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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Officials set hunting dates for birds; expands dove season by 20 days
- FLIPPING OUT — Flipping houses is popular in much of the country, but in Mississippi ...
- MBJ Special report: MDA numbers help with cities’ retail pitches
- COO of TL Wallace Construction keeps eye on revenue growth and profits
- REVVING UP — Motorcars of Jackson is preparing to open its first-ever showroom on I-55
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- Isle of Capri reports decreased in-state revenues; experiencing 'market pressures'
- Woman found guilty of murder in buttocks injection case
- Mississippi judge dismisses lawsuit seeking to overturn Sen. Cochran's GOP primary win