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Local Area Personal Income: 2015

Personal income grew in 2015 in 2,552 counties, fell in 548, and was unchanged in 13. On average, personal income rose 4.7 percent in 2015 in the metropolitan portion of the United States and rose 2.7 percent in the nonmetropolitan portion. Personal income growth in 2015 ranged from -30.3 percent in Sully County, South Dakota to 35.0 percent in Loving County, Texas.

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Per capita personal income—personal income divided by population—is a useful metric for making comparisons of the level of personal income across counties. In 2015, it ranged from $16,007 in Wheeler County, Georgia to $194,861 in Teton County, Wyoming.

For more information, read the full report.

Detailed Data on the Global Activities of U.S. Multinational Enterprises Coming out Dec. 16

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Detailed statistics on the worldwide activities of U.S. multinational enterprises in 2014, including the finances and operations of U.S. parent companies and their foreign affiliates, will be available from the U.S. Bureau of Economic Analysis on Dec. 16.

The preliminary data are based on the 2014 Benchmark Survey of U.S. Direct Investment Abroad.  Benchmark surveys, which are conducted every five years (in lieu of the annual survey), are BEA’s most comprehensive surveys of U.S. Direct Investment Abroad — in terms of both the coverage of companies and the amount of information that is collected.

The statistics, which will be released on Dec. 16, provide information on U.S. multinational enterprises, including:

  • Balance sheet and income statement details
  • Employment and employee compensation
  • Sales and value added–a measure of the enterprise’s contribution to gross domestic product in the United States or in the other countries where it operates
  • Capital expenditures
  • Trade in goods
  • Spending on research and development

The statistics are shown by the country where the foreign affiliate operates and by industry of the affiliate and of the U.S. parent.

The statistics will be available on BEA’s website in customizable interactive tables.  An article in the December edition of the Survey of Current Business, BEA’s online journal, also will feature the statistics.

In addition to providing information on the operations of multinational enterprises for 2014, the statistics also will include revised data for 2013, which are based on the 2013 Annual Survey of U.S. Direct Investment Abroad.

BEA Unveiling New Data Tool Aimed at Faster Access to Economic Statistics in United States, Europe

In a show of collaboration between the United States and Europe, BEA is unveiling a new data tool that aims to make it easier to access, compare and visualize economic data between the two regions.

The Bureau of Economic Analysis and the Commerce Data Service, which are both part of the U.S. Commerce Department, have teamed up with Eurostat, the Statistical Office of the European Union, to build this new open-source data tool.

bea-eu-blog-combined-logos-v2The tool is being built on the statistical programming language called “R” that taps into BEA’s and Eurostat’s huge databases and provides analysts, researchers, economists, data-savvy entrepreneurs  and others quick access to economic statistics – requiring only a few lines of code to do so.

GDP, disposable income and employment by industry and by geographic region are among the key economic statistics that will be available as part of the new data tool.

How could this new tool be used?  Here are just a couple of examples:

  • Economic developers in Europe and the United States could use the data to aid decisions about where to target resources to attract economic development to specific areas. These data also support research related to understanding local economic dynamics and the longer-term impacts of different development strategies.
  • Business people and marketers (on both sides of the Atlantic) could analyze the data to make decisions on hiring and investing, such as identifying regions in  Europe and the United States to build new plants or facilities or targeting regions to expand operations. These data also could provide a better understanding of the local industrial structure and how growth in a set of industries may affect the composition of the workforce in the area, thus leading to more informed decision making.

Justin Antonipillai, who leads the Commerce Department’s Economics and Statistics Administration with the Delegated Duties of the Under Secretary for Economic Affairs, is highlighting the open-source data partnership between the United States and the European Union while at the Web Summit this week in Lisbon, which bills itself as “Europe’s largest technology marketplace.”


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