Lansing-East Lansing Personal Income Data
Mid-Year Update
Updated on 6/20/2021
Lansing Income Forecast
Lansing Income Forecast
| State Output |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
| Gross State Product ($
Millions: Current) |
24,789,910 |
25,515,570 |
26,480,710 |
27,287,750 |
26,997,150 |
27,708,050 |
| |
5.3% |
2.9% |
3.8% |
3.0% |
-1.1% |
2.6% |
| Real GDP (Chained 2012 $
Mill) |
22,755,230 |
23,161,180 |
23,609,660 |
23,837,400 |
23,175,900 |
23,395,280 |
| |
3.8% |
1.8% |
1.9% |
1.0% |
-2.8% |
0.9% |
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| Lansing Income by place
of residence ($000) |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
| Personal income
(thousands of dollars) |
18,552,140 |
19,199,930 |
19,942,010 |
20,627,730 |
18,618,410 |
19,519,280 |
| |
3.4% |
3.5% |
3.9% |
3.4% |
-9.7% |
4.8% |
| Population (persons) |
476,604 |
479,980 |
480,541 |
482,269 |
484,209 |
486,190 |
| |
0.8% |
0.7% |
0.1% |
0.4% |
0.4% |
0.4% |
| Per capita personal
income (dollars) |
38,926 |
40,002 |
41,499 |
42,772 |
38,451 |
40,147 |
| |
2.5% |
2.8% |
3.7% |
3.1% |
-10.1% |
4.4% |
| Real Per-Capita Personal
Income (Chained 2012 $) |
35,731 |
36,310 |
37,000 |
37,364 |
33,009 |
33,899 |
| |
1.1% |
1.6% |
1.9% |
1.0% |
-11.7% |
2.7% |
| Relative Per-Capita
Personal Income (Local/US) |
0.78 |
0.77 |
0.76 |
0.76 |
0.67 |
0.66 |
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| Derivation of Personal
Income |
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| Earnings by place of
work |
13,888,550 |
14,392,850 |
14,944,540 |
15,416,740 |
14,220,420 |
14,565,240 |
| |
3.7% |
3.6% |
3.8% |
3.2% |
-7.8% |
2.4% |
| Less: Contributions for government social
insurance |
1,608,037 |
1,666,264 |
1,751,003 |
1,793,509 |
1,667,150 |
1,754,471 |
| |
3.9% |
3.6% |
5.1% |
2.4% |
-7.0% |
5.2% |
| Plus: Adjustment for residence |
-771,811 |
-790,821 |
-838,724 |
-853,966 |
-885,442 |
-918,071 |
| |
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| Equals: Net earnings by place of residence |
11,508,710 |
11,935,760 |
12,354,810 |
12,769,260 |
11,667,830 |
11,892,700 |
| |
3.6% |
3.7% |
3.5% |
3.4% |
-8.6% |
1.9% |
| Plus: Dividends, interest, and rent |
3,216,315 |
3,389,052 |
3,520,349 |
3,570,337 |
3,603,358 |
3,620,503 |
| |
2.9% |
5.4% |
3.9% |
1.4% |
0.9% |
0.5% |
| Plus: Personal current transfer receipts |
3,827,117 |
3,875,114 |
4,066,843 |
4,288,128 |
3,347,219 |
4,006,070 |
| |
2.9% |
1.3% |
4.9% |
5.4% |
-21.9% |
19.7% |
| |
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| Components of Earnings |
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| Wages and salaries |
10,338,390 |
10,661,500 |
11,083,940 |
11,420,190 |
10,312,970 |
10,496,230 |
| |
4.8% |
3.1% |
4.0% |
3.0% |
-9.7% |
1.8% |
| Supplements to wages and salaries |
2,665,054 |
2,779,024 |
2,871,232 |
2,926,172 |
2,946,076 |
3,073,404 |
| Proprietors' income |
885,109 |
952,324 |
989,373 |
1,070,375 |
961,371 |
995,615 |
| Farm proprietors' income |
-36,633 |
-15,325 |
-13,130 |
16,065 |
-1,167 |
-13,111 |
| Nonfarm proprietors' income |
921,742 |
967,649 |
1,002,503 |
1,054,310 |
962,539 |
1,008,726 |
| Source: Center
for Economic Analysis, Michigan State University |
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