Arizona among top 5 in nation for personal income growth in 2018
Mar 27, 2019, 1:07 PM
(Unsplash Photo)
(Unsplash Photo)
PHOENIX – Personal income in Arizona rose by 5.5 percent last year, the fifth-largest increase in the country, according to a new federal data.
Arizona’s 2018 growth outpaced the U.S. average of 4.5 percent, according to estimates released Tuesday by the Bureau of Economic Analysis.
“Arizona will continue to focus on setting the best economic environment to continue bringing more jobs and opportunity to our state,” Gov. Doug Ducey said in a press release.
Higher earnings was the biggest contributor to the state’s personal income growth, with the construction field seeing the largest increase.
Arizona ranked 5️⃣th in the US for personal income growth in 2018 📈 #AZMeansBiz @BEA_News @azcommerce https://t.co/kWtqiJgp4D pic.twitter.com/tzG7HZ7gTL
— Doug Ducey (@dougducey) March 27, 2019
Arizona also ranked fifth nationally in personal income growth in 2017 with a 4.3 percent increase.
Every state saw increases in personal income in 2018, with the strongest growth in the West and Southwest regions.
Washington led the nation at 6.8 percent and was followed by Utah at 6.3 percent and Nevada and Colorado each at 5.7 percent.
The smallest increase was in Hawaii, at 2.9 percent.
