A complicated interaction of economic forces has caused recent Lima income changes. Significant changes benefited middle- and lower-income Americans in the 2020s.
Economic Shift in Lima Region (Photo from Google)
Lima Region’s Personal Income Trends
Pandemic-driven welfare programs and stimulus payments boosted household income, especially for child care. One in three workers quit during the Great Resignation for better benefits, job satisfaction, and compensation.
However, 2022 brought economic troubles, including a record 9% inflation. Rising inflation undermined working-class purchasing power. Personal income growth slowed in 2022 following a strong 2021. Individual salaries climbed 1.7% in big cities, down from 8.9% the year before. Nonmetropolitan and rural areas saw personal income growth decelerate to 1.2% in 2022 from 8.9% in 2021.
In Lima’s Allen, Auglaize, and Putnam counties, Stacker examined personal income patterns using Bureau of Economic Analysis data. Allen County’s per capita income rose 0.6% to $50,195 in 2022. Allen County was the 42nd highest of 88 counties in the state, $7,582 below the state average and $15,275 below the national average.
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Auglaize and Putnam Counties’ Per Capita Income Trends in 2022
In 2022, Auglaize County had a per capita personal income of $55,857 and grew 0.9%. The 22nd highest in the state, Auglaize County was $9,613 below the national average.
The 2022 per capita personal income in Putnam County was $59,510, up 1.0% from the year before. Putnam County, the 14th highest in the state, was $1,733 higher than the state average but $5,960 lower than the national average.
Lima’s diversified economy is shaped by local and global economic trends, as shown by county-specific personal income dynamics.
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