Lansing-East Lansing Personal Income Data

Lansing Income Forecast

Lansing Income Forecast

State Output 2016 2017 2018 2019 2020 2021
Gross State Product ($ Millions: Current) 23,659,940 24,116,300 25,109,250 25,771,420 25,179,940 26,245,830
  4.1% 1.9% 4.1% 2.6% -2.3% 4.2%
Real GDP (Chained 2012 $ Mill) 21,672,910 21,810,290 22,247,290 22,347,080 21,411,450 21,832,790
  2.4% 0.6% 2.0% 0.4% -4.2% 2.0%
Lansing Income by place of residence ($000) 2016 2017 2018 2019 2020 2021
Personal income (thousands of dollars) 18,705,410 19,362,400 20,311,240 20,991,140 19,453,860 20,373,450
  3.9% 3.5% 4.9% 3.3% -7.3% 4.7%
Population (persons) 476,721 480,353 481,893 483,780 485,723 487,707
  0.8% 0.8% 0.3% 0.4% 0.4% 0.4%
Per capita personal income (dollars) 39,238 40,309 42,149 43,390 40,051 41,774
  3.1% 2.7% 4.6% 2.9% -7.7% 4.3%
Real Per-Capita Personal Income (Chained 2012 $) 35,942 36,454 37,345 37,624 34,057 34,750
  1.5% 1.4% 2.4% 0.7% -9.5% 2.0%
Relative Per-Capita Personal Income (Local/US) 0.79 0.78 0.77 0.77 0.68 0.68
             
Derivation of Personal Income            
Earnings by place of work 14,047,870 14,489,230 15,054,560 15,389,990 14,265,190 14,830,000
  4.5% 3.1% 3.9% 2.2% -7.3% 4.0%
  Less: Contributions for government social insurance 1,608,299 1,666,587 1,741,752 1,792,197 1,663,909 1,754,016
  3.9% 3.6% 4.5% 2.9% -7.2% 5.4%
  Plus: Adjustment for residence -782,360 -799,339 -799,087 -828,508 -859,045 -890,701
             
  Equals: Net earnings by place of residence 11,657,210 12,023,300 12,513,720 12,769,290 11,742,230 12,185,280
  4.5% 3.1% 4.1% 2.0% -8.0% 3.8%
  Plus: Dividends, interest, and rent 3,222,115 3,467,242 3,731,586 3,984,332 4,058,906 4,164,426
  3.1% 7.6% 7.6% 6.8% 1.9% 2.6%
  Plus: Personal current transfer receipts 3,826,086 3,871,856 4,065,937 4,237,518 3,652,725 4,023,737
  3.0% 1.2% 5.0% 4.2% -13.8% 10.2%
             
Components of Earnings            
  Wages and salaries 10,335,610 10,655,600 11,060,900 11,321,080 10,220,140 10,681,330
  4.8% 3.1% 3.8% 2.4% -9.7% 4.5%
  Supplements to wages and salaries 2,801,945 2,868,434 2,980,180 3,032,702 3,076,409 3,119,655
  Proprietors' income 910,315 965,198 1,013,477 1,036,206 968,639 1,029,011
    Farm proprietors' income -11,898 -10,098 -8,197 -8,194 16,443 29,265
    Nonfarm proprietors' income 922,213 975,296 1,021,674 1,044,400 952,196 999,746
Source: Center for Economic Analysis, Michigan State University