Posts Tagged 'local area personal income'



Some Local Economic Statistics Eliminated Due to 2013 Budget Sequester

You probably noticed that today’s release of the Bureau of Economic Analysis’ (BEA) local area personal income statistics is missing some detail that’s normally included.  Why?

Automatic budget cuts due to the 2013 sequester forced BEA to eliminate some data from the release, including detailed county-level statistics showing how much income people received from specific transfer receipts programs (unemployment benefits, Social Security, and Medicare); information on the categories of farm income and expenses; and data on the number of people employed by industry and the average wage per job.

BEA laid out the impact of the 2013 budget sequester on its local area personal income (LAPI) statistics on June 19.  Today’s release is the first LAPI report affected by the automatic budget cuts.

BEA also scaled back some of the local statistical detail normally provided. For instance, today’s report contains detailed compensation and earnings information for 25 industries, instead of the usual 108.

For more information on how BEA’s LAPI statistics were affected by the 2013 sequester, please visit BEA’s Web site.

You can still access historical LAPI statistics that were produced before the detail was eliminated or reduced. Those statistics (which cover the period of 1969–2011 and were published November 2012) are available at http://www.bea.gov/regional/histdata, under the heading Local Area Personal Income.

Local Area Personal Income: Metropolitan Areas, 2001–2012

Personal income growth slowed in 2012 in most of the nation’s 381 metropolitan statistical areas (MSAs). Personal income growth slowed in 311 MSAs, accelerated in 65 MSAs, and remained unchanged in 5 MSAs. On average, MSA personal income rose 4.2 percent in 2012, after growing 6.0 percent in 2011. Personal income growth ranged from 12.1 percent in Midland, TX, to –1.6 percent in Yuma, AZ, one of only five MSAs where personal income declined in 2012. Inflation, as measured by the national price index for personal consumption expenditures, slowed to 1.8 percent in 2012 from 2.4 percent in 2011.

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For more on local area personal income, read the full report.

Small Counties See Fastest Growth in Personal Incomes for 2010

Small counties registered the fastest growth in personal incomes in 2010, new data from the U.S. Bureau of Economic Analysis show.

Personal income grew 3.9 percent for small counties—those with populations of less than 50,000. At the same time, large counties, with populations of at least 250,000, saw personal incomes grow 3.7 percent, matching the growth rate for the nation. Medium-sized counties, with populations between 50,000 and 249,999, recorded personal income growth of 3.6 percent.

Large counties—represent 8 percent of the 3,113 counties in the United States, but account for 68 percent of personal income for the nation. In these 261 counties for 2010:
• Personal income growth ranged from 8.7 percent in Loudoun, VA, to –2.8 percent in St. Joseph, IN.
• Per capita personal income ranged from $111,386 in New York (Manhattan), NY, to $20,946 in Hidalgo, TX.

Medium counties—represent 23 percent of all U.S. counties and account for 22 percent of personal income for the nation. In these 718 counties for 2010:
• Personal income growth ranged from 12.5 percent in Eddy, NM, to –4.4 percent in Christian, KY.
• Per capita personal income ranged from $79,967 in Arlington, VA, to $18,259 in Starr, TX.

Small counties—represent 69 percent of all U.S. counties and account for 10 percent of personal income for the nation. In these 2,134 counties for 2010:
• Personal income growth ranged from 51.6 percent in Hyde, SD, to –18.8 percent in Hand, SD.
• Per capita personal income ranged from $94,672 in Teton, WY, to $16,299 in Crowley, CO.

BEA is accelerating its release of county personal income estimates by 5 months. Data for all of 2011 will be out on November 26. To find out more about how personal incomes fared in 2010 on a county-by-county basis, read the full report.