| State Output |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
| Gross State Product ($
Millions: Current) |
20,997 |
22,089 |
22,562 |
23,338 |
23,937 |
24,476 |
| |
4.9% |
5.2% |
2.1% |
3.4% |
2.6% |
2.3% |
| Real GDP (Chained 2012 $
Mill) |
18,796 |
19,427 |
19,548 |
20,039 |
20,170 |
20,159 |
| |
1.9% |
3.4% |
0.6% |
2.5% |
0.7% |
-0.1% |
|
|
|
|
|
|
|
| Lansing Income by place
of residence ($000) |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
| Personal income
(thousands of dollars) |
18,000,520 |
18,705,410 |
19,362,400 |
20,311,240 |
21,033,740 |
21,692,290 |
| |
4.9% |
3.9% |
3.5% |
4.9% |
3.6% |
3.1% |
| Population (persons) |
472,839 |
476,721 |
480,353 |
481,893 |
483,806 |
485,679 |
| |
0.3% |
0.8% |
0.8% |
0.3% |
0.4% |
0.4% |
| Per capita personal
income (dollars) |
38,069 |
39,238 |
40,309 |
42,149 |
43,476 |
44,664 |
| |
4.6% |
3.1% |
2.7% |
4.6% |
3.1% |
2.7% |
| Real Per-Capita Personal
Income (Chained 2012 $) |
34,078 |
34,509 |
34,925 |
36,192 |
36,634 |
36,786 |
| |
1.5% |
1.3% |
1.2% |
3.6% |
1.2% |
0.4% |
| Relative Per-Capita
Personal Income (Local/US) |
0.78 |
0.79 |
0.78 |
0.77 |
0.77 |
0.75 |
| |
|
|
|
|
|
|
| Derivation of Personal
Income |
|
|
|
|
|
|
| Earnings by place of
work |
13,443,520 |
14,047,870 |
14,489,230 |
15,054,560 |
15,414,620 |
15,822,720 |
| |
4.5% |
4.5% |
3.1% |
3.9% |
2.4% |
2.6% |
| Less: Contributions for government social
insurance |
1,547,950 |
1,608,299 |
1,666,587 |
1,741,752 |
1,796,582 |
1,840,800 |
| |
3.5% |
3.9% |
3.6% |
4.5% |
3.1% |
2.5% |
| Plus: Adjustment for residence |
-737,062 |
-782,360 |
-799,339 |
-799,087 |
-822,810 |
-847,233 |
| |
|
|
|
|
|
|
| Equals: Net earnings by place of residence |
11,158,510 |
11,657,210 |
12,023,300 |
12,513,720 |
12,795,230 |
13,134,690 |
| |
4.8% |
4.5% |
3.1% |
4.1% |
2.2% |
2.7% |
| Plus: Dividends, interest, and rent |
3,126,219 |
3,222,115 |
3,467,242 |
3,731,586 |
3,996,115 |
4,126,107 |
| |
4.1% |
3.1% |
7.6% |
7.6% |
7.1% |
3.3% |
| Plus: Personal current transfer receipts |
3,715,791 |
3,826,086 |
3,871,856 |
4,065,937 |
4,242,395 |
4,431,490 |
| |
6.0% |
3.0% |
1.2% |
5.0% |
4.3% |
4.5% |
| |
|
|
|
|
|
|
| Components of Earnings |
|
|
|
|
|
|
| Wages and salaries |
9,859,253 |
10,335,610 |
10,655,600 |
11,060,900 |
11,347,740 |
11,695,230 |
| |
3.8% |
4.8% |
3.1% |
3.8% |
2.6% |
3.1% |
| Supplements to wages and salaries |
2,663,963 |
2,801,945 |
2,868,434 |
2,980,180 |
3,032,702 |
3,076,409 |
| Proprietors' income |
920,302 |
910,315 |
965,198 |
1,013,477 |
1,034,179 |
1,051,087 |
| Farm proprietors' income |
-3,832 |
-11,898 |
-10,098 |
-8,197 |
-13,047 |
-14,425 |
| Nonfarm proprietors' income |
924,134 |
922,213 |
975,296 |
1,021,674 |
1,047,226 |
1,065,512 |
| Source: Center
for Economic Analysis, Michigan State University |
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