolitan portion of the United States recorded a 2.1 percent increase in personal income, while the nonmetropolitan portion saw a 1.3 percent increase.
The data revealed significant variations in personal income growth within counties. For instance, in metropolitan counties, the percent change ranged from a substantial 19.0 percent increase in Midland County, TX, to a notable decrease of -16.8 percent in Crosby County, TX. In nonmetropolitan counties, the range was even wider, with a growth of 53.6 percent in Towner County, ND, and a decline of -33.6 percent in Issaquena County, MS.
Per capita personal income also showed differing trends, with a 1.7 percent increase in the metropolitan portion and a 1.2 percent increase in the nonmetropolitan portion of the United States in 2022. These figures represent a decrease from the previous year.
The county-level estimates released by the BEA provide a detailed look at personal income across the nation for 2022. These data offer valuable insights into the economic landscape of different regions.
The statistics for 2022 incorporate the results of BEA’s comprehensive update of personal income by county and metropolitan area. This update, which includes revised data from 1979 to 2021, is based on new and more detailed source data, providing a comprehensive view of personal income trends.
The BEA's release of new estimates and the upcoming release of real personal income for states and metropolitan areas will further contribute to understanding economic dynamics. The next release of personal income data is scheduled for November 14, 2024.
For more information and detailed data tables, interested parties can access the full release and additional materials on the BEA's website.