Economic Data : Lexington County

Per Capita Personal Income

In 2002 Lexington had a per capita personal income (PCPI) of $28,981. This PCPI ranked 4th in the state and was 114 percent of the state average, $25,502, and 94 percent of the national average, $30,906. The 2002 PCPI reflected an increase of 1.7 percent from 2001. The 2001-2002 state change was 1.7 percent and the national change was 1.2 percent. In 1992 the PCPI of Lexington was $19,435 and ranked 3rd in the state. The 1992-2002 average annual growth rate of PCPI was 4.1 percent. The average annual growth rate for the state was 4.2 percent and for the nation was 4.0 percent.

Total Personal Income

In 2002 Lexington had a total personal income (TPI) of $6,452,072. This TPI ranked 5th in the state and accounted for 6.2 percent of the state total. In 1992 the TPI of Lexington was $3,460,061 and ranked 5th in the state. The 2002 TPI reflected an increase of 2.9 percent from 2001. The 2001-2002 state change was 2.8 percent and the national change was 2.3 percent. The 1992-2002 average annual growth rate of TPI was 6.4 percent. The average annual growth rate for the state was 5.5 percent and for the nation was 5.2 percent.

Components of Total Personal Income

Total personal income includes net earnings by place of residence; dividends, interest, and rent; and personal current transfer receipts received by the residents of Lexington. In 2002 net earnings accounted for 72.8 percent of TPI (compared with 76.0 in 1992); dividends, interest, and rent were 14.7 percent (compared with 14.0 in 1992); and personal current transfer receipts were 12.5 percent (compared with 10.0 in 1992). From 2001 to 2002 net earnings increased 2.3 percent; dividends, interest, and rent increased 1.0 percent; and personal current transfer receipts increased 9.3 percent. From 1992 to 2002 net earnings increased on average 6.0 percent each year; dividends, interest, and rent increased on average 6.9 percent; and personal current transfer receipts increased on average 8.9 percent.

Earnings of Place by Work

Earnings of persons employed in Lexington increased from $3,412,311 in 2001 to $3,512,180 in 2002, an increase of 2.9 percent. The 2001-2002 state change was 2.1 percent and the national change was 1.5 percent. The average annual growth rate from the 1992 estimate of $1,795,943 to the 2002 estimate was 6.9 percent. The average annual growth rate for the state was 5.0 percent and for the nation was 5.3 percent.

Note: All income estimates with the exception of PCPI are in thousands of dollars, not adjusted for inflation.

Source:  Bureau of Economic Analysis

 Unemployment Rates

Lexington County has the lowest and most stable unemployment rate of any of the four Central Midlands counties. In August 2004, the Lexington County unemployment rate was 3.4%.