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.

Figure 1 depicts the Wrangell City and Borough's annual total industry earnings over 2010-2022 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 the Wrangell City and Borough over time.

When measured in current dollars, the Wrangell City and Borough's total industry earnings increased 7.42%, from $56M in 2010 to $60M in 2022. When measured in constant 2017 dollars to adjust for inflation, it declined -16.21%, from $61M in 2010 to $52M in 2022.

Figure 2 traces the Wrangell City and Borough's and Alaska's annual real total industry earnings for the period 2009-2022 to illustrate real total industry earnings patterns over time. During this 14-year period, the Wrangell City and Borough's real total industry earnings rose from $50M in 2009 to $52M in 2022, for a net gain of $2M, or 3.03%. In comparison, Alaska's real total industry earnings increased from $28,590M in 2009 to $29,753M in 2022, for a net gain of $1,162M, or 4.07%.

Figure 3 shows the Wrangell City and Borough's real total industry earnings growth in a broader context by offering direct comparisons across time with Alaska, the United States. The growth indices shown here express each region's real total industry earnings in 2009 as a base figure of 100, and the real total industry earningss in later years as a percentage of the 2009 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.

The Wrangell City and Borough's overall real total industry earnings growth was 3.03% over 2009-2022 trailed Alaska's increase of 4.07%, and fell below the United States' increase of 34.12%.

Another interesting and insightful way of comparing the total industry earnings growth of the Wrangell City and Borough is to trace its individual percentage contributions to Alaska'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 Alaska's total industry earnings, while a declining share shows it grew more slowly.

In 2009, the Wrangell City and Borough's total industry earnings comprised 0.17% of Alaska's total industry earnings, while in 2022 it comprised 0.17% thereby yielding a 0.00% share-shift.

Figure 5 highlights the short-run pattern of the Wrangell City and Borough's real total industry earnings growth by tracking the year-to-year percent change over 2010-2022. The average annual percent change for the entire 13-year period is also illustrated 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, the Wrangell City and Borough's real total industry earnings grew at an annual rate of 0.51% over 2010-2022. The city/burough rollup recorded its highest growth in 2010 (22.96%) and posted its lowest growth in 2020 (-7.45%). In 2022, the Wrangell City and Borough's real total industry earnings declined by -7.27%

Over the past five decades some city/burough rollups have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 6 again illustrates the annual percent change in the Wrangell City and Borough's real total industry earnings since 2010, but this time they are displayed with average growth rates for the decade of the 2010s, and 2020-2022.

During the 2010s, the Wrangell City and Borough's annual real total industry earnings growth rate averaged 2.17%. It averaged -5.05% thus far this decade (2020-2022).

Figure 7 compares the decade average growth rates for the Wrangell City and Borough noted in the previous graph with the corresponding decade averages for Alaska and the nation. As the chart reveals, the Wrangell City and Borough's average annual real total industry earnings growth topped Alaska's average throughout the 2010s (2.17% vs. 0.82%), and amounted to less than Alaska's average over the 3 year period of the current decade, 2020-2022 (-5.05% vs. -1.31%).

Finally, relative to nationwide real total industry earnings growth trends, the Wrangell City and Borough trailed the nation during the 2010s (2.17% vs. 2.53%), and posted below the nation over 2020-2022 (-5.05% vs. 1.48%).