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Florida's Personal Income Increase Tops U.S. Average

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By Michael Sasso of The Tampa Tribune

Published: December 19, 2007

TAMPA - Floridians' personal incomes rose slightly faster than the national average in the third quarter of this year.

Incomes in Florida rose by 1.5 percent in the quarter, compared with 1.4 percent growth in the nation overall, according to new data from the Department of Commerce's Bureau of Economic Analysis.

Strong growth in personal incomes in the health care and social assistance industry and in professional and technical services helped boost Florida's income growth.

The construction industry was the biggest drag on Florida incomes, the data show.

Floridians' income growth in the third quarter ranks the state 16th in the country. The rate outpaces income growth in the second quarter of this year, when it rose 0.9 percent; however, it trails income growth in the third quarter of 2006, which was 1.8 percent.

Washington led the nation with 3.6 percent growth in personal income in the third quarter. Washington was helped by big stock grants given to information technology workers, including Microsoft employees, the Commerce Department says.

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