BEA: State sees significant jump in personal income
Published: September 25,2012
ACROSS MISSISSIPPI — Finally, some good news about Mississippi’s economy.
Personal income grew at a 1.2 percent annual rate in 2012’s second quarter, the federal Bureau of Economic Analysis said today. That’s sixth-highest among the states. Personal income grew 1 percent nationwide.
Workplace earnings and government payments grew faster than the nation, while dividend, interest and rent income trailed slightly. Agriculture was the top contributor to Mississippi’s strong performance.
The bureau also revised its initial estimate of Mississippi’s first quarter performance, saying personal income grew 1 percent, instead of shrinking as officials originally figured.
That income decline, along with falling payrolls, had contributed evidence that Mississippi had stumbled back into recession.
Personal income is all income received by everyone from every source, including wages, business owner profits, interest, dividends, rent and government transfers.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Ex-prison boss and businessman admit to bribery scheme
- ASA postmortem: industrial recruiting is a constant cycle of death and life
- MARTIN WILLOUGHBY — Doug Dale’s self-awareness helps lift him to top of his game
- MBJ Business Woman of the Year Top 10
- JOSH MABUS — Inbound marketing is fueled by wishful thinking
- (UPDATED — BREAKING NEWS) American Specialty Alloys won’t locate $1.2B mill in Mississippi
- Meet the MBJ's Businesswoman of the Year — Rosemary Smith, a business hotshot
- Prison won’t interrupt ex-prison chief’s retirement cash flow
- DAVID DALLAS — Delbert Hosemann: An unsung hero chooses to remain so