Archive for the 'Local Area Personal Income' Category

Local Area Personal Income: 2013

Personal income grew in 2013 in 2,695 counties, fell in 390, and was unchanged in 28. On average, personal income rose 2.0 percent in 2013 in the metropolitan portion of the United States and rose 2.1 percent in the nonmetropolitan portion. The metropolitan and nonmetropolitan portions grew 5.3 percent and 4.4 percent, respectively, in 2012. The percent change from 2012 to 2013 in personal income ranged from -35.0 percent in Lamoure County, North Dakota to 32.3 percent in Greeley County, Kansas. Inflation, as measured by the national price index for personal consumption expenditures, slowed to 1.2 percent in 2013 from 1.8 percent in 2012.

Local Area Personal Income

Per capita personal income—personal income divided by population–is a useful metric for making comparisons of the level of personal income across counties. Per capita personal income for 2013 ranged from $17,536 in Telfair County, Georgia to $121,632 in New York County, New York.

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BEA Restores Local Economic Statistics That Were Eliminated Due to 2013 Budget Sequester

On May 5th, the Bureau of Economic Analysis (BEA) restored detailed estimates on employment, farm income and expenses, and personal current transfer receipts as well as expanded industrial detail for compensation and earning for 108 industries to its Local Area Personal Income (LAPI) program.

The current transfer receipts statistics can be found in the redesigned LAPI table CA35. The redesigned table continues to include major categories such as: Social Security benefits; Medicare benefits; Military medical insurance benefits; Supplemental security income benefits; Supplemental nutrition assistance program benefits; State unemployment insurance compensation; and Veterans benefits.

The CA35 table also includes new detail on the Earned income tax credit. The CA35 table continues to be fully consistent with State tables SA35 and SQ35 which present annual and quarterly State statistics on personal current transfer receipts.

CA35 Personal current transfer receipts
LineCode Description
1000 Personal current transfer receipts (thousands of dollars)
2000 Current transfer receipts of individuals from governments
2100 Retirement and disability insurance benefits
2110 Social Security benefits
2120 Excluding Social Security benefits
2200 Medical benefits
2210 Medicare benefits
2220 Public assistance medical care benefits
2230 Military medical insurance benefits
2300 Income maintenance benefits
2310 Supplemental security income (SSI) benefits
2320 Earned Income Tax Credit (EITC)
2330 Supplemental Nutrition Assistance Program (SNAP)
2340 Other income maintenance benefits
2400 Unemployment insurance compensation
2410 State unemployment insurance compensation
2420 Excluding state unemployment insurance compensation
2500 Veterans benefits
2600 Education and training assistance
2700 Other transfer receipts of individuals from governments
3000 Current transfer receipts of nonprofit institutions
4000 Current transfer receipts of individuals from businesses

Thank you for your continued interest and support for BEA’s LAPI program. For further information about the statistics, contact the Regional Income Division at 202-606-5360, or e-mail reis@bea.gov.

BEA Introduces New Measures of the Regional Economy—Estimates of Real Personal Income for Metropolitan Areas, 2008–2012

Today, the U.S. Bureau of Economic Analysis released real, price-adjusted estimates of personal income for states and metropolitan areas for 2008-2012. The price-adjustments are based on regional price parities (RPPs) and on BEA’s national Personal Consumption Expenditure (PCE) price index. The RPPs measure geographic differences in the price levels of consumption goods and services relative to the national average, and the PCE price index measures national price changes over time. Using the RPPs in combination with the PCE price index allows for comparisons of the purchasing power of personal income across regions and over time. These estimates are being released for the first time as official statistics.*

Real-PI_metroareas_2013

Growth in real metropolitan area personal income from 2011 to 2012 ranged from a decline of 3.8% in Kennewick-Richland, WA to an increase of 10.2% in Odessa, TX. After Odessa, TX, the metropolitan areas with largest growth rates of real personal income were Midland, TX (9.6%), Greenville, NC (9.0%), Jackson, TN (8.1%), and Columbus, IN (7.6%). After Kennewick-Richland, WA, the metropolitan areas with the largest declines were Watertown-Fort Drum, NY (-2.5%), State College, PA (-2.4%), Hanford-Corcoran, CA (-2.3%), and Sierra Vista-Douglas, AZ (-1.7%).

* Prototype statistics were released for evaluation and comment by users on June 12, 2013.

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