For 2019, the rate of personal income growth in Kansas was near the middle of the states.
This week the Bureau of Economic Analysis, an agency of the United States Department of Commerce, released state annual personal income for 2019 and state quarterly personal income for the fourth quarter of 2019. The annual figures are preliminary.
For Kansas, personal income in 2019 was $155,724, up from $149,859 in 2018. (These are current dollars, not adjusted for inflation.) This increase of 3.9 percent put Kansas at the rank of 31 among the states. With a reported population of 2,913,000 (Census Bureau midyear population estimates available as of December 2019), per capita personal income was $53,453, which ranks at number 24 among the states.
For the nation, personal income rose by 4.4 percent from 2018 to 2019. For Plains states the increase was 4.1 percent. (For this data, Plains States are Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota.)
Personal income in the fourth quarter of 2019 was $158,032 million, an increase of 2.9 percent from the third quarter. That ranked twenty-ninth among the states. For the nation, the increase was 3.0 percent. (These values, while considering one quarter, are expressed as an annual rate, and are adjusted for seasonality.) For Plains states, the increase was 2.8 percent. The fourth quarter of the calendar year consists of October, November, and December.
A nearby table shows the contributions of earnings to percent change in personal income by industry. In Kansas, the industries that contributed the most were Health care and social assistance, State and local government, Construction, Management of companies and enterprises, and Transportation and warehousing. Utilities and Nondurable goods manufacturing experienced small reductions.
According to BEA, “Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers. It includes income from domestic sources as well as the rest of world. It does not include realized or unrealized capital gains or losses.”
Also from BEA: “Earnings by place of work is the sum of wages and salaries, supplements to wages and salaries, and proprietors’ income. BEA’s industry estimates are presented on an earnings by place of work basis.”Learn how you can support the Voice for Liberty. Click here.