Missouri 2016 Personal and Per Capita Income

In 2016, Missouri’s personal income was $266.4 billion, a 3.5 percent increase from the 2015 personal income, according to data from the U.S. Bureau of Economic Analysis (BEA). The nation’s personal income rose 3.6 percent annually to over $16.0 trillion.

Personal income is defined as the income received by all persons from net earnings, property interest income, and transfer payments. 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 $2.2 trillion. Texas, New York, Florida, and Illinois round out the top five; Missouri ranked 22nd in total state personal income.

2016 Top 25 States Personal Income
($ Millions)
Rank Area 2016 Percent Change 2015 to 2016
  United States $16,017,781 3.6%
1 California $2,197,492 4.5%
2 Texas $1,327,261 2.9%
3 New York $1,195,263 2.9%
4 Florida $944,443 4.9%
5 Illinois $666,936 3.1%
6 Pennsylvania $655,506 2.9%
7 New Jersey $554,268 3.2%
8 Ohio $521,209 3.0%
9 Virginia $451,912 3.6%
10 Massachusetts $443,701 4.3%
11 Michigan $440,292 3.6%
12 Georgia $431,331 4.8%
13 North Carolina $426,189 4.1%
14 Washington $389,859 4.8%
15 Maryland $348,570 3.7%
16 Tennessee $288,531 3.9%
17 Indiana $288,487 3.9%
18 Colorado $288,433 3.9%
19 Minnesota $287,682 3.0%
20 Arizona $278,925 4.3%
21 Wisconsin $273,189 3.1%
22 Missouri $266,406 3.5%
23 Connecticut $254,048 3.0%
24 Louisiana $203,592 1.5%
25 South Carolina $195,791 4.4%

 

Wages & Salaries accounted for 63 percent of Missouri personal income in 2016. Transfer Payment accounted for 20 percent and Dividends, Interest & Rent accounted for 17 percent. The percentage breakdown of personal income has been consistent since the end of the last recession in 2009. The US had 64 percent of personal income accounted for by Wages & Salaries, 17 percent by Transfer Payments and 19 percent by Dividends, Interest & Rent.

Per Capita Income 2016 of Missouri and Surrounding States

 

Per Capita Personal Income

Per capita income is defined as total personal income divided by total population. Per capita personal income in Missouri was $43,723 in 2016, up from $42,352 in 2015.

The District of Columbia led the nation in per capita income at $75,596, followed by Connecticut, Massachusetts, New Jersey, and New York; Missouri ranked 34th in the US.

Per Capita Income 2016
Area Dollars Area Dollars
United States $49,571 Wisconsin $47,275
District of Columbia $75,596 Iowa $46,794
Connecticut $71,033 Florida $45,819
Massachusetts $65,137 Oklahoma $45,682
New Jersey $61,968 Oregon $45,049
New York $60,534 Ohio $44,876
New Hampshire $58,322 Michigan $44,347
Maryland $57,936 Maine $44,316
California $55,987 Missouri $43,723
Alaska* $55,307 Nevada $43,637
Wyoming $55,212 Indiana $43,492
North Dakota $55,038 Louisiana $43,487
Virginia $53,723 Tennessee $43,380
Washington $53,493 Montana $42,386
Minnesota $52,117 North Carolina $42,002
Illinois $52,098 Georgia $41,835
Colorado $52,059 Utah $40,744
Rhode Island $51,576 Arizona $40,243
Pennsylvania $51,275 Kentucky $39,499
Hawaii* $50,551 South Carolina $39,465
Vermont $50,321 Arkansas $39,345
Nebraska $49,636 Alabama $39,231
Delaware $48,697 Idaho $39,107
Kansas $48,537 New Mexico $38,807
South Dakota $48,049 West Virginia $37,386
Texas $47,636 Mississippi $35,936

Missouri’s per capita income annual growth rate of 3.2 percent was higher than the national average of 2.9 percent from 2015 to 2016. New Hampshire had the highest per capita income annual growth at 4.3 percent. Hawaii (4.2 percent), Nevada (3.9 percent), Massachusetts (3.9 percent) and California (3.8 percent) also saw relatively high levels of per capita income growth in 2016.

US PerCapita Map 2015-2016

Missouri had per capita income annual growth rates over 3 percent in five of the last six years (2010-2016), with a compound annual growth rate of 2.9 percent in that time.

 PerCapita Chart 2007-2016

 

 

 

Source: Bureau of Economic Analysis
Note-- All dollar estimates are in current dollars (not adjusted for inflation).


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