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We Made More But Could Buy Less
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Published: March 25, 2009
TAMPA - The good news is that Floridians' personal income rose throughout 2008, even in a recession. Unfortunately, income didn't keep up with inflation so we couldn't enjoy it.
Florida's per capita personal income - total personal income divided by the population - rose from $38,417 in 2007 to $39,070 in 2008.
The figures, released Tuesday, put Florida at No. 21 nationally in per capita personal income but 45th in its rate of personal income growth - 1.7 percent, compared with 2.9 percent nationally.
That means Floridians had less buying power because the inflation rate was 3.3 percent.
Michael Sasso PERSONAL INCOME GROWTH
2007-2008
TOP 6 STATES
North Dakota: 9%
Alaska: 8.2%
Wyoming: 5.7%
Oklahoma: 5.4%
Iowa: 5.1%
West Virginia: 4.9%
BOTTOM 6 STATES
Florida: 1.7%
Utah: 1.5%
Georgia: 1.4%
Nevada: 1.3%
Idaho: 1%
Arizona: 0.4%
Source: U.S. Department of Commerce's Bureau of Economic Analysis
PERSONAL INCOME GROWTH
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