| McKenzie County vs. North Dakota Comparative Trends Analysis: Total Industry Earnings Growth and Change, 1969-2022 Introduction McKenzie County: 2022 Earnings = $1,162,384K 2022 Percent of State = 2.83% North Dakota: 2022 Earnings = $41,039,957K 2022 Percent of U.S. = 0.27% 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. Figure 1 depicts McKenzie 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 McKenzie County over time. When measured in current dollars, McKenzie County's total industry earnings increased 6,371.35%, from $18M in 1970 to $1,162M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 1,002.29%, from $91M in 1970 to $1,002M in 2022. Figure 2. Figure 2 tracks McKenzie County's and North Dakota'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, McKenzie County's real total industry earnings rose from $93M in 1969 to $1,002M in 2022, for a net gain of $908M, or 972.33%. In comparison, North Dakota's real total industry earnings advanced from $8,661M in 1969 to $35,366M in 2022, for a net gain of $26,705M, or 308.33%. Figure 3. Figure 3 shows McKenzie County's real total industry earnings growth in a broader context by offering direct comparisons across time with North Dakota, 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. McKenzie County's overall real total industry earnings growth was 972.33% over 1969-2022 outpaced North Dakota's increase of 308.33%, and outpaced the United States' increase of 278.59%. Figure 4. Another interesting and insightful way of comparing the total industry earnings growth of McKenzie County is to trace its individual percentage contributions to North Dakota'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 North Dakota's total industry earnings, while a declining share shows it grew more slowly. In 1969, McKenzie County's total industry earnings totaled 1.08% of North Dakota's total industry earnings, while in 2022 it totaled 2.83% thereby yielding a +1.75% share-shift. | | | | Total Industry Earnings Share-Shift 2022 vs. 1969 | Share- Shift* | | 2022 | vs. | 1969 | | +1.75% | = | 2.83% | - | 1.08% |
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Figure 5. Figure 5 shows the short-run pattern of McKenzie 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, McKenzie County's real total industry earnings grew at an annual rate of 6.83% over 1970-2022. The county posted its highest growth in 1973 (78.51%) and recorded its lowest growth in 1974 (-32.15%). In 2022, McKenzie County's real total industry earnings grew by 8.71% 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 depicts the annual percent change in McKenzie 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, McKenzie County's annual real total industry earnings growth rate averaged 10.14%. It averaged -3.82% throughout the 1980s, 4.18% in the 1990s, 6.94% throughout the 2000s, 21.04% in the 2010s, -7.57% thus far this decade (2020-2022). Figure 7. Figure 7 compares the decade average growth rates for McKenzie County noted in the previous graph with the corresponding decade averages for North Dakota and the nation. As the chart reveals, McKenzie County's average annual real total industry earnings growth outgained North Dakota's average in the 1970s (10.14% vs. 4.68%), recorded under North Dakota's average throughout the 1980s (-3.82% vs. 0.07%), topped North Dakota's average in the 1990s (4.18% vs. 3.45%), topped North Dakota's average during the 2000s (6.94% vs. 3.77%), outpaced North Dakota's average throughout the 2010s (21.04% vs. 3.89%), and trailed North Dakota's average over the 3 year period of the current decade, 2020-2022 (-7.57% vs. 2.25%). Finally, relative to nationwide real total industry earnings growth trends, McKenzie County topped the nation throughout the 1970s (10.14% vs. 3.13%), fell under the nation over the 1980s (-3.82% vs. 2.62%), registered above the nation during the 1990s (4.18% vs. 3.43%), outperformed the nation throughout the 2000s (6.94% vs. 1.47%), recorded above the nation over the 2010s (21.04% vs. 2.53%), and recorded underneath the nation over 2020-2022 (-7.57% vs. 1.48%). | | | | Real* Total Industry Earnings Growth: Average Annual Percent Change | | | | | | | | | | | | | | | | | | | | | 6.83 | 10.14 | -3.82 | 4.18 | 6.94 | 21.04 | -7.57 | 8.71 | | | 3.12 | 4.68 | 0.07 | 3.45 | 3.77 | 3.89 | 2.25 | 4.89 | | | 2.57 | 3.13 | 2.62 | 3.43 | 1.47 | 2.53 | 1.48 | 0.05 |
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Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data. | | | | McKenzie County: Total Industry Earnings, 1969-2022 | | | | | | | | | 1969 | | 17,639 | 0.189 | 93,412 | 100.0 | N | 1.08 | 1970 | | 17,962 | 0.198 | 90,873 | 97.3 | -2.72 | 1.06 | 1971 | | 18,051 | 0.206 | 87,605 | 93.8 | -3.60 | 0.92 | 1972 | | 26,866 | 0.213 | 126,084 | 135.0 | 43.92 | 1.13 | 1973 | | 50,539 | 0.225 | 225,068 | 240.9 | 78.51 | 1.47 | 1974 | | 37,862 | 0.248 | 152,712 | 163.5 | -32.15 | 1.14 | 1975 | | 31,598 | 0.269 | 117,640 | 125.9 | -22.97 | 0.93 | 1976 | | 28,381 | 0.283 | 100,169 | 107.2 | -14.85 | 0.87 | 1977 | | 30,122 | 0.302 | 99,821 | 106.9 | -0.35 | 0.92 | 1978 | | 44,130 | 0.323 | 136,727 | 146.4 | 36.97 | 1.03 | 1979 | | 56,977 | 0.351 | 162,129 | 173.6 | 18.58 | 1.32 | 1980 | | 62,758 | 0.389 | 161,216 | 172.6 | -0.56 | 1.67 | 1981 | | 104,586 | 0.424 | 246,578 | 264.0 | 52.95 | 2.09 | 1982 | | 83,589 | 0.448 | 186,703 | 199.9 | -24.28 | 1.60 | 1983 | | 67,647 | 0.467 | 144,929 | 155.2 | -22.37 | 1.22 | 1984 | | 72,044 | 0.484 | 148,731 | 159.2 | 2.62 | 1.21 | 1985 | | 66,069 | 0.501 | 131,801 | 141.1 | -11.38 | 1.07 | 1986 | | 54,826 | 0.512 | 107,042 | 114.6 | -18.78 | 0.88 | 1987 | | 53,287 | 0.528 | 100,919 | 108.0 | -5.72 | 0.82 | 1988 | | 46,058 | 0.549 | 83,948 | 89.9 | -16.82 | 0.78 | 1989 | | 51,007 | 0.573 | 89,078 | 95.4 | 6.11 | 0.76 | 1990 | | 57,055 | 0.598 | 95,450 | 102.2 | 7.15 | 0.77 | 1991 | | 58,508 | 0.618 | 94,713 | 101.4 | -0.77 | 0.77 | 1992 | | 68,379 | 0.634 | 107,819 | 115.4 | 13.84 | 0.81 | 1993 | | 72,499 | 0.650 | 111,537 | 119.4 | 3.45 | 0.85 | 1994 | | 77,496 | 0.664 | 116,788 | 125.0 | 4.71 | 0.82 | 1995 | | 67,901 | 0.678 | 100,217 | 107.3 | -14.19 | 0.74 | 1996 | | 79,548 | 0.692 | 114,949 | 123.1 | 14.70 | 0.75 | 1997 | | 67,449 | 0.704 | 95,799 | 102.6 | -16.66 | 0.67 | 1998 | | 82,391 | 0.710 | 116,098 | 124.3 | 21.19 | 0.73 | 1999 | | 90,589 | 0.720 | 125,816 | 134.7 | 8.37 | 0.78 | 2000 | | 93,737 | 0.738 | 126,977 | 135.9 | 0.92 | 0.74 | 2001 | | 98,857 | 0.753 | 131,281 | 140.5 | 3.39 | 0.77 | 2002 | | 92,215 | 0.763 | 120,873 | 129.4 | -7.93 | 0.70 | 2003 | | 108,355 | 0.779 | 139,106 | 148.9 | 15.08 | 0.74 | 2004 | | 114,335 | 0.798 | 143,228 | 153.3 | 2.96 | 0.76 | 2005 | | 119,633 | 0.821 | 145,668 | 155.9 | 1.70 | 0.75 | 2006 | | 139,123 | 0.844 | 164,760 | 176.4 | 13.11 | 0.83 | 2007 | | 157,192 | 0.866 | 181,500 | 194.3 | 10.16 | 0.85 | 2008 | | 205,651 | 0.892 | 230,628 | 246.9 | 27.07 | 1.00 | 2009 | | 211,057 | 0.889 | 237,353 | 254.1 | 2.92 | 1.03 | 2010 | | 334,603 | 0.905 | 369,670 | 395.7 | 55.75 | 1.45 | 2011 | | 479,193 | 0.928 | 516,350 | 552.8 | 39.68 | 1.85 | 2012 | | 709,609 | 0.945 | 750,639 | 803.6 | 45.37 | 2.27 | 2013 | | 908,580 | 0.958 | 948,601 | 1,015.5 | 26.37 | 2.86 | 2014 | | 1,212,711 | 0.971 | 1,248,660 | 1,336.7 | 31.63 | 3.59 | 2015 | | 1,126,361 | 0.973 | 1,157,629 | 1,239.3 | -7.29 | 3.48 | 2016 | | 861,024 | 0.983 | 876,057 | 937.8 | -24.32 | 2.79 | 2017 | | 900,918 | 1.000 | 900,918 | 964.5 | 2.84 | 2.88 | 2018 | | 1,099,938 | 1.020 | 1,077,874 | 1,153.9 | 19.64 | 3.33 | 2019 | | 1,346,763 | 1.035 | 1,301,057 | 1,392.8 | 20.71 | 3.93 | 2020 | | 1,083,758 | 1.046 | 1,035,751 | 1,108.8 | -20.39 | 3.11 | 2021 | | 1,004,322 | 1.090 | 921,388 | 986.4 | -11.04 | 2.73 | 2022 | | 1,162,384 | 1.160 | 1,001,684 | 1,072.3 | 8.71 | 2.83 |
Source: Calculations by the North Dakota Regional Economic Analysis Project (ND-REAP) with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis November 2023 REAP_PI_CA1400_1200_PSN | | | | |
Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data. | | | | North Dakota: Total Industry Earnings, 1969-2022 | | | | | | | | | 1969 | | 1,635,476 | 0.189 | 8,661,103 | 100.0 | N | 0.25 | 1970 | | 1,697,577 | 0.198 | 8,588,369 | 99.2 | -0.84 | 0.24 | 1971 | | 1,959,279 | 0.206 | 9,508,755 | 109.8 | 10.72 | 0.26 | 1972 | | 2,373,485 | 0.213 | 11,138,938 | 128.6 | 17.14 | 0.29 | 1973 | | 3,449,296 | 0.225 | 15,360,926 | 177.4 | 37.90 | 0.38 | 1974 | | 3,326,785 | 0.248 | 13,418,243 | 154.9 | -12.65 | 0.33 | 1975 | | 3,384,488 | 0.269 | 12,600,477 | 145.5 | -6.09 | 0.32 | 1976 | | 3,250,475 | 0.283 | 11,472,400 | 132.5 | -8.95 | 0.28 | 1977 | | 3,277,555 | 0.302 | 10,861,463 | 125.4 | -5.33 | 0.25 | 1978 | | 4,284,296 | 0.323 | 13,273,937 | 153.3 | 22.21 | 0.29 | 1979 | | 4,324,493 | 0.351 | 12,305,418 | 142.1 | -7.30 | 0.26 | 1980 | | 3,766,068 | 0.389 | 9,674,445 | 111.7 | -21.38 | 0.21 | 1981 | | 5,008,975 | 0.424 | 11,809,442 | 136.4 | 22.07 | 0.26 | 1982 | | 5,209,040 | 0.448 | 11,634,853 | 134.3 | -1.48 | 0.25 | 1983 | | 5,528,819 | 0.467 | 11,845,100 | 136.8 | 1.81 | 0.25 | 1984 | | 5,973,109 | 0.484 | 12,331,198 | 142.4 | 4.10 | 0.25 | 1985 | | 6,151,885 | 0.501 | 12,272,353 | 141.7 | -0.48 | 0.24 | 1986 | | 6,202,601 | 0.512 | 12,109,961 | 139.8 | -1.32 | 0.22 | 1987 | | 6,524,523 | 0.528 | 12,356,583 | 142.7 | 2.04 | 0.22 | 1988 | | 5,923,751 | 0.549 | 10,796,958 | 124.7 | -12.62 | 0.18 | 1989 | | 6,675,182 | 0.573 | 11,657,467 | 134.6 | 7.97 | 0.19 | 1990 | | 7,363,324 | 0.598 | 12,318,401 | 142.2 | 5.67 | 0.20 | 1991 | | 7,550,161 | 0.618 | 12,222,231 | 141.1 | -0.78 | 0.20 | 1992 | | 8,446,587 | 0.634 | 13,318,491 | 153.8 | 8.97 | 0.21 | 1993 | | 8,499,799 | 0.650 | 13,076,614 | 151.0 | -1.82 | 0.20 | 1994 | | 9,421,916 | 0.664 | 14,199,042 | 163.9 | 8.58 | 0.21 | 1995 | | 9,215,390 | 0.678 | 13,601,249 | 157.0 | -4.21 | 0.20 | 1996 | | 10,588,494 | 0.692 | 15,300,629 | 176.7 | 12.49 | 0.21 | 1997 | | 10,069,888 | 0.704 | 14,302,396 | 165.1 | -6.52 | 0.19 | 1998 | | 11,295,046 | 0.710 | 15,915,913 | 183.8 | 11.28 | 0.20 | 1999 | | 11,554,251 | 0.720 | 16,047,348 | 185.3 | 0.83 | 0.19 | 2000 | | 12,600,120 | 0.738 | 17,068,245 | 197.1 | 6.36 | 0.19 | 2001 | | 12,856,596 | 0.753 | 17,073,379 | 197.1 | 0.03 | 0.19 | 2002 | | 13,207,378 | 0.763 | 17,311,843 | 199.9 | 1.40 | 0.19 | 2003 | | 14,736,799 | 0.779 | 18,919,043 | 218.4 | 9.28 | 0.20 | 2004 | | 15,091,828 | 0.798 | 18,905,669 | 218.3 | -0.07 | 0.20 | 2005 | | 16,029,789 | 0.821 | 19,518,294 | 225.4 | 3.24 | 0.20 | 2006 | | 16,675,653 | 0.844 | 19,748,523 | 228.0 | 1.18 | 0.20 | 2007 | | 18,468,147 | 0.866 | 21,324,081 | 246.2 | 7.98 | 0.21 | 2008 | | 20,476,941 | 0.892 | 22,963,935 | 265.1 | 7.69 | 0.23 | 2009 | | 20,545,958 | 0.889 | 23,105,856 | 266.8 | 0.62 | 0.24 | 2010 | | 23,004,671 | 0.905 | 25,415,594 | 293.4 | 10.00 | 0.25 | 2011 | | 25,915,118 | 0.928 | 27,924,570 | 322.4 | 9.87 | 0.27 | 2012 | | 31,300,083 | 0.945 | 33,109,868 | 382.3 | 18.57 | 0.32 | 2013 | | 31,731,678 | 0.958 | 33,129,408 | 382.5 | 0.06 | 0.31 | 2014 | | 33,780,051 | 0.971 | 34,781,408 | 401.6 | 4.99 | 0.32 | 2015 | | 32,357,195 | 0.973 | 33,255,424 | 384.0 | -4.39 | 0.29 | 2016 | | 30,852,577 | 0.983 | 31,391,251 | 362.4 | -5.61 | 0.27 | 2017 | | 31,307,802 | 1.000 | 31,307,802 | 361.5 | -0.27 | 0.26 | 2018 | | 33,029,524 | 1.020 | 32,366,972 | 373.7 | 3.38 | 0.27 | 2019 | | 34,257,893 | 1.035 | 33,095,257 | 382.1 | 2.25 | 0.26 | 2020 | | 34,840,100 | 1.046 | 33,296,794 | 384.4 | 0.61 | 0.26 | 2021 | | 36,752,082 | 1.090 | 33,717,197 | 389.3 | 1.26 | 0.26 | 2022 | | 41,039,957 | 1.160 | 35,366,163 | 408.3 | 4.89 | 0.27 |
Source: Calculations by the North Dakota Regional Economic Analysis Project (ND-REAP) with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis November 2023 REAP_PI_CA1400_1200_PSN | | | | |
Tip: 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 North Dakota Regional Economic Analysis Project (ND-REAP) with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis November 2023 REAP_PI_CA1400_1200_PN | | | | |
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