Virginia personal income keeps pace with national average
- September 30, 2013
State personal income in Virginia kept pace with the national average during the second quarter, according to a report by the U.S. Bureau of Economic Analysis.
Personal income rose 1 percent during the period from April through June, even with the average growth rate among the 50 states.
Personal income is defined by the federal agency as income received by all persons from all sources.
Virginia recorded $403.3 billion in total personal income in the second quarter, up from $399.3 billion in the first quarter.
Virginia’s 1 percent growth rate ranked 20th in the nation. Virginia’s growth rate was fifth highest among states in the Southeast, behind Florida, which was second; Louisiana, fourth; Tennessee, 12th; and South Carolina, 15th.
Among other neighboring states, Maryland ranked 19th; West Virginia, 34th; North Carolina, 35th; and Kentucky, 43rd.