Tuesday, June 28, 2011

Oregon’s First Quarter Personal Income Growth Above U.S.

According to estimates released on the 23rd by the Bureau of Economic Analysis (BEA), Oregon’s personal income growth in the first quarter of 2011 was 1.9 percent, slightly above the national growth rate of 1.8 percent. This made Oregon the 22nd fastest state in the Union for personal income growth. The highest ranked state was North Dakota with 6.9 percent growth, and the lowest was Iowa with 0.7 percent growth.

Among our neighboring states, Washington's growth rate (2.1%) outpaced Oregon, while Idaho (1.8%), Nevada (1.6%), and California (1.4%) had lower rates.

Personal income is an estimate of total gross income that an individual receives from wages, proprietor's income, rents, dividends, interest payments, and transfer payments.

For more information, please read the full release from the BEA

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