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Personal income growth slowed in 2012 in most of the nation’s 381 metropolitan statistical areas (MSAs), according to estimates released today by the U.S. Bureau of Economic Analysis. Personal income growth slowed in 311 MSAs, accelerated in 65 MSAs, and remained unchanged in 5 MSAs. On average, MSA personal income rose 4.2 percent in 2012, after growing 6.0 percent in 2011. Personal income growth ranged from 12.1 percent in Midland, Texas to -1.6 percent in Yuma, Arizona, one of only five MSAs where personal income declined in 2012. Inflation, as measured by the national price index for personal consumption expenditures, slowed to 1.8 percent in 2012 from 2.4 percent in 2011.

The U.S. Census Bureau said retail and food services sales increased 3.9 percent compared with the previous October.

By the U-6 measure, California’s employment distress rate is 18.3 percent for the 12 months ending June 30, according to a new report by the Bureau of Labor Statistics. California’s rate is second only to Nevada’s 19 percent and four percentage points higher than the national rate of 14.3 percent.

The SPM extends the official poverty measure by taking account of many of the government programs designed to assist low-income families and individuals that are not included in the current official poverty measure.

Personal income increased $67.4 billion, or 0.5 percent, and disposable personal income (DPI) increased $64.8 billion, or 0.5 percent, in September, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $24.7 billion, or 0.2 percent. In August, personal income increased $65.6 billion, or 0.5 percent, DPI increased $66.3 billion, or 0.5 percent, and PCE increased $39.8 billion, or 0.3 percent, based on revised estimates.

California students performed about the same in reading and math on this year’s National Assessment of Educational Progress as they did in 2011, ranking among the 10 lowest performing states in the country.

Stronger economic growth in the third quarter masked weak spending by consumers and businesses, the latest sign of a U.S. economy struggling to gain traction as the recovery entered its fifth year.

The number of people filing new jobless claims across the country dropped by 9,000 to 336,000, according to a weekly report from the U.S. Department of Labor. California saw a large drop in new claims.

California and Nevada are among the U.S. states with the highest poverty rates, according to new data that takes into account more cost of living measures, the Phoenix Business Journal reports.

Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 2.8 percent in the third quarter of 2013 (that is, from the second quarter to the third quarter), according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 2.5 percent.

Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 2.8 percent in the third quarter of 2013 (that is, from the second quarter to the third quarter), according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 2.5 percent.

The nation’s poverty rate was 16.0 percent in 2012, unchanged from 2011, according to the supplemental poverty measure released today by the U.S. Census Bureau. The 2012 rate was higher than the official measure of 15.0 percent. The official poverty rate in 2012 was also not significantly different from the corresponding rate in 2011.

The nation’s poverty rate was 16.0 percent in 2012, unchanged from 2011, according to the supplemental poverty measure released today by the U.S. Census Bureau. The 2012 rate was higher than the official measure of 15.0 percent. The official poverty rate in 2012 was also not significantly different from the corresponding rate in 2011.

U.S. factories notched their fifth straight month of expansion in October, bucking expectations that the federal government’s 16-day shutdown would chill activity.

Jobless claims decreased by 10,000 to 340,000 in the week ended Oct. 26 from 350,000 the prior period, the Labor Department reported today in Washington. The median forecast of 49 economists surveyed by Bloomberg called for a decrease to 338,000. California said no claims last week represented applications from prior weeks, a Labor Department spokesman said as the figures were released to the press.