Nevadans’ income up 4.1 percent in 2011
Nevadans’ personal income rose an average of 4.1 percent in 2011.
Nationally, personal income rose an average 5.1 percent in 2011 after rising 3.7 percent in 2010, according to estimates released Wednesday by the U.S. Bureau of Economic Analysis.
State personal income growth ranged from 3.4 percent in Maine to 8.1 percent in North Dakota.
The Silver State ranked 47th in the percentage change from 2010.
Inflation, as measured by the national price index for personal consumption expenditures, increased to 2.5 percent in 2011 from 1.8 percent in 2010.
Per-capita personal income nationally increased by 4.3 percent in 2011 over 2010, after rising 2.8 percent in 2010. Across states, per-capita personal income growth ranged from 2.9 percent in Alaska to 6.7 percent in North Dakota.
Nevada saw per-capita personal income growth of 3.3 percent to $38,173. The percentage change from 2010 to 2011 again placed Nevada 47th among states.
Personal income is the income received by all persons from all sources. Per-capita personal income is personal income divided by population.
Earnings, which grew an average 4.4 percent in 2011, recovered their pre-recession levels and reached new peaks in 45 states. Earnings in Arizona, Florida, Michigan, Nevada, and Oklahoma are still below peaks reached in 2007 or 2008. The 3 percent earnings growth in Nevada in 2011 followed three consecutive years of decline.
The report also showed a slight population increase in Nevada from 2010 to 2011, to 2.72 million for a 0.7 percent increase. The state ranked 24th in terms of the percentage increase in population.