Idaho ranks 48th among states in personal income growth

Published: October 1, 2012 

Idaho personal income rose less than one percent in the second quarter to an annualized $53.6 billion. The state's showing — a 0.7 percent increase — was 48th among the states.

Wyoming came in at 0.6 percent and New Mexico at 0.4 percent.

Wages and salaries reached $24 billion, up 0.3 percent, well below the 0.8 percent nationally.

Business profits were $6.80 billion, down slightly from $6.81 billion.

The Bureau of Economic Analysis also reset personal income numbers — the sum of wages, profits, investment earnings and transfer payments such as Social Security downward — dating back to 2009 to more accurately reflect the recession, Idaho Department of Labor officials said. The state's personal income in 2009 was reduced to $48 billion, down 0.6 percent. The 2010 number was reset 1.1 percent lower, to $49.6 billion, and last year’s estimate was cut 1.3 percent to $52.1 billion. The 2011 downward estimate dropped Idaho's growth rate from 11th in the nation to 26th for that year.

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