Lyon is one of 120 counties in Kentucky. It is not part of a Metropolitan Area. Its 1994 population of 7,600 ranked 107th in the State.
PER CAPITA PERSONAL INCOME
In 1994, Lyon had a per capita personal income (PCPI) of $12,438. This PCPI ranked 97th in the State, and was 70.2 percent of the State average, $17,721, and 57.3 percent of the national average, $21,696. In 1984, the PCPI of Lyon was $8,626 and ranked 76th in the State. The average annual growth rate of PCPI over the past 10 years was 3.7 percent. The average annual growth rate for the State was 5.3 percent and for the nation was 5.0 percent.
TOTAL PERSONAL INCOME
In 1994, Lyon had a total personal income (TPI) of $94,155*. This TPI ranked 112th in the State and accounted for 0.1 percent of the State total. In 1984, the TPI of Lyon was $55,675* and ranked 111th in the State. The average annual growth rate of TPI over the past 10 years was 5.4 percent. The average annual growth rate for the State was 5.7 percent and for the nation was 6.0 percent.
COMPONENTS OF TOTAL PERSONAL INCOME
Total personal income (TPI) includes the earnings (wages and salaries, other labor income, and proprietors's income); dividends, interest, and rent; and transfer payments received by the residents of Lyon. In 1994, earnings were 59.0 percent of TPI (compared with 58.4 percent in 1984); dividends, interest, and rent were 15.5 percent (compared with 18.6 percent in 1984); and transfer payments were 25.5 percent (compared with 22.9 percent in 1984). From 1984 to 1994, earnings increased on average 5.5 percent each year; dividends, interest, and rent increased on average 3.5 percent; and transfer payments increased on average 6.5 percent.
EARNINGS BY INDUSTRY
Earnings of persons employed in Lyon increased from $24,665* in 1984 to $46,863* in 1994, an average annual growth rate of 6.6 percent. The largest industries in 1994 were state and local government, 32.0 percent of earnings; retail trade, 16.7 percent; and nondurable goods manufacturing, 15.3 percent. In 1984, the largest industries were state and local government, 37.3 percent of earnings; nondurable goods manufacturing; and construction, 10.8 percent. Of the industries that accounted for at least 5 percent of earnings in 1994, the slowest growing from 1984 to 1994 was state and local government, which increased at an average annual rate of 5.0 percent; the fastest was retail trade, which increased at an average annual rate of 15.0 percent.
* All income estimates with the exception of PCPI are in thousands of dollars.