Virginia records below-average growth in personal income
- September 22, 2011
Personal income grew by only 1 percent in Virginia during the second quarter, a figure below the national average.
The federal Bureau of Economic Analysis released statistics Thursday showing that state personal income growth had slowed from 2.1 percent in the first quarter to 1.1 percent in the second three months of the year.
The agency defines personal income as the income received by all personals from all sources.
Growth among the 50 states ranged from 2.2 percent in Nebraska and South Dakota to 0.7 percent in Washington and Georgia.
Virginia’s 1 percent personal income growth rate in second quarter ranked it 39th among the states. In the 12-state Southeast region only Georgia ranked lower. The region average was 1.1 percent.
Among neighboring states, Tennessee recorded a growth rate of 1.3 percent while Maryland, Kentucky and West Virginia were at 1.2 percent, and North Carolina was a 1.1 percent. The District of Columbia had a growth rate of 1.2 percent.