Monday, April 2, 2012

Idaho Farm Profits Spur Jump in Personal Income Gains

Posted By on Mon, Apr 2, 2012 at 9:02 AM

Personal income growth in Idaho outpaced the nation last year. The Idaho State Journal reports that Idaho ranked 11th in the nation in personal income growth - spurred by a 5.4 percent jump, three-tenths of a percentage point higher than the U.S. average.

The data from the U.S. Bureau of Economic Analysis indicates that increased business profits were behind the increase. Business profits reportedly grew 15 percent while wages rose 2.5 percent. Idaho farming showed the largest increase at 41.7 percent.

On the flip side, government jobs saw declines, with federal jobs down 1 percent, state and local jobs down 3.5 percent and military-related jobs down 5.5. percent.

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