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Indiana's Economy

Annual Earnings and Income over Time 2024 Adjusted Dollars	Earnings by Place of Work adj. ($000)	Rank	Personal Income by Place of Residence adj. ($000)	Rank
2023	296,093,582	20	422,056,358	20
2022	296,288,212	20	425,063,135	19
2021	298,989,121	20	446,865,185	19
2020	285,516,992	20	423,460,234	19

Source: U.S. Bureau of Economic Analysis

Quarterly Earnings and Income over Time 2024 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
2024:1	295,554,660	20	423,725,376	19
2023:4	298,726,877	20	425,739,627	20
2023:3	297,820,257	20	423,343,451	20
2023:2	293,328,046	20	419,914,234	20
2023:1	292,193,334	20	417,054,485	19
2022:4	297,972,590	20	432,966,105	19
2022:3	299,584,477	20	426,455,296	19
2022:2	294,343,190	20	421,832,438	19
2022:1	293,252,591	19	418,998,700	19
2021:4	309,382,904	20	444,707,467	19
2021:3	301,921,384	20	439,362,552	19
2021:2	296,541,274	20	436,069,418	19
2021:1	288,110,921	20	467,321,304	19
2020:4	298,854,027	20	427,898,789	19
2020:3	289,566,670	20	425,392,444	19
2020:2	265,949,487	20	434,548,306	20
2020:1	287,697,786	19	406,001,396	19
% Change 2020:1 to 2024:1	2.7%	25	4.4%	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