Washington had the nation's 14th-highest per-capita personal income growth last year, newly released federal data show. Per-capita personal income rose...
Washington had the nation’s 14th-highest per-capita personal income growth last year, newly released federal data show.
Per-capita personal income rose 5.76 percent in 2007, to $40,414, according to the Bureau of Economic Analysis. That compared to the national average growth of 5.17 percent.
Washington’s per-capita personal income figure also ranked 14th in the nation, up from 15th in 2006 and 17th in 2005. It was 4.7 percent higher than the national average of $38,611.
Personal income includes all income received by individuals: wages and salaries, interest and dividend payments, rents, business income and government payments, less what people pay in Social Security and Medicare taxes.
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In Washington, increases in employment earnings accounted for the bulk of the growth in overall personal income.