Leading, Slipping, Gaining, Lagging Analysis:
Assessing Farm Earnings Growth
Across West Virginia Counties
Real* Farm
Earnings Growth
County vs Statewide Average: 2010-2022 and 2022
Real* Farm
Earnings Growth
West Virginia:
2010-2022 = -30.18%
2022 = 265.86%
Borrowing from an approach that sometimes appears in the finance sections of the popular press, LSGL analysis is a handy and versatile way to compare, portray and classify the patterns of real farm earnings growth across all of West Virginia's 55 counties. In finance, this technique is used for comparing and assessing the market performance of individual securities or across industry sectors. For example, the performance of the 30 stocks contained within Dow are compared with one another over the past week in contrast to their performance over the past month using the Dow's respective averages as the points of reference.
Here in this West Virginia Regional Economic Analysis Project report, we adopt this approach to gauge and compare the real farm earnings growth of West Virginia's 55 counties over the latest available year (2022) against the backdrop of their growth over the long term period (2010-2022). In so doing we classify their growth and performance into 4 broad categories: Leading, Slipping, Gaining and Lagging.
Real* Farm
Earnings Growth
County vs Statewide Average: 2010-2022 and 2022
Real* Farm
Earnings Growth
West Virginia:
2010-2022 = -30.18%
2022 = 265.86%
This figure displays the 55 counties of West Virginia as dots on a scattergram, with the vertical axis representing the average annual real farm earnings growth rate over the long-term period (2010-2022), and the horizontal axis representing the real farm earnings growth rate for the near-term (2022).
This figure sets apart those counties whose long-term real farm earnings growth exceeded the statewide average of -30.18%, by portraying them in the top two quadrants demarcated at -30.18% on the vertical axis. County whose long-term average annual real farm earnings growth rate trailed the statewide average (-30.18%) are distributed in the bottom two quadrants. In all, 43 counties surpassed the statewide average over 2010-2022, while 12 counties fell below.
Similarly, the two quadrants on the right of this figure present the positions of the 6 counties whose most recent (2022) real farm earnings growth rate exceeded the statewide average (265.86%). The two quadrants on the left feature those 49 counties whose real farm earnings growth over 2022 trailed the statewide average.
Accordingly, each quadrant portrays the performance of all 55 counties corresponding with their long-term (2010-2022) and near-term (2022) performance relative to their respective statewide averages of -30.18% over 2010-2022 and 265.86% over 2022:
Leading counties () (top-right quadrant)...are counties whose average annual real farm earnings growth rate surpassed the statewide average both long-term (-30.18%) and near-term (265.86%).
Slipping counties () (top-left quadrant)...are counties whose long-term average annual real farm earnings growth rate exceeded the statewide average (-30.18%), but whose near-term growth has "slipped" by falling below the West Virginia average (265.86%).
Gaining counties () (bottom-right quadrant)...are counties whose long-term average annual real farm earnings growth rate fell below the statewide average (-30.18%), but whose near-term growth has "gained" by registering above the average (265.86%) statewide.
Lagging counties () (bottom-left quadrant)...are counties whose average annual real farm earnings growth rate fell under the statewide average both long-term (-30.18%) and near-term (265.86%).
   
 
Summary of West Virginia's 55 County Totals
 
Short Term Average
 
 
Below
(265.86%)
Above
(265.86%)
 
Long
Term
Average
Above
(-30.18%)
38
5
43
Below
(-30.18%)
11
1
12
 
49
6
55
 
   
Leading Counties
2022 vs. 2010-2022 Averages
Leading Counties
white dot
West Virginia:
2010-2022 = -30.18%
2022 = 265.86%
Turning attention to the top-right quadrant from the discussion above, this figure features the distribution of the West Virginia counties classified as Leading. These counties surpassed West Virginia's average annual real farm earnings growth both long-term (2010-2022 = -30.18%) as well as near-term (2022 = 265.86%). Each is identified by its corresponding ranking based on it's average annual real farm earnings growth rate over 2010-2022.
Of West Virginia's 55 counties, just 5 (9%) are classified within the Leading () category. Those counties ranked by their long-term average include:
Slipping Counties
2022 vs. 2010-2022 Averages
Slipping Counties
West Virginia:
2010-2022 = -30.18%
2022 = 265.86%
This figure depicts the distribution of the 38 West Virginia counties classified as Slipping (top-left quadrant), in that their long-term average annual real farm earnings growth rate outpaced the average statewide (2010-2022 = -30.18%), while they trailed the statewide average near-term (2022 = 265.86%). Again, each county is identified by it's corresponding ranking based on its average annual real farm earnings growth rate over 2010-2022.
Observe that 38 (69%) of West Virginia's 55 counties are classified as Slipping (). Those counties ranked by their long-term average include:
Gaining Counties
2022 vs. 2010-2022 Averages
Gaining Counties
white dot
West Virginia:
2010-2022 = -30.18%
2022 = 265.86%
This figure shows the distribution of the 1 West Virginia county classified as Gaining (bottom-right quadrant), in that their long-term average annual real farm earnings growth rate posted below the average statewide (2010-2022 = -30.18%), while they outpaced West Virginia's average near-term (2022 = 265.86%). Again, each county is identified by its corresponding ranking based on its average annual real farm earnings growth rate over 2010-2022.
Of West Virginia's 55 counties, only 2% (1) are featured as Gaining (). Those counties ranked by their long-term average include:
Lagging Counties
2022 vs. 2010-2022 Averages
Lagging Counties
white dot
West Virginia:
2010-2022 = -30.18%
2022 = 265.86%
This figure depicts the distributions of the 11 West Virginia counties classified as Lagging (bottom-left quadrant). These counties trailed the statewide average annual real farm earnings growth both long-term (2010-2022 = -30.18%) as well as near-term (2022 = 265.86%). Again, each county is identified by its corresponding ranking based on it's average annual real farm earnings growth rate over 2010-2022.
20% of West Virginia's counties, 11 of 55, are characterized here as Lagging (). Those counties ranked by their long-term average include:
   
 
West Virginia
Real* Farm Earnings Growth
County vs. Statewide Average
 
2010-2022
 
2022
 
 
Leading Counties
 
3
218.74
 
3
1,154.84
389
 
1
4,773.91
 
1
64,383.33
3,869
 
20
6.62
 
4
589.11
8,491
 
8
88.99
 
2
1,230.34
26,793
 
5
123.60
 
5
521.88
270
Slipping Counties
 
34
-11.51
 
26
-16.07
-2,875
 
18
9.11
 
47
-63.65
1,198
 
14
23.69
 
45
-60.00
-168
 
10
40.56
 
11
123.16
2,544
 
40
-20.27
 
25
-15.15
-783
 
27
-3.05
 
32
-27.70
-1,489
 
32
-8.13
 
44
-46.45
-3,462
 
24
-0.32
 
27
-19.94
-2,015
 
19
6.65
 
18
3.27
-592
 
26
-2.52
 
38
-36.55
-3,751
 
15
21.23
 
22
-1.59
3,662
 
2
224.49
 
14
17.65
-14
 
11
38.00
 
19
2.00
102
 
22
0.00
 
20
0.00
0
 
35
-11.53
 
39
-37.05
-4,313
 
29
-7.19
 
43
-40.31
-10,213
 
17
9.84
 
29
-25.51
12,922
 
7
93.12
 
12
73.73
7,540
 
43
-26.44
 
9
155.98
1,165
 
22
0.00
 
20
0.00
0
 
31
-7.58
 
41
-38.68
-2,402
 
4
132.36
 
24
-14.42
1,602
 
6
97.57
 
49
-70.06
106
 
36
-12.07
 
42
-38.83
-3,561
 
12
30.50
 
36
-34.17
732
 
21
0.20
 
16
11.19
4,234
 
42
-25.53
 
48
-65.18
-1,333
 
9
61.77
 
23
-4.38
2,576
 
30
-7.45
 
8
197.17
825
 
25
-1.43
 
31
-26.84
-2,755
 
41
-24.33
 
30
-26.10
-1,599
 
13
25.65
 
10
139.23
2,787
 
33
-8.34
 
50
-70.70
-1,002
 
38
-19.02
 
52
-101.18
-3,748
 
16
20.34
 
46
-62.61
258
 
37
-18.08
 
28
-21.18
-1,150
 
39
-20.19
 
40
-38.03
-2,624
 
28
-6.42
 
37
-35.50
-6,798
Gaining Counties
 
45
-50.71
 
6
443.89
36,820
Lagging Counties
 
55
-1,442.91
 
15
13.95
-327
 
53
-287.38
 
13
62.98
-67
 
50
-116.36
 
7
243.57
5,358
 
49
-90.73
 
34
-30.95
-6,841
 
46
-74.66
 
17
4.05
-1,398
 
51
-181.60
 
33
-29.66
-1,963
 
54
-318.37
 
54
-355.21
-1,179
 
44
-41.64
 
35
-32.92
-1,950
 
47
-75.49
 
51
-98.16
-3,008
 
48
-84.56
 
53
-101.28
-1,729
 
52
-189.91
 
55
-2,500.00
-234
 
 
 
 
 
 
 
 
 
-30.18
 
265.86
48,900
 
 
 
 
 
 
 
 
 
7.08
 
5.51
114,272,000
November 2023
REAP_PI_CA1600N_500000_LSGL
 
   
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