Kansans’ see slight growth in personal income
09/30/2013 11:07 AM
09/30/2013 11:08 AM
Kansas personal income rose 0.5 percent in the second quarter, placing it 42nd among states, according to the U.S. Bureau of Economic Analysis.
It had fallen 0.4 percent in the first quarter, a period that showed unusual weakness nationwide because of tax law changes that boosted incomes at the end of 2012.
The largest component of personal income – wages and other earnings – actually shrank slightly in Kansas during the second quarter.
What produced the overall increase was strong growth in investment income and rents, such as farm ground and oil leases, which totaled about $700 million, a 3 percent jump.
Personal income includes all wages, benefits, interest, dividends, rents and government transfers, such as Social Security and Medicare.
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