Missouri 2008 Personal and Per Capita Income
According to revised data from the U.S. Bureau of Economic Analysis (BEA), Missouri’s personal income rose by 8.4 percent in 2008 to over $216 billion. The state’s growth rate was above the U.S. increase of 5.1 percent that brought the nation’s personal income to over $12 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 $1.6 trillion. New York, Texas, Florida, and Illinois round out the top five. South Dakota, Alaska, Wyoming, North Dakota, and Vermont reported the lowest personal income totals. Missouri ranked 20th in total personal income in 2008.
Missouri had the 3rd highest total personal income when compared to surrounding states. Only Illinois ($546 billion) and Tennessee ($217 billion) ranked higher.
Personal income increased in all states in 2008, with only five states reporting a growth rate of less than 3.5 percent. North Dakota had the fastest growth rate at 11.2 percent while Michigan had the lowest growth rate at 1.1 percent.
2008 Personal Income
Top 25 States ($Millions)
| State | Personal Income($) | Rank | Percent Change |
| United States | 12,086,534 | NA | 5.1% |
| California | 1,604,113 | 1 | 5.5% |
| New York | 950,209 | 2 | 5.5% |
| Texas | 918,921 | 3 | 3.9% |
| Florida | 719,708 | 4 | 2.9% |
| Illinois | 546,344 | 5 | 3.9% |
| Pennsylvania | 499,669 | 6 | 3.7% |
| New Jersey | 445,928 | 7 | 4.3% |
| Ohio | 413,732 | 8 | 4.6% |
| Michigan | 349,612 | 9 | 1.1% |
| Virginia | 346,348 | 10 | 7.2% |
| Georgia | 337,961 | 11 | 6.0% |
| Massachusetts | 333,046 | 12 | 5.1% |
| North Carolina | 325,954 | 13 | 6.9% |
| Washington | 380,678 | 14 | 5.7% |
| Maryland | 272,542 | 15 | 4.0% |
| Minnesota | 224,671 | 16 | 5.5% |
| Arizona | 223,184 | 17 | 7.0% |
| Indiana | 220,670 | 18 | 4.9% |
| Tennessee | 217,373 | 19 | 5.8% |
| Missouri | 216,547 | 20 | 8.4% |
| Wisconsin | 212,533 | 21 | 4.7% |
| Colorado | 212,320 | 22 | 6.5% |
| Connecticut | 197,024 | 23 | 2.3% |
| Louisiana | 160,659 | 24 | 4.6% |
| Alabama | 157,422 | 25 | 5.0% |
Per Capita Personal Income
Per capita personal income in Missouri increased 3.7 percent in 2008 to $36,631. Nationally, per capita income increased 2.0 percent to $40,208. Per capita income is defined as total personal income divided by total population.
Connecticut led the nation in per capita income at $56,272 followed by New Jersey ($51,358), Massachusetts ($51,254), New York ($48,753), Wyoming ($48,608), and Maryland ($48,378). Mississippi had the lowest per capita income at $30,399. Missouri ranks 30th in per capita personal income.
Missouri ranked 5th in per capita income compared to the surrounding states of Illinois ($42,347), Nebraska ($39,150), Kansas ($38,820), and Iowa ($37,402) had higher per capita income.
| 2008 Per Capita Personal Income | |||||||
| State | 2007($) | 2008($) | Percent change 2007-2008 | State | 2007($) | 2008($) | Percent change 2007-2008 |
United States |
39,430 | 40,208 | 2.0% | Missouri |
35,308 | 36,631 | 3.7% |
Alabama |
32,883 | 33,768 | 2.7% | Montana |
33,948 | 34,644 | 2.1% |
Alaska |
41,153 | 44,039 | 7.0% | Nebraska |
37,908 | 39,150 | 3.3% |
Arizona |
34,413 | 34,335 | -0.2% | Nevada |
41,145 | 41,182 | 0.1% |
Arkansas |
31,646 | 32,397 | 2.4% | New Hampshire |
42,831 | 43,623 | 1.8% |
California |
43,221 | 43,641 | 1.0% | New Jersey |
50,265 | 51,358 | 2.2% |
Colorado |
42,444 | 42,985 | 1.3% | New Mexico |
32,163 | 33,430 | 3.9% |
Connecticut |
55,609 | 56,272 | 1.2% | New York |
47,612 | 48,753 | 2.4% |
Delaware |
40,068 | 40,519 | 1.1% | North Carolina |
34,925 | 35,344 | 1.1% |
District of Columbia |
63,881 | 66,119 | 3.5% | North Dakota |
36,695 | 39,870 | 8.7% |
Florida |
39,204 | 39,267 | 0.2% | Ohio |
35,307 | 36,021 | 2.0% |
Georgia |
34,650 | 34,893 | 0.7% | Oklahoma |
34,336 | 35,985 | 4.8% |
Hawaii |
40,907 | 42,055 | 2.8% | Oregon |
35,712 | 36,297 | 1.6% |
Idaho |
32,905 | 33,074 | 0.5% | Pennsylvania |
39,058 | 40,140 | 3.9% |
Illinois |
41,569 | 42,347 | 1.9% | Rhode Island |
40,219 | 41,368 | 2.9% |
Indiana |
33,756 | 34,605 | 2.5% | South Carolina |
31,048 | 31,884 | 2.7% |
Iowa |
35,699 | 37,402 | 4.8% | South Dakota |
36,489 | 38,661 | 6.0% |
Kansas |
37,389 | 38,820 | 3.8% | Tennessee |
34,287 | 34,976 | 2.0% |
Kentucky |
31,206 | 32,076 | 2.8% | Texas |
36,829 | 37,774 | 2.6% |
Louisiana |
35,363 | 36,424 | 3.0% | Utah |
31,739 | 31,944 | 0.6% |
Maine |
35,078 | 36,457 | 3.9% | Vermont |
37,717 | 38,686 | 2.6% |
Maryland |
47,050 | 48,378 | 2.8% | Virginia |
43,275 | 44,224 | 2.2% |
Massachusetts |
49,885 | 51,254 | 2.7% | Washington |
42,020 | 42,857 | 2.0% |
Michigan |
34,1882 | 34,949 | 2.2% | West Virginia |
30,144 | 31,641 | 5.0% |
Minnesota |
41,764 | 43,037 | 3.0% | Wisconsin |
37,008 | 37,767 | 2.1% |
Mississippi |
29,549 | 30,399 | 2.9% | Wyoming |
46,741 | 48,608 | 4.0% |
The fastest per capita personal income growth was in North Dakota, increasing by 8.7 percent, followed by Alaska (7.0%), South Dakota (6.0%), West Virginia (5.0%), Iowa (4.8%), and Oklahoma (4.8%). Arizona had the lowest growth at- 0.2 percent. Missouri reported a growth rate at 3.7 percent.
All per capita personal income estimates are in current dollars (not adjusted for inflation).
Source: U.S. Bureau of Economic Analysis
