Minnesota personal incomes increased more in 2012 than just about all other states

Categories: Economy
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Image by Tatiana Craine
Of course, the per capita income data doesn't account for the possibility of unequal growth between rich and poor Minnesotans.
Minnesotans are just hot, period. But recent data indicates our state is particularly hot in the areas of job creation and personal income.

SEE ALSO: Economic recovery? What economic recovery? Mpls donut shop hiring... an unpaid intern

According to the latest U.S. Department of Commerce data, per capita personal income in the state grew from $44,560 in 2011 to $46,227 last year. That 4.41 percent increase was the sixth highest in the nation, behind only NoDak (incomes there grew a whopping 12.38 percent!), Texas (4.85 percent), Utah (4.66 percent), Washington (4.51 percent), and Montana (4.48 percent).

According to Twin Cities Business, per capita personal income in Minnesota was $43,466 in 2008. That number dropped to $40,950 in the depths of the recession in 2009 before steadily bouncing back to $46,227 last year.

For the nation as a whole, per capita personal income for 2012 was $42,693, a 3.5 increase over 2011.

As hot was Minnesota's economy seems to be, Wisconsin's is equally cold. Per capita personal incomes for residents of the Land of Cheese grew by 2.69 percent to $40,547 last year, which was good for the 10th-smallest increase in the nation.

Surprisingly, South Dakota ranked by far the lowest of any state in terms of 2011-to-2012 personal income growth. SoDak was actually the only state to experience negative growth, with incomes falling 0.2 to $43,659  from the year prior.


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9 comments
keny1
keny1

Are these per capita figures pre or post tax?

Branden Strot
Branden Strot

mine is still down about 60% from 4 years ago.

Melissa Mj
Melissa Mj

Yeah, it's called having to get a part time job on top of a full time job.

Chris Welton
Chris Welton

Really? My employer is cutting my pay.... Citing aha and there isn't even 30 employees

William Huston
William Huston

how is this possible? I thought the economy was stalled?

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