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Floridians' Personal Income Growth Ranks Dismal 45th

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By MICHAEL SASSO | The Tampa Tribune

Published: March 24, 2009

TAMPA - The good news is that Floridians' personal income rose throughout 2008, even in a recession. Unfortunately, income didn't keep up with the inflation rate so we weren't able to enjoy it.

On Tuesday, the Department of Commerce's Bureau of Economic Analysis released estimates of personal income in Florida and the 49 other states.

According to the data, Florida's per capita personal income – or the state's total personal income divided by its residents – rose 1.7 percent from 2007 to 2008. Per capita personal income last year hit $39,070, which was up from $38,417 in 2007.

Despite their higher incomes, Floridians had less buying power last year because the inflation rate was 3.3 percent, as measured by the national price index for personal consumption expenditures, the Bureau of Economic Analysis said.

The 1.7-percent rise ranked Florida 45th in the country in per capita personal income growth. In the United States overall, per capita personal income rose by 2.9 percent in 2008.

The worst performing state was Arizona, which saw its per capita personal income rise by just 0.4 percent. The state with the highest growth rate was North Dakota, where incomes rose by 9 percent.

Reporter Michael Sasso can be reached at (813) 259-7865.

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