Lansing-East Lansing Personal Income Data

Lansing Income Forecast

Lansing Income Forecast

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