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%

PCI Graph 2008

 

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.

Percent Change Personal PerCapita Income Map for 2008
 

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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