Toole County vs. Montana
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Toole County vs. Montana
Toole County:
2022 Earnings = $214,171K
2022 Percent of State = 0.50%
Montana:
2022 Earnings = $42,527,835K
2022 Percent of U.S. = 0.28%
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.
Toole County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Toole County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Toole 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 Toole County over time.
When measured in current dollars, Toole County's total industry earnings increased 823.51%, from $23M in 1970 to $214M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 57.30%, from $117M in 1970 to $185M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Toole County's and Montana'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, Toole County's real total industry earnings rose from $98M in 1969 to $185M in 2022, for a net gain of $86M, or 87.79%. In comparison, Montana's real total industry earnings advanced from $9,924M in 1969 to $36,648M in 2022, for a net advance of $26,724M, or 269.30%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Toole County's real total industry earnings growth in a broader context by offering direct comparisons across time with Montana, 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.
Toole County's overall real total industry earnings growth was 87.79% over 1969-2022 trailed Montana's increase of 269.30%, and fell below the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the Montana Total: 1969-2022
Total Industry Earnings as a Percent of the Montana Total: 1969-2022
Figure 4.
Another interesting and insightful way of contrasting the total industry earnings growth of Toole County is to compare its individual percentage contributions to Montana'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 Montana's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Toole County's total industry earnings comprised 0.99% of Montana's total industry earnings, while in 2022 it equated to 0.50% thereby yielding a -0.49% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.49%
=
0.50%
-
0.99%
 
   
Toole County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Toole County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Toole 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 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, Toole County's real total industry earnings grew at an annual rate of 2.12% over 1970-2022. The county recorded its highest growth in 1978 (35.25%) and posted its lowest growth in 1977 (-24.98%). In 2022, Toole County's real total industry earnings grew by 22.77%
Toole County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Toole 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 shows the annual percent change in Toole 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, Toole County's annual real total industry earnings growth rate averaged 2.82%. It averaged 0.97% throughout the 1980s, 1.23% during the 1990s, 3.51% in the 2000s, 2.17% during the 2010s, 1.82% 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 Toole County noted in the previous graph with the corresponding decade averages for Montana and the nation. As the chart reveals, Toole County's average annual real total industry earnings growth recorded under Montana's average in the 1970s (2.82% vs. 3.68%), recorded above Montana's average throughout the 1980s (0.97% vs. -0.01%), fell below Montana's average throughout the 1990s (1.23% vs. 3.09%), topped Montana's average throughout the 2000s (3.51% vs. 3.01%), recorded under Montana's average throughout the 2010s (2.17% vs. 2.42%), and lagged Montana's average over the 3 year period of the current decade, 2020-2022 (1.82% vs. 4.55%).
Finally, relative to nationwide real total industry earnings growth trends, Toole County posted below the nation throughout the 1970s (2.82% vs. 3.13%), lagged the nation during the 1980s (0.97% vs. 2.62%), fell under the nation throughout the 1990s (1.23% vs. 3.43%), outperformed the nation in the 2000s (3.51% vs. 1.47%), fell under the nation over the 2010s (2.17% vs. 2.53%), and outperformed the nation over 2020-2022 (1.82% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
2.12
2.82
0.97
1.23
3.51
2.17
1.82
22.77
 
2.56
3.68
-0.01
3.09
3.01
2.42
4.55
3.62
 
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.

   
 
Toole County:
Total Industry Earnings, 1969-2022
 
1969
 
18,558
0.189
98,279
100.0
N
0.99
1970
 
23,191
0.198
117,328
119.4
19.38
1.13
1971
 
22,518
0.206
109,284
111.2
-6.86
1.04
1972
 
27,347
0.213
128,341
130.6
17.44
1.07
1973
 
27,786
0.225
123,741
125.9
-3.58
0.93
1974
 
29,301
0.248
118,183
120.3
-4.49
0.92
1975
 
39,752
0.269
147,997
150.6
25.23
1.17
1976
 
38,167
0.283
134,709
137.1
-8.98
1.05
1977
 
30,495
0.302
101,057
102.8
-24.98
0.78
1978
 
44,115
0.323
136,681
139.1
35.25
0.95
1979
 
38,329
0.351
109,066
111.0
-20.20
0.78
1980
 
43,376
0.389
111,426
113.4
2.16
0.83
1981
 
50,069
0.424
118,046
120.1
5.94
0.86
1982
 
42,447
0.448
94,809
96.5
-19.68
0.72
1983
 
46,434
0.467
99,482
101.2
4.93
0.75
1984
 
40,745
0.484
84,116
85.6
-15.45
0.63
1985
 
36,178
0.501
72,171
73.4
-14.20
0.56
1986
 
46,099
0.512
90,004
91.6
24.71
0.68
1987
 
49,953
0.528
94,604
96.3
5.11
0.71
1988
 
42,956
0.549
78,294
79.7
-17.24
0.59
1989
 
59,836
0.573
104,497
106.3
33.47
0.75
1990
 
65,300
0.598
109,243
111.2
4.54
0.77
1991
 
70,655
0.618
114,377
116.4
4.70
0.77
1992
 
64,987
0.634
102,471
104.3
-10.41
0.66
1993
 
84,058
0.650
129,320
131.6
26.20
0.78
1994
 
72,148
0.664
108,729
110.6
-15.92
0.65
1995
 
80,157
0.678
118,306
120.4
8.81
0.71
1996
 
79,964
0.692
115,550
117.6
-2.33
0.68
1997
 
77,068
0.704
109,461
111.4
-5.27
0.63
1998
 
75,309
0.710
106,118
108.0
-3.05
0.58
1999
 
80,287
0.720
111,508
113.5
5.08
0.59
2000
 
79,370
0.738
107,515
109.4
-3.58
0.56
2001
 
81,522
0.753
108,260
110.2
0.69
0.55
2002
 
93,003
0.763
121,906
124.0
12.60
0.60
2003
 
100,690
0.779
129,265
131.5
6.04
0.61
2004
 
109,110
0.798
136,683
139.1
5.74
0.60
2005
 
116,753
0.821
142,162
144.7
4.01
0.60
2006
 
122,011
0.844
144,494
147.0
1.64
0.58
2007
 
122,052
0.866
140,926
143.4
-2.47
0.55
2008
 
148,498
0.892
166,534
169.5
18.17
0.65
2009
 
136,662
0.889
153,689
156.4
-7.71
0.61
2010
 
140,823
0.905
155,581
158.3
1.23
0.60
2011
 
164,564
0.928
177,324
180.4
13.98
0.66
2012
 
181,884
0.945
192,401
195.8
8.50
0.69
2013
 
179,268
0.958
187,164
190.4
-2.72
0.66
2014
 
161,298
0.971
166,079
169.0
-11.27
0.58
2015
 
149,978
0.973
154,141
156.8
-7.19
0.52
2016
 
147,385
0.983
149,958
152.6
-2.71
0.51
2017
 
145,389
1.000
145,389
147.9
-3.05
0.48
2018
 
178,092
1.020
174,520
177.6
20.04
0.57
2019
 
189,550
1.035
183,117
186.3
4.93
0.57
2020
 
197,181
1.046
188,447
191.7
2.91
0.56
2021
 
163,861
1.090
150,330
153.0
-20.23
0.43
2022
 
214,171
1.160
184,562
187.8
22.77
0.50
Source: Calculations by the Montana Regional Economic Analysis Project (MT-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.

   
 
Montana:
Total Industry Earnings, 1969-2022
 
1969
 
1,873,921
0.189
9,923,852
100.0
N
0.29
1970
 
2,045,607
0.198
10,349,120
104.3
4.29
0.30
1971
 
2,169,624
0.206
10,529,600
106.1
1.74
0.29
1972
 
2,557,335
0.213
12,001,760
120.9
13.98
0.31
1973
 
2,979,658
0.225
13,269,463
133.7
10.56
0.32
1974
 
3,170,700
0.248
12,788,690
128.9
-3.62
0.32
1975
 
3,409,995
0.269
12,695,439
127.9
-0.73
0.32
1976
 
3,644,033
0.283
12,861,444
129.6
1.31
0.31
1977
 
3,909,661
0.302
12,956,194
130.6
0.74
0.30
1978
 
4,664,031
0.323
14,450,462
145.6
11.53
0.32
1979
 
4,924,780
0.351
14,013,545
141.2
-3.02
0.30
1980
 
5,227,899
0.389
13,429,662
135.3
-4.17
0.29
1981
 
5,788,716
0.424
13,647,804
137.5
1.62
0.30
1982
 
5,885,709
0.448
13,146,253
132.5
-3.67
0.29
1983
 
6,165,828
0.467
13,209,847
133.1
0.48
0.28
1984
 
6,435,926
0.484
13,286,662
133.9
0.58
0.26
1985
 
6,440,756
0.501
12,848,620
129.5
-3.30
0.25
1986
 
6,767,052
0.512
13,211,996
133.1
2.83
0.24
1987
 
7,030,218
0.528
13,314,302
134.2
0.77
0.23
1988
 
7,258,317
0.549
13,229,412
133.3
-0.64
0.22
1989
 
7,984,527
0.573
13,944,093
140.5
5.40
0.23
1990
 
8,428,822
0.598
14,100,915
142.1
1.12
0.23
1991
 
9,178,614
0.618
14,858,377
149.7
5.37
0.24
1992
 
9,827,016
0.634
15,495,137
156.1
4.29
0.24
1993
 
10,820,733
0.650
16,647,282
167.8
7.44
0.26
1994
 
11,023,628
0.664
16,612,858
167.4
-0.21
0.25
1995
 
11,347,490
0.678
16,748,074
168.8
0.81
0.24
1996
 
11,805,788
0.692
17,059,648
171.9
1.86
0.24
1997
 
12,202,186
0.704
17,330,927
174.6
1.59
0.23
1998
 
13,071,043
0.710
18,418,480
185.6
6.28
0.23
1999
 
13,569,468
0.720
18,846,222
189.9
2.32
0.22
2000
 
14,256,331
0.738
19,311,765
194.6
2.47
0.22
2001
 
14,822,813
0.753
19,684,488
198.4
1.93
0.22
2002
 
15,505,266
0.763
20,323,847
204.8
3.25
0.22
2003
 
16,611,443
0.779
21,325,703
214.9
4.93
0.23
2004
 
18,097,136
0.798
22,670,445
228.4
6.31
0.24
2005
 
19,611,354
0.821
23,879,302
240.6
5.33
0.24
2006
 
20,887,711
0.844
24,736,749
249.3
3.59
0.25
2007
 
22,294,972
0.866
25,742,691
259.4
4.07
0.25
2008
 
22,995,278
0.892
25,788,133
259.9
0.18
0.26
2009
 
22,481,428
0.889
25,282,473
254.8
-1.96
0.26
2010
 
23,519,609
0.905
25,984,499
261.8
2.78
0.26
2011
 
24,929,846
0.928
26,862,900
270.7
3.38
0.26
2012
 
26,193,394
0.945
27,707,908
279.2
3.15
0.27
2013
 
27,020,998
0.958
28,211,230
284.3
1.82
0.27
2014
 
27,759,327
0.971
28,582,209
288.0
1.32
0.26
2015
 
28,826,078
0.973
29,626,284
298.5
3.65
0.26
2016
 
28,957,362
0.983
29,462,946
296.9
-0.55
0.26
2017
 
30,089,438
1.000
30,089,438
303.2
2.13
0.25
2018
 
31,440,622
1.020
30,809,942
310.5
2.39
0.25
2019
 
33,203,436
1.035
32,076,586
323.2
4.11
0.26
2020
 
34,984,223
1.046
33,434,532
336.9
4.23
0.27
2021
 
38,551,834
1.090
35,368,331
356.4
5.78
0.27
2022
 
42,527,835
1.160
36,648,342
369.3
3.62
0.28
Source: Calculations by the Montana Regional Economic Analysis Project (MT-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 Montana Regional Economic Analysis Project (MT-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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