MERIC NEWS LETTER

Missouri Per Capita Income Growth 
Highest since 2000

Revised personal income data from the U.S. Bureau of Economic Analysis show that per capita personal income in Missouri increased by 4.5% in 2004 to $30,516. This was Missouri's largest annual per capita increase since 2000. Nationally, per capita income increased 4.9% to an average of $33,041.

Connecticut led the nation in per capita income at $45,506. Other top per capita income states were Massachusetts, New Jersey, Maryland and New York. Mississippi had the lowest per capita income at $24,379. Missouri ranked 31st among the states in per capita personal income.

Missouri had the 5th highest per capita income compared to the surrounding states. Illinois ($34,725), Nebraska ($32,276), Kansas ($31,003) and Iowa ($30,970) ranked higher.

The fastest growing state was Iowa, increasing by 8.4%. Also in the five fastest growing states were Hawaii, New York, Washington and Virginia.

In total personal income, Missouri's figure rose 5.2% in 2004 to $175.6 billion. The state's growth rate was just below the increase of 6.0% that brought the nation's personal income in 2004 to over $9.7 trillion.

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

See the full report.

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