| 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 |
|
|
|
|
|
|
|
|
|
|
|
|
