Umatilla County’s 2015 Personal Income Approaches $2.8 Billion DollarsFebruary 9, 2017 Personal Income in Umatilla County, as reported by the Bureau of Economic Analysis, rose to nearly $2.8 billion in 2015, an increase of $159 million or 6.0 percent over the year, just below Oregon’s 6.5 percent gain. Over the decade (2005-2015), Umatilla County’s personal income rose by $955.2 million or 52.1 percent, just above Oregon’s 50.6 percent.
On a per capita or per person basis, Umatilla County’s personal income rose by $2,130 in 2015, an increase of 6.2 percent to reach $36,434. Oregon’s per capita personal income rose by 6.5 percent to $43,783, producing a gap of about $7,400 or 20 percent in 2015. Since 2005, Umatilla County’s per capita income rose by nearly 47 percent or $11,582, while its resident population increased by 3.7 percent. Oregon achieved a much higher rate of population growth over the decade, at 11.5 percent, while its per capita income rose by 35 percent (+$11,362).
Personal income is comprised of three major components, the largest of which is net earnings by place or residence. As a share of total personal income, Oregon’s net earnings shrank considerably over the decade. Oregon matched Umatilla County’s earnings contribution in 2005, with each holding a 65.9 percent share. Over the decade, earnings fell to represent 60.5 percent of Oregon’s personal income, while Umatilla County’s earnings fell to 59.2 percent.
Net earnings are adjusted by place of residence and in 2015 Umatilla County residents produced a net inflow of $153.1 million. The outflow of earnings to non-county residents totaled $178 million in 2015, while the inflow of earnings from outside the county reached $331.2 million. Back in 2005 Umatilla County’s net earnings adjustment produced a loss or outflow of about $9.6 million.
Transfer receipts from government include Social Security benefits, medical benefits, veterans' benefits, and unemployment insurance benefits. Current transfer receipts from business include liability payments for personal injury and corporate gifts to nonprofit institutions. Umatilla County’s transfer receipts rose by 5.8 percent or $38.7 million in 2015 to total $709.3 million. Back in 2005, transfer receipts represented 19.5 percent of Umatilla County’s personal income, well above Oregon’s 15.2 percent. Transfer receipts were Umatilla County’s fastest growing personal income component, rising by $351.3 million or 98.1 percent over the decade to hold a 25.4 percent share in 2015. Oregon’s transfer receipts more than doubled over the decade, rising by $17.7 billion or 101.1 percent to total $35.7 billion in 2015. As a share of total personal income, transfer receipts overtook dividends interest and rent to represent 20.2 percent of Oregon’s 2015 personal income total.
Dividends, interest and rent rose by just 3.8 percent in Umatilla County to total $427.3 million in 2015. Over the decade, dividends, interest and rent rose by 59.8 percent or $159.9 million to represent 15.3 percent of Umatilla County’s 2015 personal income. Oregon dividends, interest and rent rose by 53.8 percent or $11.9 billion over the decade. As a share of personal income, dividends, interest and rent remained fairly stable from 2005 to 2015, rising slightly from 18.9 percent of Oregon’s 2005 personal income to 19.3 percent in 2015.
On a per capita basis, Umatilla County’s net earnings provided $21,584 per resident in 2015, followed by transfer receipts, at $9,268 and then dividends, interest and rent with $5,583. Umatilla County held a per capita advantage of $407 or 4.4 percent over Oregon in transfer receipts. Net earnings per capita were much higher for Oregon, at $26,467, leaving a gap of $4,883 or 22.6 percent. Oregon also held a distinct advantage in dividends, interest and rent, with a per capita gap of $2,872 or 51.4 percent.