Missouri 2007 Personal and Per Capita Income

According to revised data from the U.S. Bureau of Economic Analysis (BEA), Missouri’s personal income rose by 4.3 percent in 2007 to over $199 billion. The state’s growth rate was below the U.S. increase of 6.1 percent that brought the nation’s personal income to over $11.6 trillion last year.

Personal income is defined as the income received by all persons from participation in production, from government and business transfer payments, and from interest. Personal income is measured before the deduction of taxes and is reported in current dollars.

California led the nation in total personal income with more than $1.5 trillion. New York, Texas, Florida, and Illinois round out the top five. South Dakota, Alaska, Wyoming, Vermont, and North Dakota reported the lowest personal income totals. Missouri ranked 21st in total personal income in 2007.


Missouri had the 3rd highest total personal income when compared to surrounding states. Only Illinois ($526 billion) and Tennessee ($205 billion) ranked higher.

Personal income increased in all states in 2007, with only eleven states reporting a growth rate of less than 5 percent. Wyoming had the fastest growth rate at 17.7 percent while Michigan had the lowest growth rate at 1.4 percent.

2007 Personal Income
Top 25 States (Millions)
State Personal Income ($) Rank Percent Change
United States 11,631,571 N/A 6.1%
California 1,519,875 1 5.9%
New York 900,511 2 6.1%
Texas 884,601 3 7.3%
Florida 699,314 4 5.4%
Illinois 525,919 5 7.0%
Pennsylvania 481,641 6 5.5%
New Jersey 427,674 7 5.8%
Ohio 395,710 8 3.8%
Michigan 345,885 9 1.4%
Virginia 320,522 10 6.0%
Georgia 318,950 11 6.4%
Massachusetts 316,954 12 6.4%
North Carolina 305,023 13 6.5%
Washington 265,605 14 9.1%
Maryland 262,072 15 6.6%
Minnesota 212,941 16 6.3%
Indiana 210,358 17 3.4%
Arizona 208,545 18 5.9%
Tennessee 205,469 19 5.3%
Wisconsin 203,008 20 6.0%
Missouri 199,773 21 4.3%
Colorado 199,414 22 6.0%
Connecticut 192,570 23 8.2%
Louisiana 153,570 24 14.2%
Alabama 149,949 25 5.7%

 

Per Capita Personal Income

Per capita personal income in Missouri increased 3.6 percent in 2007 to $33,984. Nationally, per capita income increased 5.0 percent to an average of $38,564. Per capita income is defined as total personal income divided by total population.

Connecticut led the nation in per capita income at $54,984 followed by New Jersey ($49,238), Massachusetts ($49,142), Wyoming ($47,038), and New York ($46,664). Mississippi had the lowest per capita income at $28,527. Missouri ranks 34th in per capita personal income.

Missouri ranked 6th in per capita income compared to the surrounding states of Illinois ($40,919), Kansas ($36,483), Nebraska ($36,189) Oklahoma ($34,910), and Iowa ($34,796) had higher per capita income.

 Per Capita Personal Income
State 2006($)  2007($) Percent change 2006-2007 State 2006($)  2007($) Percent change 2006-2007
United States 36,714 38,564 5.0% Missouri 32,789 33,984 3.6%
Alabama 30,894 32,401 4.9% Montana 30,790 33,145 7.6%
Alaska 38,138 39,934 4.7% Nebraska 34,440 36,189 5.1%
Arizona 31,936 32,900 3.0% Nevada 38,994 39,649 1.7%
Arkansas 28,473 30,100 5.7% New Hampshire 39,753 41,444 4.3%
California 39,626 41,580 4.9% New Jersey 46,763 49,238 5.3%
Colorado 39,491 41,019 3.9% New Mexico 29,929 30,604 2.3%
Connecticut 50,762 54,984 8.3% New York 44,027 46,664 6.0%
Delaware 39,131 40,058 2.4% North Carolina 32,247 33,663 4.4%
Florida 36,720 38,316 4.3% North Dakota 32,763 35,955 9.7%
Georgia 32,095 33,416 4.1% Ohio 33,320 34,509 3.6%
Hawaii 37,023 39,060 5.5% Oklahoma 32,391 34,910 7.8%
Idaho 29,920 31,703 6.0% Oregon 33,299 35,027 5.2%
Illinois 38,409 40,919 6.5% Pennsylvania 36,825 38,740 5.2%
Indiana 32,288 33,152 2.7% Rhode Island 37,523 39,712 5.8%
Iowa 33,038 34,796 5.3% South Carolina 29,767 31,048 4.3%
Kansas 34,799 36,483 4.8% South Dakota 32,030 35,664 11.3%
Kentucky 29,729 30,787 3.6% Tennessee 32,172 33,373 3.7%
Louisiana 31,821 35,770 12.4% Texas 35,166 37,006 5.2%
Maine 32,095 33,962 5.8% Utah 29,406 30,090 2.3%
Maryland 43,788 46,646 6.5% Vermont 34,871 37,446 7.4%
Massachusetts 46,299 49,142 6.1% Virginia 39,540 41,561 5.1%
Michigan 33,788 34,342 1.6% Washington 38,212 41,062 7.5%
Minnesota 38,859 40,969 5.4% West Virginia 28,206 29,293 3.9%
Mississippi 27,028 28,527 5.5% Wisconsin 34,405 36,241 5.3%
District of Columbia 57,746 61,397 6.3% Wyoming 40,655 47,038 15.7%


 

The fastest per capita personal income growth was in Wyoming, increasing by 15.7 percent, followed by Louisiana (12.4%), South Dakota (11.3%), North Dakota (9.7%), Connecticut (8.3%), and Oklahoma (7.8%). Michigan had the lowest growth at 1.6 percent. Missouri reported a growth rate at 3.6 percent.

Per Capita Personal Income Map of the US
 

All per capita personal income estimates are in current dollars (not adjusted for inflation).
Source: U.S. Bureau of Economic Analysis



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