Policy Analysis | July 2011

What changes have SLC states seen in annual income rates over the past 50 years?

Disposable income, defined by the U.S. Department of Commerce as all money earned by all residents of a state in a given year, minus all income taxes and property taxes, has risen at an annual rate of 7.88 percent in the SLC region, compared to the national rate of 7.14 percent. Within the SLC, Florida experienced the fastest increase (9.02 percent per year), whereas disposable income in West Virginia grew the slowest (6.20 percent per year).

Average Annual Growth Rate of Disposable Income in SLC Member States and Region, 1960-2010

(click on headers to sort by column)

State 1960 1970 1980 1990 2000 2010 Annual Growth Rate (1960-2010)
Alabama 4,594,145 9,183,936 27,126,560 56,468,172 95,076,568 149,904,988 7.22%
Arkansas 2,303,101 4,918,218 15,337,530 30,466,715 53,655,678 89,129,913 7.59%
Florida 9,117,785 24,365,448 86,119,314 226,749,898 407,470,918 684,611,189 9.02%
Georgia 6,026,948 13,768,792 40,583,679 100,453,337 202,508,868 315,033,052 8.23%
Kentucky 4,438,294 9,080,056 26,282,508 50,033,667 87,964,482 132,463,737 7.03%
Louisiana 4,999,925 10,173,438 32,388,150 57,781,395 94,173,887 159,896,187 7.18%
Mississippi 2,476,159 5,287,528 15,915,984 30,787,540 55,516,465 86,512,557 7.37%
Missouri 8,427,554 15,837,946 39,987,891 79,456,439 136,425,998 202,503,716 6.57%
North Carolina 6,730,135 14,708,172 42,234,447 100,923,661 195,950,150 310,542,398 7.96%
Oklahoma 4,037,052 7,951,860 25,116,579 44,617,974 75,031,048 125,658,073 7.12%
South Carolina 3,123,724 7,121,436 21,439,154 49,171,833 89,182,548 142,057,606 7.93%
Tennessee 5,278,966 11,152,902 33,922,750 73,436,061 136,937,882 210,345,583 7.65%
Texas 16,887,978 36,141,237 122,640,886 263,742,047 527,136,382 914,149,460 8.31%
Virginia 6,746,031 15,226,057 46,878,960 110,256,406 190,257,505 321,528,073 8.03%
West Virginia 2,747,417 4,809,107 13,808,964 23,138,112 35,805,396 55,547,358 6.20%
SLC 87,935,214 189,726,133 589,783,356 1,297,483,257 2,383,093,775 3,899,883,890 7.88%
United States 362,195,000 729,812,000 1,994,796,000 4,239,944,000 7,323,689,000 11,364,177,184 7.14%

Sources:

Regional Economic Information System, Bureau of Economic Analysis, U.S. Department of Commerce

http://www.bea.gov/regional/docs/footnotes.cfm?tablename=SA51-53

Regional Economic Information System

Bureau of Economic Analysis

'March 2011'

Thomas, Scott. "Nevada, Arizona are big winners in income growth during half-century." The Business Journals, May 23, 2011. Last accessed on July 1, 2011.