Merrimack County vs. New Hampshire
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Merrimack County vs. New Hampshire
Merrimack County:
2022 Earnings = $8,210,832K
2022 Percent of State = 11.60%
New Hampshire:
2022 Earnings = $70,795,485K
2022 Percent of U.S. = 0.47%
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.
Merrimack County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Merrimack County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Merrimack 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 Merrimack County over time.
When measured in current dollars, Merrimack County's total industry earnings increased 3,321.98%, from $240M in 1970 to $8,211M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 482.88%, from $1,214M in 1970 to $7,076M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Merrimack County's and New Hampshire'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, Merrimack County's real total industry earnings rose from $1,175M in 1969 to $7,076M in 2022, for a net gain of $5,901M, or 502.10%. In comparison, New Hampshire's real total industry earnings increased from $10,717M in 1969 to $61,008M in 2022, for a net gain of $50,291M, or 469.26%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Merrimack County's real total industry earnings growth in a broader context by offering direct comparisons across time with New Hampshire, 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.
Merrimack County's overall real total industry earnings growth was 502.10% over 1969-2022 outpaced New Hampshire's increase of 469.26%, and outpaced the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the New Hampshire Total: 1969-2022
Total Industry Earnings as a Percent of the New Hampshire Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total industry earnings growth of Merrimack County is to compare its individual percentage contributions to New Hampshire'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 New Hampshire's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Merrimack County's total industry earnings comprised 10.97% of New Hampshire's total industry earnings, while in 2022 it equated to 11.60% thereby yielding a +0.63% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
+0.63%
=
11.60%
-
10.97%
 
   
Merrimack County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Merrimack County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of Merrimack 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, Merrimack County's real total industry earnings grew at an annual rate of 3.63% over 1970-2022. The county recorded its highest growth in 2001 (36.63%) and recorded its lowest growth in 2003 (-5.89%). In 2022, Merrimack County's real total industry earnings grew by 3.90%
Merrimack County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Merrimack 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 traces the annual percent change in Merrimack County's real total industry earnings since 1970, but this time they are displayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.
During the 1970s, Merrimack County's annual real total industry earnings growth rate averaged 4.71%. It averaged 5.20% throughout the 1980s, 3.38% during the 1990s, 5.20% during the 2000s, -0.31% throughout the 2010s, 3.57% 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 Merrimack County noted in the previous graph with the corresponding decade averages for New Hampshire and the nation. As the chart reveals, Merrimack County's average annual real total industry earnings growth outgained New Hampshire's average in the 1970s (4.71% vs. 4.40%), recorded under New Hampshire's average in the 1980s (5.20% vs. 5.41%), trailed New Hampshire's average in the 1990s (3.38% vs. 3.50%), registered above New Hampshire's average in the 2000s (5.20% vs. 2.04%), trailed New Hampshire's average in the 2010s (-0.31% vs. 1.86%), and surpassed New Hampshire's average over the 3 year period of the current decade, 2020-2022 (3.57% vs. 2.87%).
Finally, relative to nationwide real total industry earnings growth trends, Merrimack County outgained the nation throughout the 1970s (4.71% vs. 3.13%), surpassed the nation during the 1980s (5.20% vs. 2.62%), posted below the nation in the 1990s (3.38% vs. 3.43%), registered above the nation during the 2000s (5.20% vs. 1.47%), posted below the nation throughout the 2010s (-0.31% vs. 2.53%), and recorded above the nation over 2020-2022 (3.57% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
3.63
4.71
5.20
3.38
5.20
-0.31
3.57
3.90
 
3.41
4.40
5.41
3.50
2.04
1.86
2.87
-2.77
 
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.

   
 
Merrimack County:
Total Industry Earnings, 1969-2022
 
1969
 
221,907
0.189
1,175,168
100.0
N
10.97
1970
 
239,944
0.198
1,213,923
103.3
3.30
11.21
1971
 
264,865
0.206
1,285,440
109.4
5.89
11.53
1972
 
297,634
0.213
1,396,818
118.9
8.66
11.66
1973
 
333,721
0.225
1,486,177
126.5
6.40
11.50
1974
 
368,524
0.248
1,486,403
126.5
0.02
11.78
1975
 
390,860
0.269
1,455,175
123.8
-2.10
11.86
1976
 
442,772
0.283
1,562,743
133.0
7.39
11.66
1977
 
496,609
0.302
1,645,709
140.0
5.31
11.52
1978
 
572,397
0.323
1,773,445
150.9
7.76
11.39
1979
 
651,056
0.351
1,852,591
157.6
4.46
11.33
1980
 
708,424
0.389
1,819,831
154.9
-1.77
11.14
1981
 
772,819
0.424
1,822,042
155.0
0.12
10.98
1982
 
809,592
0.448
1,808,296
153.9
-0.75
10.66
1983
 
903,665
0.467
1,936,038
164.7
7.06
10.61
1984
 
1,032,983
0.484
2,132,544
181.5
10.15
10.74
1985
 
1,160,798
0.501
2,315,668
197.0
8.59
10.76
1986
 
1,335,287
0.512
2,607,015
221.8
12.58
11.01
1987
 
1,530,887
0.528
2,899,297
246.7
11.21
11.17
1988
 
1,668,048
0.549
3,040,277
258.7
4.86
11.03
1989
 
1,739,786
0.573
3,038,344
258.5
-0.06
11.04
1990
 
1,764,227
0.598
2,951,446
251.2
-2.86
11.29
1991
 
1,793,149
0.618
2,902,757
247.0
-1.65
11.49
1992
 
1,914,956
0.634
3,019,483
256.9
4.02
11.45
1993
 
2,045,757
0.650
3,147,318
267.8
4.23
11.71
1994
 
2,199,189
0.664
3,314,228
282.0
5.30
11.81
1995
 
2,305,016
0.678
3,402,037
289.5
2.65
11.67
1996
 
2,433,741
0.692
3,516,814
299.3
3.37
11.55
1997
 
2,593,771
0.704
3,683,968
313.5
4.75
11.36
1998
 
2,805,805
0.710
3,953,676
336.4
7.32
10.97
1999
 
3,036,288
0.720
4,217,008
358.8
6.66
10.97
2000
 
3,360,965
0.738
4,552,796
387.4
7.96
10.80
2001
 
4,684,071
0.753
6,220,381
529.3
36.63
14.16
2002
 
4,875,986
0.763
6,391,299
543.9
2.75
14.36
2003
 
4,685,206
0.779
6,014,848
511.8
-5.89
13.41
2004
 
4,734,941
0.798
5,931,503
504.7
-1.39
12.84
2005
 
4,946,381
0.821
6,022,844
512.5
1.54
12.84
2006
 
5,604,231
0.844
6,636,939
564.8
10.20
13.69
2007
 
5,542,042
0.866
6,399,069
544.5
-3.58
13.35
2008
 
5,528,575
0.892
6,200,039
527.6
-3.11
13.27
2009
 
5,893,501
0.889
6,627,794
564.0
6.90
14.17
2010
 
6,413,885
0.905
7,086,070
603.0
6.91
14.75
2011
 
6,246,551
0.928
6,730,907
572.8
-5.01
14.05
2012
 
6,115,773
0.945
6,469,390
550.5
-3.89
13.55
2013
 
5,839,680
0.958
6,096,909
518.8
-5.76
12.76
2014
 
5,685,701
0.971
5,854,245
498.2
-3.98
11.99
2015
 
5,601,177
0.973
5,756,665
489.9
-1.67
11.44
2016
 
5,785,192
0.983
5,886,199
500.9
2.25
11.43
2017
 
6,052,500
1.000
6,052,500
515.0
2.83
11.48
2018
 
6,331,393
1.020
6,204,389
528.0
2.51
11.46
2019
 
6,592,891
1.035
6,369,143
542.0
2.66
11.33
2020
 
6,867,858
1.046
6,563,634
558.5
3.05
11.36
2021
 
7,423,300
1.090
6,810,304
579.5
3.76
10.85
2022
 
8,210,832
1.160
7,075,681
602.1
3.90
11.60
Source: Calculations by the New Hampshire Regional Economic Analysis Project (NH-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.

   
 
New Hampshire:
Total Industry Earnings, 1969-2022
 
1969
 
2,023,699
0.189
10,717,042
100.0
N
0.31
1970
 
2,141,097
0.198
10,832,222
101.1
1.07
0.31
1971
 
2,297,301
0.206
11,149,240
104.0
2.93
0.31
1972
 
2,552,460
0.213
11,978,881
111.8
7.44
0.31
1973
 
2,903,172
0.225
12,928,844
120.6
7.93
0.32
1974
 
3,127,647
0.248
12,615,041
117.7
-2.43
0.31
1975
 
3,295,119
0.269
12,267,755
114.5
-2.75
0.31
1976
 
3,798,009
0.283
13,404,895
125.1
9.27
0.32
1977
 
4,312,669
0.302
14,291,719
133.4
6.62
0.33
1978
 
5,027,183
0.323
15,575,607
145.3
8.98
0.34
1979
 
5,746,184
0.351
16,350,864
152.6
4.98
0.35
1980
 
6,361,303
0.389
16,341,202
152.5
-0.06
0.36
1981
 
7,040,895
0.424
16,600,012
154.9
1.58
0.36
1982
 
7,592,340
0.448
16,958,165
158.2
2.16
0.37
1983
 
8,513,753
0.467
18,240,108
170.2
7.56
0.39
1984
 
9,614,359
0.484
19,848,385
185.2
8.82
0.40
1985
 
10,788,271
0.501
21,521,447
200.8
8.43
0.41
1986
 
12,123,551
0.512
23,670,027
220.9
9.98
0.44
1987
 
13,705,612
0.528
25,956,615
242.2
9.66
0.46
1988
 
15,125,904
0.549
27,569,314
257.2
6.21
0.46
1989
 
15,752,234
0.573
27,509,534
256.7
-0.22
0.45
1990
 
15,626,453
0.598
26,142,121
243.9
-4.97
0.42
1991
 
15,609,742
0.618
25,269,113
235.8
-3.34
0.41
1992
 
16,728,203
0.634
26,376,857
246.1
4.38
0.41
1993
 
17,467,112
0.650
26,872,480
250.7
1.88
0.41
1994
 
18,622,921
0.664
28,065,165
261.9
4.44
0.42
1995
 
19,748,907
0.678
29,147,957
272.0
3.86
0.42
1996
 
21,079,488
0.692
30,460,367
284.2
4.50
0.43
1997
 
22,839,828
0.704
32,439,712
302.7
6.50
0.43
1998
 
25,574,938
0.710
36,037,789
336.3
11.09
0.45
1999
 
27,671,569
0.720
38,432,201
358.6
6.64
0.45
2000
 
31,110,602
0.738
42,142,724
393.2
9.65
0.47
2001
 
33,074,729
0.753
43,922,776
409.8
4.22
0.48
2002
 
33,957,235
0.763
44,510,145
415.3
1.34
0.49
2003
 
34,927,017
0.779
44,839,162
418.4
0.74
0.48
2004
 
36,877,127
0.798
46,196,308
431.1
3.03
0.48
2005
 
38,532,370
0.821
46,918,029
437.8
1.56
0.48
2006
 
40,948,524
0.844
48,494,225
452.5
3.36
0.48
2007
 
41,521,272
0.866
47,942,166
447.3
-1.14
0.47
2008
 
41,650,608
0.892
46,709,216
435.8
-2.57
0.46
2009
 
41,605,130
0.889
46,788,869
436.6
0.17
0.48
2010
 
43,475,132
0.905
48,031,390
448.2
2.66
0.48
2011
 
44,467,737
0.928
47,915,755
447.1
-0.24
0.47
2012
 
45,136,323
0.945
47,746,126
445.5
-0.35
0.46
2013
 
45,769,911
0.958
47,786,002
445.9
0.08
0.45
2014
 
47,430,428
0.971
48,836,429
455.7
2.20
0.45
2015
 
48,948,915
0.973
50,307,727
469.4
3.01
0.44
2016
 
50,633,351
0.983
51,517,389
480.7
2.40
0.45
2017
 
52,707,762
1.000
52,707,762
491.8
2.31
0.44
2018
 
55,226,178
1.020
54,118,375
505.0
2.68
0.44
2019
 
58,196,245
1.035
56,221,194
524.6
3.89
0.45
2020
 
60,436,883
1.046
57,759,720
539.0
2.74
0.46
2021
 
68,395,604
1.090
62,747,685
585.5
8.64
0.48
2022
 
70,795,485
1.160
61,007,975
569.3
-2.77
0.47
Source: Calculations by the New Hampshire Regional Economic Analysis Project (NH-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 New Hampshire Regional Economic Analysis Project (NH-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PN
 
   
Copyright © 2024. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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