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1993-08-27
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FOR WIRE TRANSMISSION: 9:00 A.M. EDT, TUESDAY, APRIL 27, 1993
Rudolph E. DePass: (202) 523-0955 (Analysis) BEA 93-14
Kathy Albetski: 254-6630 (Estimates)
PER CAPITA PERSONAL INCOME GROWTH PICKED UP IN 44 STATES IN 1992
Forty-four states and all regions shared in an acceleration in the growth
of the nation's per capita personal income in 1992, according to preliminary
estimates by the Commerce Department's Bureau of Economic Analysis. This
acceleration followed two years of decelerating growth in U.S. per capita income.
The nation's per capita income increased 3.9 percent in 1992 after
increasing 2.4 percent in 1991. Per capita income for the nation was $19,841 in
1992, up from $19,091 in 1991.
The three states with the largest acceleration in per capita income growth
in 1992 were the farm states of North Dakota, Nebraska, and Iowa (see table 1).
The six states that did not share in the acceleration were Montana, South Dakota,
Louisiana, Wyoming, Texas, and Hawaii.
In North Dakota, Nebraska, and Iowa, large increases in farm income in 1992
following declines in 1991 boosted per capita income growth. North Dakota had
a large pickup in wheat production, and Nebraska and Iowa had large pickups in
corn production.
In Montana and South Dakota, large declines in farm income held back per
capita income growth in 1992. In Louisiana, Wyoming, and Texas, changes in
earnings in mining and in manufacturing were smaller in 1992 than in 1991. In
Hawaii, damage from Hurricane Iniki and slowdowns in earnings growth in
construction and in trade contributed to slow per capita income growth in 1992.
In 38 states, the increase in per capita income in 1992 exceeded the 3.2-
percent increase in U.S. prices (as measured by the fixed-weighted price index
for personal consumption expenditures). In contrast, in 1991, in only three
states did per capita income growth exceed a 4.4-percent increase in U.S. prices.
Regional per capita income growth
All regions shared in the acceleration in the nation's per capita income
growth in 1992. Pickups were relatively large in the Great Lakes, Plains, New
England, and Mideast regions and relatively small in the Southwest, Rocky
Mountain, Southeast, and Far West regions.
In New England and the Mideast, although the pickups in per capita income
growth in 1992 were large, growth in personal income remained below the U.S.
average for the fourth consecutive year; these regions were hard hit by cutbacks
in defense spending in the late 1980's and by the 1990-91 recession. In the
Southwest, Rocky Mountain, and Southeast regions, although the pickups in per
capita income growth were small, growth in personal income was above the U.S.
average in both 1991 and 1992; these regions were less affected by the recent
recession.
Rankings of states by the level of per capita income
The rankings of states by per capita income changed little between 1991 and
1992. The 10 states with the highest per capita incomes in 1992 were:
Dollars ---- Rank ----
1992 1992 1991
Connecticut........ 26,979 1 1
New Jersey......... 26,457 2 2
Massachusetts...... 24,059 3 3
New York........... 23,534 4 4
Maryland........... 22,974 5 5
New Hampshire...... 22,934 6 6
Illinois........... 21,608 7 11
Alaska............. 21,603 8 7
Delaware........... 21,451 9 9
California......... 21,278 10 10
Illinois' substantially higher ranking in 1992 than in 1991 reflected a large
increase in farm income.
The 10 states with the lowest per capita incomes in 1992 were:
Dollars ---- Rank ----
1992 1992 1991
Oklahoma........... 16,198 41 41
Idaho.............. 16,067 42 44
Montana............ 16,062 43 38
South Carolina..... 15,989 44 43
Louisiana.......... 15,712 45 45
Arkansas........... 15,439 46 47
New Mexico......... 15,353 47 46
Utah............... 15,325 48 48
West Virginia...... 15,065 49 49
Mississippi........ 14,088 50 50
Montana's substantially lower ranking in 1992 than in 1991 reflected a large
decline in farm income.
Definitions
Personal income is the income received by persons from all sources --
private and government wage and salary disbursements, other labor income, farm
and nonfarm proprietors' income, rental income of persons, personal dividend
income, personal interest income, and transfer payments -- less personal
contributions for social insurance. Personal income is measured before the
deduction of personal income taxes and other personal taxes and is reported in
current dollars (no adjustment is made for price changes).
Earnings is the sum of wage and salary disbursements, other labor income,
and proprietors' income.
Per capita personal income is the annual total personal income of residents
divided by resident population as of July 1.
Private service-type industries consist of wholesale and retail trade, the
finance-insurance-real estate group, the transportation-public utilities group,
and services.
* * *
Additional data on total and per capita personal income for regions and
states will appear in the April issue of the Survey of Current Business, the
monthly journal of the Bureau of Economic Analysis. The Survey of Current
Business is available from the Superintendent of Documents, U.S. Government
Printing Office, Washington, D.C. 20402. First class mail: annual subscription
$89.00 domestic. Second class mail: annual subscription $43.00 domestic, $53.75
foreign; single issue $11.00 domestic, $13.75 foreign.
* * *
This and other BEA news releases are available by FAX through the Commerce
Department's Economic Bulletin Board (EBB). Users may dial 1-900-786-2329 from
their facsimile machine's touch-tone telephone and follow the instructions. The
user's cost is $0.65 per minute, and charges for the service will appear on the
user's regular telephone bill. The service is available 24 hours a day, 7 days
a week. BEA news releases also are available electronically through the EBB at
a nominal charge. For more information on these services, users may call (202)
482-1986.
* * *
Because of a move to a new location this summer, BEA is changing the
scheduled dates for several of its national and regional news releases. Because
BEA's regional estimates depend on estimates from its national income and product
accounts (NIPA's), a rescheduling of the annual NIPA revision from July to August
will cause the following changes in the scheduled release dates for State
personal income:
From To
State per capita personal income, 1992 (revised)... August 24 October 7
State personal income, second quarter 1993......... October 21 November 18
* * *
Next release date -- July 22, at 9:00 A.M. EDT, for:
State Personal Income: First Quarter 1993