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%
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
             
Derivation of Personal Income            
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
             
  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%
             
Components of Earnings            
  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