05/10/2024

Income Growth Averaged 4.4% Last Year. How Did Your State Do?

Personal-income growth across the U.S. last year reflected broader economic trends, with construction and the service-sector propelling earnings, especially in the Southeast and along the West Coast. Crashing commodity prices, meanwhile, were a drag in states with big farming or energy sectors.

State personal income, a broad measure that includes earnings, property income and government benefits, grew on average 4.4% from 2014 to 2015, the same as the prior year, the Commerce Department said on Thursday.

Professional and business services, health care and construction contributed the most to overall income growth in 2015.

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