Skagway Borough vs. Alaska
Comparative Trends Analysis:
Total Personal Income Growth and Change, 2008-2016
Introduction
Skagway Borough:
2016 TPI = $84,839K
2016 Percent of State = 0.2%
Alaska:
2016 TPI = $41,283,275K
2016 Percent of State = 0.3%
The annual total personal incomes (TPI) estimates compiled by the Bureau of Economic Analysis, (BEA) are among the most comprehensive, consistent, comparable and timely measures of economic activity available statewide and at the national levels. Personal income estimates are also the best available local level indicator of general purchasing power, and are therefore central to tracking and comparing county patterns of economic growth and change.
The following graphs highlight trends in the pattern of growth and change in the total personal income of the Skagway Borough and Alaska with comparison to the nation. The data used are those compiled by the Regional Income and Product Divisions of the Bureau of Economic Analysis, U.S. Department of Commerce. The 2009 constant dollar (real) estimates of total personal income reported in the tables and portrayed graphically below are determined using the Chain-Weight Implicit Price Deflator for Personal Consumption.
Data Definition:
Personal Income is the income that is received by all persons from all sources. It is calculated as the sum of wage and salary disbursements, supplements to wages and salaries, proprietors' income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal dividend income, personal interest income, and personal current transfer receipts, less contributions for government social insurance. The personal income of an area is the income that is received by, or on behalf of, all the individuals who live in the area; therefore, the estimates of personal income are presented by the place of residence of the income recipients.
Skagway Borough Total Personal Income, 2008-2016
Current vs. Constant Dollars (Millions)
Skagway Borough Total Personal Income, 2008-2016
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts the Skagway Borough's annual total personal income over 2008-2016 in current and constant (2009) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of the Skagway Borough over time.
When measured in current dollars, the Skagway Borough's total personal income increased 23.9%, from $68M in 2008 to $85M in 2016. When measured in constant 2009 dollars to adjust for inflation, it advanced 11.9%, from $68M in 2008 to $77M in 2016.
Real Total Personal Income, 2008-2016 (Millions)
Real Total Personal Income, 2008-2016 (Millions)
Figure 2.
Figure 2 tracks the Skagway Borough's and Alaska's annual real total personal income for the period 2008-2016 to illustrate real total personal income patterns over time. During this 9-year period, the Skagway Borough's real total personal income rose from $68M in 2008 to $77M in 2016, for a net gain of $8M, or 11.9%. In comparison, Alaska's real total personal income increased from $32,833M in 2008 to $37,263M in 2016, for a net advance of $4,430M, or 13.5%.
Real Total Personal Income Indices (2008=100): 2008-2016
Real Total Personal Income Indices (2008=100): 2008-2016
Figure 3.
Figure 3 shows the Skagway Borough's real total personal income 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 personal income in 2008 as a base figure of 100, and the real total personal incomes in later years as a percentage of the 2008 base figure. This method allows for more direct comparison of differences in real total personal income growth between regions that may differ vastly in size.
The Skagway Borough's overall real total personal income growth was 11.9% over 2008-2016 trailed Alaska's increase of 13.5%, and fell below the United States' increase of 15.0%.
Total Personal Income as a Percent of the Alaska Total: 2008-2016
Total Personal Income as a Percent of the Alaska Total: 2008-2016
Figure 4.
Another interesting and insightful way of highlighting the total personal income growth of the Skagway Borough is to compare its individual percentage contributions to Alaska's statewide total personal income over time, as shown in Figure 4. A rising share means a region's total personal income grew faster—or declined less—than Alaska's total personal income, while a declining share shows it grew more slowly.
In 2008, the Skagway Borough's total personal income totaled 0.21% of Alaska's total personal income, while in 2016 it equated to 0.21% thereby yielding a -0.00% share-shift.
   
 
Total Personal Income Share-Shift
2016 vs. 2008
 
Share-
Shift*
 
2016
vs.
2008
-0.00%
=
0.21%
-
0.21%
 
   
Skagway Borough Real Total Personal Income:
Annual Percent Change, 2009-2016
Skagway Borough Real Total Personal Income:
Annual Percent Change, 2009-2016
Figure 5.
Figure 5 highlights the short-run pattern of the Skagway Borough's real total personal income growth by tracking the year-to-year percent change over 2009-2016. The average annual percent change for the entire 8-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, the Skagway Borough's real total personal income grew at an annual rate of 1.53% over 2009-2016. The burough posted its highest growth in 2012 (12.74%) and posted its lowest growth in 2015 (-4.19%). In 2016, the Skagway Borough's real total personal income grew by 3.13%
Skagway Borough Real Total Personal Income:
Annual Percent Change and Decade Averages Over 2009-2016
Skagway Borough Real Total Personal Income:
Annual Percent Change and Decade Averages Over 2009-2016
Figure 6.
Over the past four decades some buroughs 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 the Skagway Borough's real total personal income since 2009, but this time they are overlayed with average growth rates for the decade of the s, and 2010-2016.
During the 2010s, the Skagway Borough's annual real total personal income growth rate averaged 1.92%. It averaged .
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for the Skagway Borough noted in the previous graph with the corresponding decade averages for Alaska and the nation. As the chart reveals, the Skagway Borough's average annual real total personal income growth and outgained Alaska's average over the 7 year period of the last decade, 2010-2016 (1.92% vs. 1.91%).
Finally, relative to nationwide real total personal income growth trends, the Skagway Borough and posted below the nation over 2010-2016 (1.92% vs. 2.52%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
1.53
1.92
3.13
 
1.63
1.91
-2.17
 
1.80
2.52
1.14
 
   
   
 
Skagway Borough:
Total Personal Income, 2008-2016
 
2008
 
68,456
1.001
68,412
100.0
N
0.21
2009
 
67,584
1.000
67,584
98.8
-1.21
0.21
2010
 
69,646
1.017
68,513
100.1
1.38
0.20
2011
 
73,507
1.041
70,579
103.2
3.01
0.20
2012
 
84,444
1.061
79,573
116.3
12.74
0.22
2013
 
83,967
1.075
78,086
114.1
-1.87
0.22
2014
 
84,593
1.092
77,497
113.3
-0.75
0.21
2015
 
81,289
1.095
74,249
108.5
-4.19
0.19
2016
 
84,839
1.108
76,577
111.9
3.13
0.21
Source: Calculations by the Alaska Regional Economic Analysis Project (AK-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2017
REAP_PI_CA1400_300_PSN
 
   
   
 
Alaska:
Total Personal Income, 2008-2016
 
2008
 
32,853,999
1.001
32,832,658
100.0
7.18
0.26
2009
 
32,731,783
1.000
32,731,783
99.7
-0.31
0.27
2010
 
34,711,427
1.017
34,146,977
104.0
4.32
0.28
2011
 
37,151,409
1.041
35,671,403
108.6
4.46
0.28
2012
 
38,490,699
1.061
36,270,577
110.5
1.68
0.28
2013
 
37,916,014
1.075
35,260,215
107.4
-2.79
0.27
2014
 
40,242,478
1.092
36,866,603
112.3
4.56
0.27
2015
 
41,701,086
1.095
38,089,793
116.0
3.32
0.27
2016
 
41,283,275
1.108
37,262,973
113.5
-2.17
0.26
Source: Calculations by the Alaska Regional Economic Analysis Project (AK-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2017
REAP_PI_CA1400_300_PSN
 
   
   
 
United States:
Total Personal Income, 2008-2016
 
2008
 
12,492,705,000
1.001
12,484,590,016
100.0
1.06
2009
 
12,079,444,000
1.000
12,079,444,000
96.8
-3.25
2010
 
12,459,613,000
1.017
12,257,004,712
98.2
1.47
2011
 
13,233,436,000
1.041
12,706,253,541
101.8
3.67
2012
 
13,904,485,000
1.061
13,102,482,072
104.9
3.12
2013
 
14,068,960,000
1.075
13,083,510,025
104.8
-0.14
2014
 
14,811,388,000
1.092
13,568,885,184
108.7
3.71
2015
 
15,547,661,000
1.095
14,201,241,311
113.8
4.66
2016
 
15,912,777,000
1.108
14,363,138,037
115.0
1.14
Source: Calculations by the Alaska Regional Economic Analysis Project (AK-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2017
REAP_PI_CA1400_300_PN
 
   
Copyright © 2017. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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