Special Report

States Where Incomes Are Booming (or Not)

Money Tree, Linda Braucht, 20th Century, American, Computer Graphics U.S. personal income totalled more than $13.5 trillion in 2014, up 8.9% from 2008, when Americans generated a total of $12.4 trillion. Income growth varied considerably between states. North Dakota led the nation, with 2014 personal income of $55,966, up 35.1% from 2008 — each were the highest such figures in the nation. Personal income did not contract in any state, but in Nevada it rose just 0.8%, the smallest growth rate.

Wages and salaries are the largest contributors to personal income, and employment gains in major state industries contributed to fast personal income growth. States with rapidly expanding energy sectors, for example, ranked at the top for income growth. Employment in North Dakota’s natural resource industry surged 173.2% from 2008 through 2013, by far the largest such increase. As a result, North Dakota led the nation for personal income growth. Similarly, Texas — taking the second-place position — added more than 54,000 energy jobs over that period, the largest raw increase in workers in the country. It will be interesting to see how these rankings change in the future, given the recent collapse in energy prices.

Click here to see the states where incomes are growing the fastest (and slowest)

Employment opportunities in an area often help attract workers. While the working-age population fell 0.5% across the country from 2008 through 2013, this age group increased in 15 of the top 25 states for income growth. Conversely, only six states in the bottom half for income growth saw increases in this population.

Fast income growth is almost always a sign of a healthy economy. However, exceptionally strong income growth does not necessarily mean residents are exceptionally wealthy. Montana, Arkansas, Idaho, and Tennessee, for example, which were all in the top ten for income growth, still had per capita personal income well below the national average.

Similarly, income gains in states where residents were already quite wealthy did not appear as large in percentage terms. In fact, nine of the 15 states where income grew the slowest from 2008 through 2014 had per capita personal income above the national income figure in 2014.

Personal income, or the sum of net earnings by all people from all sources, was reviewed in each state and in each year from 2008 through 2014 from the Bureau of Economic Analysis (BEA). Income growth rates were calculated from real personal income in 2008 to real personal income in 2014, all in 2008 dollars. The BEA has not yet published real personal income figures for 2013 or 2014. We derived our own estimates of real personal income by adjusting nominal figures for regional and national prices, per the BEA’s methodology. Due to limited data availability, real personal income estimates for 2013 and 2014 were calculated with 2012 regional prices. Also from the BEA, we considered GDP contributions by industry for 2008 and 2013. Working-age population (25 to 54), industry workforce composition, including change over time, all came from the U.S. Census Bureau’s American Community Survey (ACS). Socioeconomic factors, such as educational attainment rates and poverty rates, also came from the ACS. Annual unemployment rates for 2008 and 2014 came from the Bureau of Labor Statistics (BLS).

These are the states with fastest- and slowest-growing personal income.

 

Correction: Due to a fact-checking error, a previous version of this article incorrectly cited total personal income in billions of dollars. In fact, U.S. personal income in 2014 was $13.5 trillion dollars. 

1. North Dakota
> Personal income growth (2008-2014):
35.1%
> Per capita personal income 2014: $55,966 (the highest)
> Unemployment rate: 2.8% (the lowest)
> Pct. Change in labor force (2008-2014): 12.2% (2nd highest)

Personal income in North Dakota increased 35.1% from 2008 through 2014, the fastest growth rate in the country. By contrast, income grew 8.9% nationwide over that period. As in most states where personal income is growing fast, North Dakota’s rapidly expanding energy sector largely explains the increase. Energy extraction accounted for 21.3% of the state’s GDP in 2013, up 9 percentage points from 2008. The increase was the largest in the country. Employment in the sector increased a remarkable 173.2%, the largest percent increase in the nation.

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2. Texas
> Personal income growth (2008-2014):
17.7%
> Per capita personal income 2014: $43,340 (25th highest)
> Unemployment rate: 5.1% (16th lowest)
> Pct. Change in labor force (2008-2014): 12.4% (the highest)

Income increased 8.9% nationwide between 2008 and 2014. In Texas, meanwhile, personal income grew at nearly double that rate, at 17.7%. This was the second-fastest growth rate nationwide. As was the case with many states with high personal income growth, the state’s energy sector was a major factor in the increase. Energy extraction accounted for 11.7% of the state’s GDP in 2013, up 2.5 percentage points from 2008. The increase was the fourth largest in the country. The energy sector also added 54,087 jobs over that period, by far the largest raw increase nationwide.

3. Alaska
> Personal income growth (2008-2014):
14.6%
> Per capita personal income 2014: $45,477 (14th highest)
> Unemployment rate: 6.8% (10th highest)
> Pct. Change in labor force (2008-2014): 3.1% (12th highest)

Personal income in Alaska increased 14.6% from 2008 through 2014, the third-fastest growth rate in the country. By contrast, income grew 8.9% nationwide over that period. Alaska’s rapidly expanding energy sector largely explains the increase. Energy extraction accounted for more than one-quarter of the state’s GDP in 2013, up 0.8 percentage points from 2008. Since 1982, every Alaskan has received an annual dividend from the state’s permanent fund made possible by Alaska’s historically profitable oil operations.

4. Montana
> Personal income growth (2008-2014):
13.5%
> Per capita personal income 2014: $39,682 (17th lowest)
> Unemployment rate: 4.7% (13th lowest)
> Pct. Change in labor force (2008-2014): 1.4% (22nd highest)

Personal income in Montana increased 13.5% from 2008 through 2014, the fourth-fastest growth rate in the country. By contrast, income grew 8.9% nationwide over that period. As in most states where personal income is growing fast, Montana’s healthy energy sector largely explains the increase. Energy extraction accounted for 9.9% of the state’s GDP in 2013, up 1.5 percentage points from 2008. The increase was the eighth largest in the country.

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5. Arkansas
> Personal income growth (2008-2014):
12.9%
> Per capita personal income 2014: $39,677 (16th lowest)
> Unemployment rate: 6.1% (23rd highest)
> Pct. Change in labor force (2008-2014): -5.4% (the lowest)

Nationally, income grew 8.9% over the five years ending in 2013. In Arkansas, Personal income soared by nearly 13% over that same period, fifth-fastest in the country. As in most states where personal income is growing fast, Arkansas’s natural resources and mining sector partly explains the increase. Energy extraction accounted for 5.2% of the state’s GDP in 2013, up 1 percentage point from 2008. The increase was the 16th largest in the country. While incomes are growing in the state, nearly one in five residents lived in poverty in 2013, the fourth highest poverty rate nationwide.

6. Idaho
> Personal income growth (2008-2014):
12.6%
> Per capita personal income 2014: $36,920 (6th lowest)
> Unemployment rate: 4.8% (14th lowest)
> Pct. Change in labor force (2008-2014): 2.9% (15th highest)

Personal income in Idaho increased 12.6% from 2008 through 2014, the sixth-fastest growth rate in the country. By contrast, income grew 8.9% nationwide over that period. Mining activity, which contributed substantially to the state’s GDP and helped generate jobs, largely explains the growth. More than 5.8% of the state’s workforce was employed by the agriculture, forestry, fishing and mining industries in 2013, up 0.7 percentage points from 2008, and higher than the 2% of workers employed in those industries across the country. The Idaho job market as a whole was also relatively healthy, as just 4.8% of the workforce was unemployed, lower than the national jobless rate of 6.2%.

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7. Tennessee
> Personal income growth (2008-2014):
12.3%
> Per capita personal income 2014: $41,268 (22nd lowest)
> Unemployment rate: 6.7% (12th highest)
> Pct. Change in labor force (2008-2014): -1.4% (11th lowest)

Tennessee had a per capita personal income of $41,268 in 2014. While this was just below the national average figure of $42,412, personal income grew 12.3% from 2008, faster than in the vast majority of states. The state’s annual unemployment rate of 6.7% in 2014 was relatively unchanged from 2008, and remained higher than the national jobless rate of 6.2%.

8. Oklahoma
> Personal income growth (2008-2014):
12.2%
> Per capita personal income 2014: $44,179 (20th highest)
> Unemployment rate: 4.5% (12th lowest)
> Pct. Change in labor force (2008-2014): 2.2% (18th highest)

Nationwide, income grew 8.9% from 2008 through 2014. Personal income in Oklahoma increased 12.2% over that period, the eighth-fastest growth rate in the country. Oklahoma’s energy sector accounts for a large part of the state’s income growth. In 2008, 11.7% of the state GDP came from natural resources and mining, in 2013, that had grown to 13.8% of state GDP, the As in most states where personal income is growing fast, Oklahoma’s energy sector activity largely explains the increase. Energy extraction accounted for 13.8% of the state’s GDP in 2013, up 2.1 percentage points from 2008. The increase was the sixth largest in the country. The energy sector also added more than 5,000 jobs over that period, the sixth largest raw increase nationwide.

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9. South Dakota
> Personal income growth (2008-2014):
11.8%
> Per capita personal income 2014: $48,378 (5th highest)
> Unemployment rate: 3.4% (3rd lowest)
> Pct. Change in labor force (2008-2014): 0.4% (25th highest)

Personal income in South Dakota increased 11.8% from 2008 through 2014, the ninth-fastest growth rate in the country. By contrast, income grew 8.9% nationwide over that period. The state’s relatively large agricultural sector accounted for 8.4% of the state’s GDP, the largest percentage compared to other states, and up from the 2008. South Dakota agricultural workers made up 6.8% of the state’s workforce, the fourth highest proportion in the country, and up 27.2% from 2008.

10. Nebraska
> Personal income growth (2008-2014):
11.4%
> Per capita personal income 2014: $48,102 (6th highest)
> Unemployment rate: 3.3% (2nd lowest)
> Pct. Change in labor force (2008-2014): 3.3% (11th highest)

Personal income in Nebraska increased 11.4% from 2008 through 2014, the 10th-fastest growth rate in the country. By contrast, income grew 8.9% nationwide over that period. While a single sector often accounts for the bulk of a state’s economic growth, and handful of industries contributed substantial gains to Nebraska’s economy. The state’s agricultural industry in particular, which was already relatively large in 2008, added 1,863 jobs over five years, a 42.9% increase. Both figures were some of the largest in the country.

11. New Hampshire
11. New Hampshire
> Personal income growth (2008-2014):
11.3%
> Per capita personal income 2014: $46,077 (9th highest)
> Unemployment rate: 4.3% (8th lowest)
> Pct. Change in labor force (2008-2014): -0.2% (19th lowest)

New Hampshire’s 2014 personal income per capita of $46,077 was the ninth highest in the country. Personal income grew 11.3% from 2008, also one of the largest figures nationwide. High income in the state helped New Hampshire residents stay out of poverty. The state had the lowest poverty rate in the country in 2013, at just 8.7%. Despite these healthy economic factors, New Hampshire’s working-age population shrank nearly 7% from 2008 through 2013, nearly the largest decline in the country.

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12. Utah
> Personal income growth (2008-2014):
11.3%
> Per capita personal income 2014: $35,920 (2nd lowest)
> Unemployment rate: 3.8% (4th lowest)
> Pct. Change in labor force (2008-2014): 4.4% (6th highest)

Personal income in Utah grew 11.3% from 2008 through 2014, considerably faster than income growth across the country. While most states with large personal income growth rates also had relatively large per capita income growths, this was not the case in Utah. Per capita income in the state was still nearly the lowest in the nation last year, at $35,920. The state’s working-age population grew 3.3% from 2008 through 2013, the fifth largest such growth rate in the country.

13. Massachusetts
> Personal income growth (2008-2014):
10.9%
> Per capita personal income 2014: $50,829 (4th highest)
> Unemployment rate: 5.8% (24th lowest)
> Pct. Change in labor force (2008-2014): 3.0% (14th highest)

Massachusetts residents had some of the highest incomes in each year from 2008 through 2014, and incomes grew much faster than they did in most states over that period. Massachusetts had a per capita personal income of $50,829, the fourth highest income in the country in 2014. More than 38% of state adults had at least a bachelor’s degree in 2008, the highest nationwide at that time. Last year, more than 40% had at least a bachelor’s degree, remaining in the top spot compared to other states.

14. Colorado
> Personal income growth (2008-2014):
10.8%
> Per capita personal income 2014: $44,159 (21st highest)
> Unemployment rate: 5.0% (15th lowest)
> Pct. Change in labor force (2008-2014): 3.7% (7th highest)

Personal income in Colorado increased 10.8% from 2008 through 2014, the 14th-fastest growth rate in the country. By contrast, income grew 8.9% nationwide over that period. As in most states where personal income is growing fast, Colorado’s relatively strong natural resource industry partly explains the increase. Energy extraction accounted for 6.5% of the state’s GDP in 2013, up 1.7 percentage points from 2008. The increase was the seventh largest in the country. The state’s industry also added 5,605 jobs over that period, an increase of 46.4%.

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15. South Carolina
> Personal income growth (2008-2014):
10.5%
> Per capita personal income 2014: $37,492 (7th lowest)
> Unemployment rate: 6.4% (18th highest)
> Pct. Change in labor force (2008-2014): 2.6% (16th highest)

Like many other states with especially fast-growing incomes, South Carolina’s personal income growth of 10.5% from 2008 through 2014 accompanied above-average population growth. The state’s total population grew 6.6% from 2008 through 2013, versus the national increase of 4.0%. Also, while the national working-age population shrank slightly, South Carolina’s population aged 25 to 54 grew 1.6%.

16. Ohio
> Personal income growth (2008-2014):
10.4%
> Per capita personal income 2014: $43,941 (23rd highest)
> Unemployment rate: 5.7% (21st lowest)
> Pct. Change in labor force (2008-2014): -4.1% (3rd lowest)

Ohio’s personal income growth of 10.4% from 2008 through 2014 was the 16th fastest in the country. The growth in per capita terms of 9.6% was the third highest such figure in the country. While most states with faster-than-average income growth also had growing working-age populations, Ohio’s population aged 25 to 54 actually shrank by 6% from 2008 through 2013, nearly the largest such drop nationwide.

17. North Carolina
> Personal income growth (2008-2014):
10.1%
> Per capita personal income 2014: $39,849 (19th lowest)
> Unemployment rate: 6.1% (23rd highest)
> Pct. Change in labor force (2008-2014): 2.1% (19th highest)

Personal income in North Carolina grew 10.1% from 2008 through 2014, well above the national growth rate of 8.9%. North Carolina’s manufacturing sector accounted for 21.4% of the state’s GDP in 2013, down slightly from 2008, but still the third-highest such contribution in the country.

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18. Washington
> Personal income growth (2008-2014):
10.1%
> Per capita personal income 2014: $44,235 (18th highest)
> Unemployment rate: 6.2% (22nd highest)
> Pct. Change in labor force (2008-2014): 0.3% (24th lowest)

Personal income in Washington grew more than 10% from 2008 through 2014, faster than most states. The state’s information sector, which often provides relatively high-paying jobs, accounted for 10% of the state’s GDP in 2013, the highest such contribution nationwide and up from 2008. The state’s manufacturing industry added 7,418 jobs, an increase of 16% over that period, each among the largest such figures nationwide.

19. California
> Personal income growth (2008-2014):
9.7%
> Per capita personal income 2014: $40,864 (21st lowest)
> Unemployment rate: 7.5% (4th highest)
> Pct. Change in labor force (2008-2014): 3.5% (9th highest)

More income is generated in California than in any other state, with personal income totalling nearly $1.6 billion in 2014. While income grew 9.7% from 2008 through last year, faster than the national growth rate, California’s per capita income figure of $40,864 was just below the national level. The state’s 2014 annual unemployment rate of 7.5% was the fourth highest nationwide.

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20. Delaware
> Personal income growth (2008-2014):
9.7%
> Per capita personal income 2014: $41,348 (23rd lowest)
> Unemployment rate: 5.7% (21st lowest)
> Pct. Change in labor force (2008-2014): 1.1% (23rd highest)

Personal income in Delaware grew 9.7% from 2008 through 2014, nearly 1 full percentage point faster than the nation. However, the state’s per capita income of $41,348 in 2014 was still just below the national figure. More than 42% of Delaware’s GDP came from the state’s finance, insurance, and real estate industries, the highest such contribution in the country and up from 2008.

21. West Virginia
> Personal income growth (2008-2014):
9.7%
> Per capita personal income 2014: $38,079 (9th lowest)
> Unemployment rate: 6.5% (15th highest)
> Pct. Change in labor force (2008-2014): -2.8% (6th lowest)

Personal income in West Virginia increased 9.7% from 2008 through 2014, the 21st-fastest growth rate in the country. By contrast, income grew 8.9% nationwide over that period. As in most states where personal income is growing fast, West Virginia’s expanding energy sector partly explains the increase. Energy extraction accounted for 17.2% of the state’s GDP in 2013, the fourth largest proportion nationwide, and up 4.2 percentage points from 2008. The increase was the second largest in the country.

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22. Georgia
> Personal income growth (2008-2014):
9.6%
> Per capita personal income 2014: $39,126 (12th lowest)
> Unemployment rate: 7.2% (6th highest)
> Pct. Change in labor force (2008-2014): -2.5% (8th lowest)

From 2008 through 2014, personal income in Georgia grew 9.6%, versus the 8.9% personal income growth across the country over that period. While income grew faster than in most states, Georgia’s personal income per capita of $39,126 in 2014 was still lower than the national average. And the state’s poverty rate of 19% was one of the highest nationwide.

23. Hawaii
> Personal income growth (2008-2014):
9.5%
> Per capita personal income 2014: $36,447 (3rd lowest)
> Unemployment rate: 4.4% (10th lowest)
> Pct. Change in labor force (2008-2014): 4.5% (5th highest)

While the nation’s working age population shrank slightly from 2008 through 2013, Hawaii’s population aged 25-54 grew nearly 6% over that period, the second-largest such growth rate in the country. The influx accompanied a similarly above-average personal income growth in the state. The state had a median household income of $68,020 in 2013, higher than all but three other states. However, personal income per capita, at $36,447 in 2014, was among the lowest in the nation.

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24. Rhode Island
> Personal income growth (2008-2014):
9.4%
> Per capita personal income 2014: $45,557 (13th highest)
> Unemployment rate: 7.7% (3rd highest)
> Pct. Change in labor force (2008-2014): -3.0% (5th lowest)

Rhode Island residents had relatively high incomes in 2008, and personal income in the state grew 9.4% over the next five years — faster than the national income growth of 8.9%. Rhode Island’s per capita personal income of $45,557 in 2014 was well above the national figure. The state’s 2014 unemployment rate of 7.7%, however, did not improve meaningfully over that period, and remained among the highest in the country.

25. Kentucky
> Personal income growth (2008-2014):
9.4%
> Per capita personal income 2014: $39,040 (11th lowest)
> Unemployment rate: 6.5% (15th highest)
> Pct. Change in labor force (2008-2014): -1.3% (12th lowest)

Personal income in Kentucky increased 9.4% from 2008 through 2014. By contrast, income grew 8.9% nationwide over that period. The state’s personal income remains very low. Per capita personal income in 2014 was $39,126, compared to national per capita personal income of $42,412. This figure was the 12th lowest in the country.

26. Louisiana
> Personal income growth (2008-2014):
9.3%
> Per capita personal income 2014: $42,597 (24th lowest)
> Unemployment rate: 6.4% (18th highest)
> Pct. Change in labor force (2008-2014): 3.5% (10th highest)

Personal income in Louisiana increased 9.3% from 2008 through 2014, which is just slightly higher than the 8.9% growth nationwide over that period. One factor in the state’s income growth may be the substantial growth it experienced in its agriculture sector. It added more than 800 agriculture jobs between 2008 and 2013, which was more than a 60% employment increase.

27. Wyoming
> Personal income growth (2008-2014):
8.9%
> Per capita personal income 2014: $52,348 (3rd highest)
> Unemployment rate: 4.3% (8th lowest)
> Pct. Change in labor force (2008-2014): 4.7% (3rd highest)

In many states, the speed of personal income growth does not necessarily reflect the wealth of residents. While personal income rose 8.9% from 2008 through 2014 in Wyoming — in line with the national growth rate — the state’s personal income per capita of $52,300 was the third highest in the country.

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28. Vermont
> Personal income growth (2008-2014):
8.1%
> Per capita personal income 2014: $43,188 (25th lowest)
> Unemployment rate: 4.1% (6th lowest)
> Pct. Change in labor force (2008-2014): -1.7% (10th lowest)

Personal income growth in Vermont grew 8.1% from 2008 through 2014, slightly slower than the average national rate. Vermont is a relatively small state, so while the total amount of income reported in 2014 was $27.1 million — the lowest such figure nationwide, per capita income in the state was roughly in line with the average for all states.

29. Mississippi
> Personal income growth (2008-2014):
8.1%
> Per capita personal income 2014: $36,586 (5th lowest)
> Unemployment rate: 7.8% (the highest)
> Pct. Change in labor force (2008-2014): -5.4% (2nd lowest)

Mississippi’s personal income grew 8.1% from 2008 through 2014, slower than most states. However, the state’s per capita income of $36,586 in 2014 moved to fifth lowest in the nation from dead last in 2008. Jobs are perhaps the most important factor for income growth, and a strong job market will attract more working-age adults to a state. The reverse is also true, and Mississippi’s working-age population shrank 2.0% from 2008 through 2013, a larger decline than the slight drop of 0.5% across the nation. Mississippi’s annual unemployment rate of 7.8% was also among the higher figures nationwide.

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30. Alabama
> Personal income growth (2008-2014):
8.0%
> Per capita personal income 2014: $39,182 (13th lowest)
> Unemployment rate: 6.8% (10th highest)
> Pct. Change in labor force (2008-2014): -1.2% (13th lowest)

Personal income in Alabama grew 8.0% from 2008 through 2014, lower than the national growth rate of 8.9%. Similarly, per capita personal income in the state was just below the national average in each of the last five years. In 2014, Alabama had a personal income per capita of $39,182, versus the national figure of $42,412. While the state’s energy industry was relatively small over the past five years, it actually shrank from 2008 through 2013, while most state energy sectors remained flat or grew slightly over that period.

31. Oregon
> Personal income growth (2008-2014):
8.0%
> Per capita personal income 2014: $38,842 (10th lowest)
> Unemployment rate: 6.9% (8th highest)
> Pct. Change in labor force (2008-2014): -0.7% (16th lowest)

Personal income in Oregon increased just under 8% from 2008 through 2014, the 20th-slowest growth rate in the country. By contrast, income grew 8.9% nationwide over that period. Jobs are perhaps the most important factor for income growth, and a strong job market will attract more working-age adults to a state. The reverse is also true, and Oregon’s working-age population shrank 2.2% from 2008 through 2013, a far larger decline than the slight drop of 0.5% across the nation. Oregon’s unemployment rate of 6.9% was also among the higher figures nationwide.

32. Iowa
> Personal income growth (2008-2014):
7.9%
> Per capita personal income 2014: $46,410 (8th highest)
> Unemployment rate: 4.4% (10th lowest)
> Pct. Change in labor force (2008-2014): 1.5% (21st highest)

Not all states with slow personal income growth have unhealthy economies. In fact, in Iowa, where personal income grew slower than incomes across the nation, residents were relatively wealthy. The state’s personal income per capita of $46,410 was well above the national figure in 2014. Iowa’s annual unemployment rate was also one of the lowest in the country, at 4.4%.

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33. Wisconsin
> Personal income growth (2008-2014):
7.8%
> Per capita personal income 2014: $44,186 (19th highest)
> Unemployment rate: 5.5% (18th lowest)
> Pct. Change in labor force (2008-2014): 0.1% (22nd lowest)

Relative slow income growth does not always reflect an unhealthy economy. In fact, in Wisconsin, where personal income grew slower than incomes across the nation, residents were relatively wealthy. The state’s personal income per capita of $44,168 was well above the national figure in 2014.

34. Pennsylvania
> Personal income growth (2008-2014):
7.7%
> Per capita personal income 2014: $44,521 (16th highest)
> Unemployment rate: 5.8% (24th lowest)
> Pct. Change in labor force (2008-2014): -1.1% (14th lowest)

Relative slow income growth does not always reflect an unhealthy economy. In fact, in Pennsylvania, where personal income grew slower than incomes across the nation, residents were relatively wealthy. The state’s personal income per capita of $44,521 was well above the national figure in 2014. Pennsylvania’s annual unemployment rate of 5.8% was also slightly below the national figure of 6.2%.

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35. Indiana
> Personal income growth (2008-2014):
7.6%
> Per capita personal income 2014: $39,853 (20th lowest)
> Unemployment rate: 6.0% (25th lowest)
> Pct. Change in labor force (2008-2014): 0.0% (20th lowest)

Personal income in Indiana grew 7.6% from 2008 through 2013, lower than the national growth rate of 8.9%. Similarly, per capita personal income in the state was just below the national average in each of the last five years. In 2014, Indiana had a personal income per capita of $39,900, versus the national figure of $42,400. In 2013, Indiana’s manufacturing accounted for more than 30% of the state’s GDP, the second-largest such contribution after Oregon.

36. Florida
> Personal income growth (2008-2014):
7.3%
> Per capita personal income 2014: $39,740 (18th lowest)
> Unemployment rate: 6.3% (20th highest)
> Pct. Change in labor force (2008-2014): 4.6% (4th highest)

Florida’s population grew 6.7% from 2008 through 2013, the eighth-largest growth rate nationwide. Florida is a popular destination for retirees, and the nation’s growing elderly population may partly account for the growth. However, the state’s working-age population also grew by a considerable 2.4% — the ninth largest figure. Still, personal income grew just 7.3%, and on a per capita basis, income remained flat from 2008.

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37. Kansas
> Personal income growth (2008-2014):
7.3%
> Per capita personal income 2014: $46,645 (7th highest)
> Unemployment rate: 4.5% (12th lowest)
> Pct. Change in labor force (2008-2014): 0.0% (21st lowest)

Not all states with slow personal income growth have unhealthy economies. In Kansas, for example, where personal income grew slower than incomes across the nation, residents were actually relatively wealthy. The state’s personal income per capita of $46,645 was well above the national figure in 2014. Kansas’ 4.5% annual unemployment rate was also one of the lowest in the country.

38. Minnesota
> Personal income growth (2008-2014):
6.9%
> Per capita personal income 2014: $45,998 (10th highest)
> Unemployment rate: 4.1% (6th lowest)
> Pct. Change in labor force (2008-2014): 1.7% (20th highest)

Relative slow income growth does not always reflect an unhealthy economy. In fact, in Minnesota, where personal income grew slower than incomes across the nation, residents were relatively wealthy. The state’s personal income per capita of just under $45,998 was well above the national figure in 2014, and seventh-highest overall among states.

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39. Virginia
> Personal income growth (2008-2014):
6.8%
> Per capita personal income 2014: $44,348 (17th highest)
> Unemployment rate: 5.2% (17th lowest)
> Pct. Change in labor force (2008-2014): 3.1% (13th highest)

Relative slow income growth does not always reflect an unhealthy economy. In fact, in Virginia, where personal income grew slower than incomes across the nation, residents were relatively wealthy. The state’s personal income per capita of $44,348 was well above the national figure in both 2008 and 2014.

40. New York
> Personal income growth (2008-2014):
6.8%
> Per capita personal income 2014: $44,862 (15th highest)
> Unemployment rate: 6.3% (20th highest)
> Pct. Change in labor force (2008-2014): -1.0% (15th lowest)

Personal income in New York increased 6.8% from 2008 through 2014, the 11th-slowest growth rate in the country. By contrast, income grew 8.9% nationwide over that period. Jobs are perhaps the most important factor for income growth, and a strong job market will attract more working-age adults to a state. The reverse is also true, and New York’s working-age population shrank 1.8% from 2008 through 2013, a far larger decline than the slight drop of 0.5% across the nation.

41. Arizona
> Personal income growth (2008-2014):
6.8%
> Per capita personal income 2014: $35,565 (the lowest)
> Unemployment rate: 6.9% (8th highest)
> Pct. Change in labor force (2008-2014): -0.5% (17th lowest)

Nationally, personal income income grew 8.9% nationwide between 2008 and 2014. In Arizona, meanwhile, personal income grew just 6.8%, the 10th-slowest growth rate in the country. Jobs are perhaps the most important factor for income growth, and a strong job market will attract more working-age adults to a state. The reverse is also true, and Arizona’s working-age population shrank 4.1% from 2008 through 2013, a far larger decline than the slight drop of 0.5% across the nation. Arizona’s unemployment rate of 6.9% was also among the higher figures nationwide.

42. New Mexico
> Personal income growth (2008-2014):
6.6%
> Per capita personal income 2014: $36,522 (4th lowest)
> Unemployment rate: 6.5% (15th highest)
> Pct. Change in labor force (2008-2014): -2.8% (7th lowest)

Slow state income growth does not always mean incomes are low. New Mexico, however, had both relatively slow income growth and low incomes. The state’s personal income per capita of $36,500 in 2014 was the fourth lowest in the country. The nation’s 2014 unemployment rate rose slightly from 2008. In New Mexico, however, the 2014 jobless rate of 6.5% rose 2 percentage points from 2008, the second largest increase nationwide.

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43. Maryland
> Personal income growth (2008-2014):
6.1%
> Per capita personal income 2014: $45,616 (12th highest)
> Unemployment rate: 5.8% (24th lowest)
> Pct. Change in labor force (2008-2014): 3.6% (8th highest)

Relative slow income growth does not always reflect an unhealthy economy. In fact, in Maryland, where personal income grew slower than incomes across the nation, residents were relatively wealthy. The state’s personal income per capita of $45,616 was well above the national figure in 2014.

44. Michigan
> Personal income growth (2008-2014):
5.8%
> Per capita personal income 2014: $39,554 (15th lowest)
> Unemployment rate: 7.3% (5th highest)
> Pct. Change in labor force (2008-2014): -3.5% (4th lowest)

Personal income in Michigan increased 5.8% from 2008 through 2014, the 7tth-slowest growth rate in the country. By contrast, income grew 8.9% nationwide over that period. Jobs are very important for income growth, of course, as states rely on a healthy economy to bring workers to the state. The reverse is also true, and Michigan’s working-age population shrank 8.7% from 2008 through 2013, a far larger decline than the slight drop of 0.5% across the nation. Michigan’s unemployment rate of 7.3% was also among the higher figures nationwide.

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45. Connecticut
> Personal income growth (2008-2014):
5.5%
> Per capita personal income 2014: $52,571 (2nd highest)
> Unemployment rate: 6.6% (13th highest)
> Pct. Change in labor force (2008-2014): 0.2% (23rd lowest)

Personal income in Connecticut increased 5.5% from 2008 through 2014, the 6th-slowest growth rate in the country. By contrast, income grew 8.9% nationwide over that period. Jobs are perhaps the most important factor for income growth, and a strong job market will attract more working-age adults to a state. The reverse is also true, and Connecticut’s working-age population shrank 2.6% from 2008 through 2013, a far larger decline than the slight drop of 0.5% across the nation. Connecticut’s unemployment rate of 6.6% was also among the higher figures nationwide.

46. Missouri
> Personal income growth (2008-2014):
5.5%
> Per capita personal income 2014: $43,488 (24th highest)
> Unemployment rate: 6.1% (23rd highest)
> Pct. Change in labor force (2008-2014): 1.0% (24th highest)

Relative slow income growth does not always reflect an unhealthy economy. In fact, in Missouri, where personal income grew slower than incomes across the nation, residents were relatively wealthy. The state’s personal income per capita of $43,488 was above the national figure in 2014.

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47. Maine
> Personal income growth (2008-2014):
5.1%
> Per capita personal income 2014: $39,404 (14th lowest)
> Unemployment rate: 5.7% (21st lowest)
> Pct. Change in labor force (2008-2014): -0.4% (18th lowest)

The 5.1% income growth in Maine — far slower than the 8.9% national average — accompanied a shrinking working-age population. The state’s 25-to-54-year-old population shrank nearly 7% from 2008 through 2013, nearly the largest such drop nationwide. Maine’s 2014 unemployment rate of 5.7% was up from 2008, but still lower than the national jobless rate of 6.2%.

48. Illinois
> Personal income growth (2008-2014):
2.7%
> Per capita personal income 2014: $44,039 (22nd highest)
> Unemployment rate: 7.1% (7th highest)
> Pct. Change in labor force (2008-2014): -2.0% (9th lowest)

Nationally, personal income income grew 8.9% nationwide between 2008 and 2014. In Illinois, meanwhile, personal income grew just 2.7%, the third-slowest growth rate in the country. Jobs are very important for income growth, of course, as states rely on a healthy economy to bring workers to the state. The reverse is also true, and Illinois’s working-age population shrank 3.2% from 2008 through 2013, a far larger decline than the slight drop of 0.5% across the nation. Illinois’s unemployment rate of 7.1% was also among the higher figures nationwide.

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49. New Jersey
> Personal income growth (2008-2014):
2.1%
> Per capita personal income 2014: $45,838 (11th highest)
> Unemployment rate: 6.6% (13th highest)
> Pct. Change in labor force (2008-2014): 0.3% (25th lowest)

Personal income in New Jersey increased 2.1% from 2008 through 2014, the second-slowest growth rate in the country. By contrast, income grew 8.9% nationwide over that period. Jobs are perhaps the most important factor for income growth, and a strong job market will attract more working-age adults to a state. The reverse is also true, and New Jersey’s working-age population shrank 1.6% from 2008 through 2013, a far larger decline than the slight drop of 0.5% across the nation. New Jersey’s unemployment rate of 6.6% was also among the higher figures nationwide.

50. Nevada
> Personal income growth (2008-2014):
0.8%
> Per capita personal income 2014: $37,575 (8th lowest)
> Unemployment rate: 7.8% (the highest)
> Pct. Change in labor force (2008-2014): 2.3% (17th highest)

Personal income in Nevada grew less than 1% from 2008 through 2014, the slowest growth rate nationwide. Per capita, personal income actually shrank nearly 6% over that period, also the worst rate nationwide and one of only a handful of states where income did not grow at least slightly. Nevada’s economy relies heavily on its entertainment industry, which accounted for 16.8% of GDP in 2013, up .5 percentage points from 2008 — both figures were among the largest nationwide.

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