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Indiana's Economy

Annual Earnings and Income over Time 2023 Adjusted Dollars	Earnings by Place of Work adj. ($000)	Rank	Personal Income by Place of Residence adj. ($000)	Rank
2023	289,033,323	20	411,992,556	20
2022	289,223,312	20	414,927,637	19
2021	291,859,819	20	436,209,825	19
2020	278,708,929	20	413,362,957	19

Source: U.S. Bureau of Economic Analysis

Quarterly Earnings and Income over Time 2023 Adjusted Dollars (Millions of dollars, seasonally adjusted)	Earnings by Place of Work adj. ($000,000)	Rank	Personal Income by Place of Residence adj. ($000,000)	Rank
2023:4	293,955,714	20	417,807,424	20
2023:3	290,639,430	20	413,185,531	20
2023:2	286,312,571	20	409,874,871	20
2023:1	285,225,533	20	407,102,361	19
2022:4	290,867,527	20	422,642,163	19
2022:3	292,440,979	20	416,286,602	19
2022:2	287,324,669	20	411,773,976	19
2022:1	286,260,075	19	409,007,807	19
2021:4	302,005,766	20	434,103,556	19
2021:3	294,722,163	20	428,886,089	19
2021:2	289,470,340	20	425,671,479	19
2021:1	281,241,006	20	456,178,173	19
2020:4	291,727,946	20	417,695,676	19
2020:3	282,662,043	20	415,249,094	19
2020:2	259,608,004	20	424,186,637	20
2020:1	280,837,722	19	396,320,420	19
% Change 2020:1 to 2023:4	4.7%	23	5.4%	27

Source: U.S. Bureau of Economic Analysis

Per Capita Personal Income	Number	Rank	Percent of U.S.
Per Capita Income - 2023	$60,038	39	87.6%
Per Capita Income - 2013 (adj. for inflation)	$51,581	36	88.8%
Per Capita Income - 2003 (adj. for inflation)	$48,761	35	90.2%
Per Capita Income - 1993 (adj. for inflation)	$42,662	29	93.1%
10-Year % Change	16.4%	21
20-Year % Change	23.1%	34
30-Year % Change	40.7%	41

Source: U.S. Bureau of Economic Analysis

Personal Income in 2023	Amount ($000)	5-Year Adj. % Change	Rank
Total Earnings by Place of Work	$289,033,323	7.5%	21
Minus: Contributions for government social insurance	$32,534,123	8.0%	26
Personal contributions for government social insurance	$18,092,358	10.1%	25
Employer contributions for government social insurance	$14,441,765	5.5%	29
Plus: Adjustment for residence	$8,653,992	8.9%	27
Equals: Net Earnings by Place of Residence	$265,153,192	7.5%	20
Plus: Dividends, rent, interest	$65,095,069	7.7%	28
Plus: Transfer payments	$81,744,295	12.3%	32
Equals: Personal Income by Place of Residence	$411,992,556	8.4%	24

*Adj = Adjusted for Inflation
Source: U.S. Bureau of Economic Analysis