Arizona ranked No. 2 in personal income growth to start 2019
Jun 26, 2019, 3:15 PM
PHOENIX – Arizona ranked second in the nation in personal income growth for the first quarter of 2019, according to federal data released Tuesday.
Personal income in the Grand Canyon State for January through March grew by 5.5% over the final quarter of 2018, according to Bureau of Economic Analysis estimates.
West Virginia at 5.6% was the only state with faster growth over that period.
The national average was 3.4%, a decrease from 4.1% the previous quarter.
“With personal income growth outpacing the national average, Arizonans have more money in their pockets to provide for their families,” Gov. Doug Ducey said in a press release.
“Our growth is thanks to the hard work of job creators, entrepreneurs and employees. We will continue to focus on creating an economic environment that brings more jobs and opportunity to our state.”
Eric Jay Toll, communications manager for Phoenix Community and Economic Development, told KTAR News 92.3 FM Arizona’s job growth is especially strong in fields with high wages and stability.
“The industry sectors making the largest contribution to Arizona’s 5.5% personal income growth are biosciences and health care, construction, leisure and hospitality, and business and professional services,” Toll said in an email.
Arizona ranked fifth nationally for personal income growth for the year in 2018.