Useful Stats: Per Capita Personal Income by State, 2010-2015

North Dakota led the country in per capita personal income gains between 2010-2015, according to data released by the Bureau of Economic Analysis (BEA). While average (mean) incomes rose 18.4 percent around the U.S. during that time, North Dakota incomes rose by 26.8 percent from $42,964 in 2010 to $54,376 in 2015. Changes in mean income can obscure discrepancies between demographic groups and concentration of wealth, but demonstrate some of the key economic trends of the last few years. For example, oil, coal and natural gas rich states, including North Dakota, experienced strong income growth in the early part of the decade, which has since leveled off or reversed. Meanwhile, income growth has begun to shift to states with a stronger foothold in healthcare and professional services, as well as the West and Southeast.

For the U.S. as a whole, per capita personal income rose from $40,277 in 2010 to $47,669 in 2015. California, Wyoming, Oklahoma, and Arkansas ranked alongside North Dakota in personal income growth during that period, with growth levels ranging from 22 percent to 24 percent. Despite meager growth over the five-year data, the District of Columbia continues to have the higher per capita income in the country with $71,496. Connecticut, Massachusetts, New Jersey and New York round out the top five. The highest income levels remain concentrated in New England and the Middle Atlantic regions, while the Southeast is home to the lowest income states.

The 2010-2015 span encompasses the economic recovery following the Great Recession. In 2009, average income had actually declined for most states and the U.S. as a whole. The 2010-2012 represented a return to growth after several years of decline or stagnation. During that time, energy-focused economies in the Plains, Southwest and Rocky Mountains posted exceptionally large income gains, since the recovery coincided with the gas and oil boom. Total personal income (not per capita) grew by 7.1 percent in the Southwest between 2010-2011 and 5.1 percent the following year. Plains region incomes grew by 6.8 percent in 2010-11 and 4.5 percent in 2011-12. Similar gains were made during the same period in the Far West and Rocky Mountain States.

That surge ended in 2012-2013, when no region gained more than one percent overall. Growth resumed in 2013-2014, but the Far West and New England led, and growth stalled in the Plains states. Progress was mixed in the Southwest and Southeast.

BEA’s release focuses on 2014-15 state personal income growth (not per capita), which grew an average of 4.4 percent. National growth was led by earnings in professional, technical and scientific services, which rose by 6.6 percent, and healthcare, which rose 4.5 percent. Construction also continued to recover, jumping 8.5 percent. Meanwhile, mining earnings fell by 5.2 percent, dampening the early decade gains made by energy-focused states, including North Dakota, Wyoming, West Virginia and Oklahoma.

Read the BEA release at http://bea.gov/newsreleases/regional/spi/spi_newsrelease.htm.

Download the table below in Excel format at: http://ssti.org/sites/default/files/per%20cap%20income.xlsx

Per Capita Personal Income by State, 2010-2015
Source: Bureau of Economic Analysis, prepared by SSTI