Lane County’s Per Capita Personal Income Growth Slows in 2017January 9, 2019 Lane County’s per capita personal income increased $1,197 (2.8%) in 2017 to reach $43,430. The statewide and national figures grew by $1,724 (3.7%) and $1,809 (3.6%), respectively.
The U.S. Department of Commerce, Bureau of Economic Analysis released its 2017 estimates of personal income for substate areas (counties and townships) in late November in 2018.
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 $721 million between 2016 and 2017 to reach $16.3 billion, a 4.6 percent increase. When the data are adjusted for inflation, however, total personal income increased by $390 million, or 2.7 percent. This year’s increase follows an increase of roughly $674 million (4.5%) in 2016.
The components of personal income for Lane County show that 56 percent was from earnings; 21 percent from dividends, interest, and rent; and 23 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.
Lane County’s real (inflation adjusted) per capita personal income gains slowed in 2017 and 2016 after accelerating in 2015. In 2017, it grew by $300, or 0.7 percent, to reach $43,430. In 2016, it grew by $590, or 1.4 percent, after increasing by $2,500, or 5.9 percent, in 2015.
Relative to other areas, Lane County’s per capita personal income remained 90 percent of the statewide and 84 percent of the U.S. Lane County’s per capita personal income ranked 10th among Oregon’s 36 counties.