State Personal Income 2014

Average state personal income growth accelerated to 3.9 percent in 2014 from 2.0 percent in 2013, according to estimates released today by the U.S. Bureau of Economic Analysis. Growth of state personal income–the sum of net earnings by place of residence, property income, and personal current transfer receipts–ranged from 0.5 percent in Nebraska to 5.7 percent in Alaska and Oregon, with 45 states growing faster in 2014 than in 2013. Inflation, as measured by the national price index for personal consumption expenditures, was 1.3 percent in 2014 and 1.2 percent in 2013.