For the first quarter of 2019, the rate of personal income growth in Kansas was less than the national rate, although better than the Plains states.
Today the Bureau of Economic Analysis, an agency of the United States Department of Commerce, released state personal income data for the first quarter of 2019. The news release is here.
For Kansas, personal income in 2019 Q1 was $148,991 million, an increase of 3.0 percent from the previous quarter. (These values, while considering one quarter, are expressed as an annual rate, and are adjusted for seasonality.) For the nation, the increase was 3.4 percent. For Plains states, the increase was 2.1 percent. (For this data, Plains States are Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota.)
The increase in Kansas was thirty-sixth best among the states.
For the first quarter of 2019, earnings in Kansas grew by $602 million. Farm earnings fell by $104 million.
According to BEA, “Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers. It includes income from domestic sources as well as the rest of world. It does not include realized or unrealized capital gains or losses.”
Also from BEA: “Earnings by place of work is the sum of wages and salaries, supplements to wages and salaries, and proprietors’ income. BEA’s industry estimates are presented on an earnings by place of work basis.”