Sheridan County vs. North Dakota
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Sheridan County vs. North Dakota
Sheridan County:
2022 Earnings = $87,133K
2022 Percent of State = 0.21%
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.
Sheridan County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Sheridan County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Sheridan 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 Sheridan County over time.
When measured in current dollars, Sheridan County's total industry earnings increased 972.80%, from $8M in 1970 to $87M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 82.73%, from $41M in 1970 to $75M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Sheridan 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, Sheridan County's real total industry earnings rose from $41M in 1969 to $75M in 2022, for a net gain of $34M, or 81.03%. In comparison, North Dakota's real total industry earnings increased from $8,661M in 1969 to $35,366M in 2022, for a net advance of $26,705M, or 308.33%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Sheridan 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.
Sheridan County's overall real total industry earnings growth was 81.03% over 1969-2022 trailed North Dakota's increase of 308.33%, and fell below the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the North Dakota Total: 1969-2022
Total Industry Earnings as a Percent of the North Dakota Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total industry earnings growth of Sheridan 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, Sheridan County's total industry earnings comprised 0.48% of North Dakota's total industry earnings, while in 2022 it comprised 0.21% thereby yielding a -0.27% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.27%
=
0.21%
-
0.48%
 
   
Sheridan County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Sheridan County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Sheridan 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, Sheridan County's real total industry earnings grew at an annual rate of 9.41% over 1970-2022. The county posted its highest growth in 1981 (124.74%) and posted its lowest growth in 1980 (-75.65%). In 2022, Sheridan County's real total industry earnings grew by 38.77%
Sheridan County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Sheridan 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 Sheridan 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, Sheridan County's annual real total industry earnings growth rate averaged 3.80%. It averaged 5.90% throughout the 1980s, 13.68% throughout the 1990s, 11.73% during the 2000s, 3.06% throughout the 2010s, 39.09% 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 Sheridan County noted in the previous graph with the corresponding decade averages for North Dakota and the nation. As the chart reveals, Sheridan County's average annual real total industry earnings growth recorded under North Dakota's average throughout the 1970s (3.80% vs. 4.68%), outperformed North Dakota's average throughout the 1980s (5.90% vs. 0.07%), registered above North Dakota's average throughout the 1990s (13.68% vs. 3.45%), topped North Dakota's average in the 2000s (11.73% vs. 3.77%), recorded under North Dakota's average throughout the 2010s (3.06% vs. 3.89%), and led North Dakota's average over the 3 year period of the current decade, 2020-2022 (39.09% vs. 2.25%).
Finally, relative to nationwide real total industry earnings growth trends, Sheridan County led the nation throughout the 1970s (3.80% vs. 3.13%), outpaced the nation during the 1980s (5.90% vs. 2.62%), outgained the nation during the 1990s (13.68% vs. 3.43%), outpaced the nation over the 2000s (11.73% vs. 1.47%), outpaced the nation over the 2010s (3.06% vs. 2.53%), and outpaced the nation over 2020-2022 (39.09% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
9.41
3.80
5.90
13.68
11.73
3.06
39.09
38.77
 
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
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Sheridan County:
Total Industry Earnings, 1969-2022
 
1969
 
7,832
0.189
41,476
100.0
N
0.48
1970
 
8,122
0.198
41,091
99.1
-0.93
0.48
1971
 
8,345
0.206
40,500
97.6
-1.44
0.43
1972
 
14,036
0.213
65,872
158.8
62.65
0.59
1973
 
20,546
0.225
91,499
220.6
38.90
0.60
1974
 
19,037
0.248
76,784
185.1
-16.08
0.57
1975
 
17,956
0.269
66,850
161.2
-12.94
0.53
1976
 
14,092
0.283
49,737
119.9
-25.60
0.43
1977
 
11,050
0.302
36,619
88.3
-26.38
0.34
1978
 
15,927
0.323
49,346
119.0
34.76
0.37
1979
 
14,742
0.351
41,949
101.1
-14.99
0.34
1980
 
3,976
0.389
10,214
24.6
-75.65
0.11
1981
 
9,736
0.424
22,954
55.3
124.74
0.19
1982
 
12,541
0.448
28,011
67.5
22.03
0.24
1983
 
11,701
0.467
25,069
60.4
-10.51
0.21
1984
 
13,566
0.484
28,006
67.5
11.72
0.23
1985
 
17,996
0.501
35,900
86.6
28.19
0.29
1986
 
15,209
0.512
29,694
71.6
-17.29
0.25
1987
 
12,557
0.528
23,781
57.3
-19.91
0.19
1988
 
5,248
0.549
9,565
23.1
-59.78
0.09
1989
 
8,517
0.573
14,874
35.9
55.50
0.13
1990
 
14,256
0.598
23,849
57.5
60.34
0.19
1991
 
8,432
0.618
13,650
32.9
-42.77
0.11
1992
 
12,537
0.634
19,768
47.7
44.82
0.15
1993
 
17,625
0.650
27,115
65.4
37.17
0.21
1994
 
17,768
0.664
26,777
64.6
-1.25
0.19
1995
 
12,667
0.678
18,696
45.1
-30.18
0.14
1996
 
20,378
0.692
29,447
71.0
57.51
0.19
1997
 
11,339
0.704
16,105
38.8
-45.31
0.11
1998
 
19,463
0.710
27,425
66.1
70.29
0.17
1999
 
17,009
0.720
23,623
57.0
-13.86
0.15
2000
 
15,368
0.738
20,818
50.2
-11.88
0.12
2001
 
14,883
0.753
19,764
47.7
-5.06
0.12
2002
 
12,582
0.763
16,492
39.8
-16.56
0.10
2003
 
25,951
0.779
33,316
80.3
102.01
0.18
2004
 
23,503
0.798
29,442
71.0
-11.63
0.16
2005
 
22,202
0.821
27,034
65.2
-8.18
0.14
2006
 
12,026
0.844
14,242
34.3
-47.32
0.07
2007
 
23,354
0.866
26,965
65.0
89.34
0.13
2008
 
28,812
0.892
32,311
77.9
19.82
0.14
2009
 
30,662
0.889
34,482
83.1
6.72
0.15
2010
 
47,594
0.905
52,582
126.8
52.49
0.21
2011
 
52,228
0.928
56,278
135.7
7.03
0.20
2012
 
42,938
0.945
45,421
109.5
-19.29
0.14
2013
 
28,937
0.958
30,212
72.8
-33.48
0.09
2014
 
14,834
0.971
15,274
36.8
-49.44
0.04
2015
 
14,740
0.973
15,149
36.5
-0.82
0.05
2016
 
21,089
0.983
21,457
51.7
41.64
0.07
2017
 
27,228
1.000
27,228
65.6
26.89
0.09
2018
 
33,418
1.020
32,748
79.0
20.27
0.10
2019
 
28,936
1.035
27,954
67.4
-14.64
0.08
2020
 
38,989
1.046
37,262
89.8
33.30
0.11
2021
 
58,979
1.090
54,109
130.5
45.21
0.16
2022
 
87,133
1.160
75,087
181.0
38.77
0.21
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
 
   

Interactive TableTip: 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
 
   

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 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
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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