Union is one of 120 counties in Kentucky. It is not part of a Metropolitan Area. Its 1994 population of 16,500 ranked 61st in the State.
PER CAPITA PERSONAL INCOME
In 1994, Union had a per capita personal income (PCPI) of $18,214. This PCPI ranked 18th in the State, and was 102.8 percent of the State average, $17,721, and 84 percent of the national average, $21,696. In 1984, the PCPI of Union was $11,748 and ranked 9th in the State. The average annual growth rate of PCPI over the past 10 years was 4.5 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, Union had a total personal income (TPI) of $299,966*. This TPI ranked 49th in the State and accounted for 0.4 percent of the State total. In 1984, the TPI of Union was $207,125* and ranked 44th in the State. The average annual growth rate of TPI over the past 10 years was 3.8 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 Union. In 1994, earnings were 68.2 percent of TPI (compared with 70.3 percent in 1984); dividends, interest, and rent were 13.6 percent (compared with 14.6 percent in 1984); and transfer payments were 18.2 percent (compared with 15.1 percent in 1984). From 1984 to 1994, earnings increased on average 3.5 percent each year; dividends, interest, and rent increased on average 3.1 percent; and transfer payments increased on average 5.7 percent.
EARNINGS BY INDUSTRY
Earnings of persons employed in Union increased from $211,237* in 1984 to $257,389* in 1994, an average annual growth rate of 2.0 percent. The largest industries in 1994 were mining, 37.2 percent of earnings; services, 17.6 percent; and durable goods manufacturing, 8.1 percent. In 1984, the largest industries were mining, 54.7 percent of earnings; services, 13.1 percent; and farm, 5.8 percent. Of the industries that accounted for at least 5 percent of earnings in 1994, the slowest growing from 1984 to 1994 was mining, which decreased at an average annual rate of 1.9 percent; the fastest was durable goods manufacturing, which increased at an average annual rate of 16.0 percent.
* All income estimates with the exception of PCPI are in thousands of dollars.