North Carolina Personal Income Growth 9th Fastest in U.S.

Here’s another reason why we love NC:

Personal income growth in North Carolina outpaced the nation overall in 2015, according to the Bureau of Economic Analysis (BEA), the federal agency that tracks macroeconomic statistics.

Personal income in North Carolina grew by 4.8% last year, the 9th strongest among the 50 states and the District of Columbia. Incomes for the U.S. overall grew by 4.4%.

BEA defines personal income is the income received by all persons from all sources.

Net earnings grew by 5% in North Carolina during 2015 compared to 4.2% for the nation, BEA reported.

“Earnings in professional services grew 6.6 percent nationally, and was the leading contributor to the growth in personal income in five of the fastest growing states: California, Georgia, Colorado, North Carolina, and Tennessee,” according to the Bureau’s press release.

In March, BEA reported that North Carolina’s gross domestic product (GDP) grew by 2.8% in the third quarter of 2015, the fastest in the southeastern U.S. The nation’s GDP grew by 1.9% during the period.

Posted on 12 April 2016 by Marguerite Greene

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