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Memo

From: Group 23 (T. Nogueira, X. Lin)
To: Dr. Keller
Date: January 28, 2018
RE: Economic Analysis of Cleveland County, NC

This memo analyzes economic data regarding Cleveland county. The data is from the Bureau of
Economic Analysis. This data is titled the Regional Economic Information Survey. The data extends from
1969-2015, 47 years. The data covers all 100 counties in North Carolina.

Population
The population of North Carolina in 1969 was 5,031,000. The population in 2015 was 10,042,802. The
growth rate of North Carolina over 47 years was 1.51%. The population increased 90% over the 47 years.
Cleveland county began with the population of 73,050 in 1969 ranking #20 and the population increased
to 96,879 in 2015 but decreased the rank to #28.

Personal Income
The personal income per capita in 1969 for Cleveland County was $2,773. The personal income per
capita in 2015 for Cleveland County was $33,712. Personal income is comprised of three sub-dimensions:
Earnings, Dividends Interest and Rent (DIR), and Transfers. Transfer is comprised of three sub-
dimensions: Income Maintenance (IM), Unemployment (UM) and Retirement (RE). The chart below
shows the per capita values breakdown for personal income for Cleveland County in 1969 and 2015.

The personal income per capita in 1969 for NC was $3,143. The personal income per capita in 2015 for
NC was $40,759. The chart below shows the breakdown personal income per capita for North Carolina in
1969 and 2015.
Earning by Place of Work
The total earnings by place of work in Cleveland County in 1969 was $171,593,000. In 2015, the total
earnings by place of work increased drastically to $1,862,124,000. The sum of earnings by workplace for
North Carolina in 1969 was $13,722,251,000. The sum of earnings increased to $293,173,002,000 in
2015. Earning by place of work comprises of three sub-dimensions which include: Wages, Supplement
(sub-dimensions: Pension and Government), and Proprietors (sub-dimensions: Farm and Non-Farm). The
table below shows the per earner amount for earnigns by place of work for each sub-dimensions in
Cleveland County and North Carolina in 1969 and 2015.
Cleveland County North Carolina
1969 2015 Growth Rate 1969 2015 Growth Rate
Earnings by $5,268 $40,850 5.32% $5,583 $51,400 6.88%
place of work
Wages and $4,934 $37,442 5.05% $5,091 $47,465 6.73%
salaries
Supplements $516 $9,709 7.14% $623 $11,149 8.25%
Pension $296 $6,680 7.56% $406 $7,482 8.32%
Gov’t Social $220 $3,029 6.41% $217 $3,667 8.12%
Proprietors' $4,049 $17,282 5.06% $4,818 $24,634 6.38%
income
Farm $4,305 $38,095 4.86% $4,166 $66,268 3.60%
Nonfarm $3,982 $15,193 5.12% $5,181 23,165 7.01%

Employment
The employment in Cleveland County in 1969 was 32,571 people. In 2015, employment increased to
45,584 people. The employment in North Carolina in 1969 was 2,457,997 people. The employment
increased over a million people in 2015 to total 5,703,767. Employment comprises of two sub-dimensions
which include: Wages Earner and Proprietors (sub-dimension: Farm and Non-Farm). The table below
shows the breakdown for each sub-dimensions for Cleveland County and NC in 1969 and 2015 along
with the growth rates.
Cleveland County North Carolina
1969 2015 Growth Rate 1969 2015 Growth Rate
Total employ. 32,571 45,584 0.73% 2,457,997 5,703,767 1.85%
Wage Earner 28,338 35,969 0.52% 2,097,402 4,492,941 1.67%
Proprietors 4,233 9,615 1.80% 360,595 1,210,826 2.67%
employment
Farm 875 877 0.00% 129,146 41,259 -2.45%
Nonfarm 3,358 8,738 2.10% 231,449 1,169,567 3.58%
Employ. Rate 45% 47% 0.12% 49% 57% 0.33%
The table below shows the percentage breakdown for each sub-dimensions with employment in
Cleveland County and North Carolina in 1969 and 2015, along with the growth rates.

Cleveland County North Carolina
1969 2015 Growth Rate 1969 2015 Growth Rate
Wages Earner 87% 79% 0.52% 85% 79% 1.67%
Proprietors 13% 21% 1.80% 15% 21% 2.67%
Farm 21% 9% 0.00% 36% 3% -2.45%
Non-Farm 79% 91% 2.10% 64% 97% 3.58%