Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, October 8, 1993 TAG: 9310080222
SECTION: BUSINESS PAGE: A-7 EDITION: METRO
SOURCE: Associated Press
DATELINE: WASHINGTON LENGTH: Medium
But the Commerce Department report released Thursday showed the lingering effects of the recession in California, which for the first time on record was not included among the 10 states with the highest incomes.
Per capita incomes grew 4.9 percent nationally last year, up from 2.7 percent in 1991 when the economy was emerging from the 1990-91 recession.
The 1991 growth had been the slowest since 1961, when incomes rose 2.5 percent, said Rudolph E. DePass of the department's Bureau of Economic Analysis. But last year's income still suffered from the sluggish recovery. It had risen 6.5 percent in 1989, the year before the recession began.
Per capita income is the annual total personal income of residents divided by the state's population on July 1. Personal income is the pretax income received by all people, minus social insurance payments.
An inflation measure tied to the report rose 3.7 percent last year, lowest since 3 percent in 1986.
Income growth outpaced price increases in all states except Florida, where it was up 2.6 percent; Delaware, 2.7 percent; California and Hawaii, 2.9 percent each; Alaska, 3.2 percent; Maryland, 3.6 percent; and Wyoming, 3.7 percent.
The income average in Florida was affected by a large decline in rental income due to damage from Hurricane Andrew.
States with the highest per capita incomes were Connecticut, $27,137; followed by New Jersey, New York, Massachusetts, Maryland, New Hampshire, Alaska and Delaware. The lowest were Mississippi, $14,128; West Virginia, New Mexico, Utah, Arkansas, Louisiana, South Carolina, Montana and Oklahoma.
by CNB