Monday, August 9, 2010

First Time in More than 50 Years: Idaho Income Declines

Posted By on Mon, Aug 9, 2010 at 4:44 PM

The economy has "bottomed out and I see some signs of recovery," Gov. C.L. "Butch" Otter told the Boise Chamber of Commerce on July 28. Monday's report on personal income in Idaho doesn't seem to confirm that.

For the first time in more than half a century, personal income in Idaho dropped (3 percent) in 2009. Nationally, personal income fell by 1.7 percent with all but six states posting losses.

Rural Idaho really took it on the chin, reporting a 3.9 percent loss. Personal income in urban Idaho dropped 2.5 percent.

Personal income represents the total of wages, salaries, business profits, investment earnings and transfer payments like unemployment benefits and Social Security.

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