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Personal Income Grew in Most States in 1Q 2017

At the Washington Free Beacon today, Ali Meyer reports, "In 42 states, personal income grew from the past year, even after adjusting for inflation, according to a report from Pew Charitable Trusts."

She explained further, writing:

"Personal income includes wages and salaries, benefits from Social Security, Medicare, and Medicaid, as well as employers' contributions to retirement plans, contributions to health insurance, and income from property and rent.

"On average, personal income grew across all states by 1.8 percent, but some states saw growth as high as 2.9 percent.

"Compared with the previous year, Idaho, Washington, and Utah saw personal income grow by 2.9 percent. According to the report, personal income fell in Wyoming, North Dakota, Nebraska, Oklahoma, Alaska, Vermont, Iowa, and West Virginia, due to manufacturing, farming, state and local government, and construction weaknesses.

"The study also evaluated how personal growth has fluctuated since the recession began in 2007. The group found that personal income growth has recovered unevenly since this time with certain states growing faster than others.

"For example, there were 17 states in which personal income grew faster than the nation as a whole since the end of 2007. North Dakota's personal income has grown 4.2 percent since the recession, Texas's has increased 2.9 percent, Utah's has increased 2.6 percent, Colorado's has increased 2.3 percent, and California's has increased 2.2 percent.

"One of the longest U.S. economic expansions has lifted personal income in all states above pre-recession levels," the report states. "But growth has varied, ranging from a constant annual rate of 0.7 percent in Illinois and Nevada to 4.2 percent in North Dakota."

The Pew Charitable Trusts report, "Slow Growth for State Personal Income Persists in 2017, " provides even more detailed data, including downloadable data, which includes data by state.

For example, personal income grew, nationally, at a 1.7% annual rate since Q4 2007. By comparison, Virginia's personal income grew at 1.6%.

Over the past year, however, the growth of personal income in Virginia did much better than the national average. While the national growth rate over the past year -- Q1 2016 to Q1 2017 -- was 1.8%, Virginia's personal income growth was 2.4%.

[Map showing the 42 states whose personal income grew over the past year was deleted, but is available in the Pew Charitable Trusts report. here.

Growls readers who are concerned about Virginia's economic growth should take a few minutes to write to Governor McAuliffe. Click-on the following link:

Growls readers may also want to write to their state legislators. The following legislators represent Arlington County in the Virginia General Assembly: Senators (Adam Ebbin, Barbara Favola, or Janet Howell) and Delegates (Rip Sullivan, Patrick Hope, Alfonso Lopez, or Mark Levine). Contact information for members of the General Assembly can be found here  -- use one of the "quick links" to locate the senator and delegate who represent you.

And tell them ACTA sent you.

To learn more about the Pew Charitable Trusts, click here.

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