Monday, April 12, 2021

Oregon's Per Capita Personal Income Increased in 2020

Preliminary estimates from the Bureau of Economic Analysis' March 2021 News Release show Oregon’s per capita personal income (PCPI)--a measure of total income in the state from net earnings, transfer receipts, and dividends, interest, and rent, divided by the state's population--increased by 6.7% over-the-year in 2020 to $56,765. National PCPI increased by 5.8% to $59,729 during the same period. Large over-the-year increases in PCPI were driven by large increases in personal current transfer receipts, primarily through the $1.1 trillion in national CARES Act government relief payments.

As of 2020, Oregon’s PCPI relative to the nation increased to 95.0% of U.S. PCPI. Slightly larger over-the-year increases in transfer receipts (+37.3% for Oregon vs +36.6% for the U.S.) and net earnings (+0.7% vs. +0.3%) and a smaller over-the-year decrease in dividends, interest, and rent (-0.8% vs. -1.1%) all contributed to Oregon’s relative increase in PCPI.

Oregon's PCPI ranks 23rd in the nation. Connecticut has the nation's highest PCPI at $79,771, or 134% of national PCPI. Mississippi ranks last among the states at $41,745, or 70% of national PCPI.

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