Lane County’s Per Capita Personal Income Growth Slows in 2016December 7, 2017 Lane County’s per capita personal income increased $768 (1.9%) in 2016 to reach $41,027 while the statewide and national figures grew by $1,064 (2.4%) and $795 (1.6%), respectively.
The U.S. Department of Commerce, Bureau of Economic Analysis released its 2016 estimates of personal income for substate areas (counties and townships) in late November.
Personal income includes all forms of income: earnings by place of work; dividends, interest, and rent; and government transfer payments (largely Social Security and Medicare). Total personal income is then divided by population to create per capita personal income.
Lane County’s total personal income rose by approximately $562 million between 2015 and 2016 to reach $15.2 billion, a 3.9 percent increase. When the data are adjusted for inflation however, total personal income increased by $378 million, or 2.6 percent. This year’s increase follows an increase of roughly $1,004 million in 2015.
The components of personal income for Lane County show that 55 percent was from earnings; 21 percent from dividends, interest, and rent; and 24 percent from transfer payments, primarily in the form of Social Security and Medicare. Lane County has similar component portions of personal income compared with the U.S. and Oregon, although Lane County is somewhat higher in transfer payments and lower in earnings by place of work, likely indicating a somewhat higher proportion of retirees and students at the University of Oregon.
Lane County’s real (inflation adjusted) per capita personal income gains slowed in 2016 after accelerating in 2015. In 2016, it grew by $260, or 0.6 percent, to reach $41,027. In 2015, it grew by $2,330, or 6.1 percent, after increasing in 2014 by $1,490, or 4.0 percent.
Relative to other areas, Lane County’s per capita personal income remained 90 percent of the statewide and remained at 83 percent of the U.S. Lane County’s per capita personal income ranked 14th among Oregon’s 36 counties.