North Dakota Personal Incomes Have Nearly Doubled In The Last Decade
The Bureau of Economic Analysis just released personal income numbers for 2013.
Nationally it’s not a very pretty picture. Personal income growth slowed from 4.2 percent in 2012 to 2.6 percent in 2013. But in North Dakota personal incomes are booming. The state saw 7.6 percent growth in personal income in 2013, with per capita personal incomes going over $57,000 per year.
That puts North Dakota second only to Connecticut at $60,847 and Washington DC at $74,513 in per capita income.
In 2003 North Dakota’s per-capita income was $29,569, the 17th lowest in the nation. Since that time, personal incomes in the state have grown by more than 93 percent.
This chart compares North Dakota personal income growth with the national rate of growth: