Originally published March 26, 2008 at 12:00 AM | Page modified March 26, 2008 at 4:02 PM
PrintPersonal income growth in state tops U.S. rate
Washington had the nation's 14th-highest per-capita personal income growth last year, newly released federal data show. Per-capita personal income rose...
Seattle Times business reporter
Washington had the nation's 14th-highest per-capita personal income growth last year, newly released federal data show.
Per-capita personal income rose 5.76 percent in 2007, to $40,414, according to the Bureau of Economic Analysis. That compared to the national average growth of 5.17 percent.
Washington's per-capita personal income figure also ranked 14th in the nation, up from 15th in 2006 and 17th in 2005. It was 4.7 percent higher than the national average of $38,611.
Personal income includes all income received by individuals: wages and salaries, interest and dividend payments, rents, business income and government payments, less what people pay in Social Security and Medicare taxes.
In Washington, increases in employment earnings accounted for the bulk of the growth in overall personal income.
Copyright © 2008 The Seattle Times Company
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