Washington state had the second-highest personal income growth in the country in the second quarter, according to data released Thursday...
Washington state had the second-highest personal income growth in the country in the second quarter, according to data released Thursday by the U.S. Bureau of Economic Analysis.
Total personal income in Washington grew 1.76 percent last quarter, reaching a seasonally adjusted annual level of $258 billion. Only Utah’s growth rate, at 2 percent, was higher
Although Washington’s income growth was slightly lower than the 1.78 percent posted in the first quarter, the state held up much better than most states and the nation as a whole.
Nationally, personal income growth slowed to 1.19 percent in the second quarter, from 2.49 percent in the first quarter; income from bonuses skewed the first-quarter results somewhat.
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Between the second quarter of 2006 and the second quarter of 2007, total personal income in Washington rose by 7.2 percent, compared with 6.36 percent for the nation as a whole; the state’s growth rate it was the ninth-fastest in the country.