Understanding Growth and Change Among the Major Components of Personal Income: Earned Income, Property Income and Transfer Payments, 1969-2008. Unless there is a sound understanding of the make-up of local personal income, and an awareness of how each components has grown or declined in relative importance over time, one can not gauge or appreciate the underlying character or complexion of growth and change of the local economy. This web page is for monitoring and analyzing the changing composition of local area personal income.