Wednesday, June 27, 2012

N. Dakota Leads the Country in Q1 Income Growth

From the BEA today

"State personal income growth accelerated to 0.8% in the first quarter of 2012, from 0.4% percent in the fourth quarter of 2011. Personal income rose in 47 of the 50 states, fell in Kansas and Mississippi, and was unchanged in Oklahoma. The percent change across states ranged from 2.3% in North Dakota to -0.3% in Mississippi."

MP: Once again, the energy-rich, economic miracle state of North Dakota led the country on a key economic measure, this time with the highest personal income growth in the January to March period of 2.3% (9.2% at an annual rate), almost three times the national average of 0.4%.  No. 1 North Dakota's income growth in Q1 was a full one-half percent above second place Nebraska, which had 1.8% income growth.   

4 Comments:

At 6/27/2012 8:21 AM, Blogger PeakTrader said...

It seems, over the past four years, the rich became richer, the poor became richer, and the middle class became poorer, while $5 trillion of additional federal debt maintained living standards at best.

U.S. median household income up 4% at end of 2011
2/9/2012

"Inflation-adjusted median household income increased 4%, from $49,434 to $51,413, from August to December.

The rise coincides with stronger job growth, modest wage increases, a longer workweek and easing inflation.

Real median household income is still 7% lower than it was in December 2007 and 3.9% lower than in June 2009, when the recession officially ended."

 
At 6/27/2012 8:36 AM, Blogger PeakTrader said...

If I would've been laid-off, I'd collect the maximum unemployment benefits of $450 a week for 99 weeks.

That's a good income for not working.

 
At 6/27/2012 8:45 AM, Blogger Jon Murphy said...

Did you ever think the words "economic miracle" and "North Dakota" would be used in the same sentence? Granted, I am from New England, which means all I know of North Dakota is what I saw in the movie Fargo.

 
At 6/27/2012 9:11 AM, Blogger marmico said...

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