Economic Issues

Economy's Strength Propelled Personal Income In 1998

The average per capita income for the nation's 270.3 million people rose 4.4 percent last year -- to $26,412. While that was not as large as the 4.7 percent gain registered in 1997, it probably felt like more since overall prices rose just 0.8 percent in 1998 versus 2 percent the previous year.

These figures are part of a Commerce Department report released Tuesday.

  • In 1998, average per capita income ranged from $37,598 in Connecticut to $18,958 in Mississippi.

  • The largest percentage gain was 7.8 percent in North Dakota, where farmers hurt by the Asian financial crisis got government relief payments.

  • The smallest increase, 2.1 percent, was registered in Hawaii, where tourism from Asia has declined.

  • Trailing only Connecticut, per capita income for Washington, D.C., matched the nation's 4.4 percent rise -- to $37,278.

Source: Beth Belton, "U.S. Personal Income Jumped by 4.4 Percent in '98," USA Today, April 28, 1999.

For more on Personal Income http://www.ncpa.org/pd/economy/econ7.html


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