MO personal income rises 1.1% in 2Q

Missouri's personal increased by 1.1 percent in the second quarter, matching the average U.S. growth rate.

Missouri's personal was $230.7 billion in the second quarter, up from $228.1 billion in the first quarter, according to a news release from the U.S. Bureau of Labor Statistics.

In comparison, Missouri's personal income was $220.5 billion in the second quarter of fiscal 2010, and the full 2010 average was $221.7 million.

With the fiscal 2011 second-quarter increase, Missouri ranked No. 31 in the nation in personal income growth rate, falling short of all other states in the BLS' Plains Region. The seven-state Plains Region was the bright spot in the nation in terms of growth rate during the quarter, with five states ranking in the highest quintile, and three states, Nebraska, 2.2 percent growth, South Dakota, 2.2 percent growth, and North Dakota, 2.1 percent growth, ranking Nos. 1, 2 and 3, respectively, in the U.S. Missouri fell into the second-lowest quintile.

Personal income is defined as income received by all persons from all sources, with the sum of net earnings determined by place of residence, property income and personal current transfer receipts.[[In-content Ad]]