Personal income in Arizona rising faster than national average
PHOENIX — Figures for real personal income growth across America for 2016 were released by the Bureau of Economic Analysis and the study showed that Arizona had a top 10 growth rate in the country.
Personal income in Arizona rose by 2.6 percent, up from the 1.1 percent national average, according to the study.
There were eight states in the nation where personal income actually decreased. Those states were as follows: Wyoming, Oklahoma, Louisiana, North Dakota, Kansas, West Virginia, Alaska and Texas.
Utah, Georgia and Washington saw the highest personal income growth.
The study also released figures on price parity across the country.
Ranking the national average as a score of 100, Arizona recorded a score of 95.9 meaning that prices per goods are generally cheaper in Arizona than across the nation.
Arizona ranked 27th in price parity, close to the median despite being more than 4 points below the national average.
Hawaii, New York and California were the top three states in terms of price parity, while Mississippi, Alabama and Arkansas were the lowest.