Question of the Month

Question of the Month -
April 2005

What are the latest personal income statistics in the SLC states?

Per capita income–the average income received by persons–grew 4.7 percent in 2004, more than double the 2.2 percent growth in the previous year, according to estimates released in late March 2005 the U.S. Bureau of Economic Analysis. This is the fastest pace since 2000 when per capita income grew 6.8 percent and all states (except South Dakota, Nebraska, and Michigan) enjoyed faster growth. Three sectors made notable contributions to faster U.S. personal income growth last year—professional services, finance, and construction.

The following table presents per capita personal income, personal income and population information for the 16 SLC states and for the U.S. as a whole.

	Per Capita Personal Income [Dollars]				Personal Income [Millions of $]		Population [In Thousands]
	2003^r	2004^p	Rank in the U.S.		2003^r	2004^p	2003^r	2004^p	% Change 2003-04
	2003^r	2004^p	2003^r	2004^p	2003^r	2004^p	2003^r	2004^p	% Change 2003-04
United States	31,472	32,937	--	--	9,151,694	9,672,205	290,789	293,655	1.0
Alabama	26,505	27,795	41	40	119,373	125,918	4,504	4,530	0.6
Arkansas	24,384	25,725	49	49	66,515	70,810	2,728	2,753	0.9
Florida	30,098	31,455	25	23	511,641	547,222	16,999	17,397	2.3
Georgia	29,000	30,051	30	34	251,621	265,330	8,676	8,829	1.8
Kentucky	26,575	27,709	40	41	109,442	114,881	4,118	4,146	0.7
Louisiana	26,312	27,581	42	42	118,236	124,551	4,494	4,516	0.5
Maryland	37,446	39,247	4	4	206,412	218,138	5,512	5,558	0.8
Mississippi	23,466	24,650	50	50	67,643	71,558	2,883	2,903	0.7
Missouri	29,464	30,608	26	29	168,512	176,137	5,719	5,755	0.6
North Carolina	28,071	29,246	37	37	236,391	249,799	8,421	8,541	1.4
Oklahoma	26,719	28,089	39	39	93,691	98,974	3,506	3,524	0.5
South Carolina	26,144	27,172	43	43	108,463	114,069	4,149	4,198	1.2
Tennessee	28,641	30,005	35	35	167,415	177,057	5,845	5,901	1.0
Texas	29,074	30,222	29	32	642,630	679,683	22,103	22,490	1.7
Virginia	33,730	35,477	10	10	248,432	264,652	7,365	7,460	1.3
West Virginia	24,542	25,872	48	48	44,456	46,966	1,811	1,815	0.2

^r revised ^p preliminary
Source: U.S. Bureau of Economic Analysis and Bureau of the Census