Kansas’ personal income growth ranks 45th for first quarter of 2014
06/24/2014 10:34 AM
06/24/2014 10:35 AM
Personal income in Kansas grew just 0.2 percent in the first quarter, placing it 45th among states, according to the U.S. Bureau of Economic Analysis.
The country as a whole grew 0.8 percent.
Personal income is the sum of all income going to individuals from wages, benefits, proprietors’ income, rents, investments and government payments such as Social Security.
Kansas was among a cluster of states in the central U.S. that grew slowly in the first quarter largely because of falling crop prices, according to the agency. The other states in the bottom 10 for income growth in the quarter included Nebraska, South Dakota, North Dakota, Minnesota, Iowa, Arkansas, Wyoming, Idaho, Indiana and California, all hit by dropping farm incomes.
The biggest contributor to Kansas to the state’s income growth were construction and the manufacture of non-durable goods, such as food processing and oil refining.
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