Wyoming Ranks 22nd in Personal Income Growth
Wyoming’s personal income growth ranked twenty-second in the U.S., according to the national Bureau of Economic Analysis. The state’s growth for the first quarter of 2012 was point-9 percent, compared to 1.6 percent during the last quarter of 2011, and a national average of point-8 percent.
Jim Robinson of the Wyoming Economic Analysis Division says farming and construction were the largest contributors to income growth in the state. “But talking about the different industries that actually showed a decline, real estate/rental/leasing, that category was the industry that had the biggest drop in earnings, followed by mining,” said Robinson.
Robinson noted that the decrease in mining’s role in Wyomingites’ incomes was more likely due to a leveling off from considerable growth rather than a drastic decline from past years. Robinson said that in the recent past, Wyoming has ranked in the top ten for income growth.