Tuesday, August 9, 2011

New Total Personal Income Estimates at the Metropolitan Statistical Level

The U.S. Bureau of Economic Analysis (BEA) has just released 2010 total personal income estimates for U.S. Metropolitan Statistical Areas (MSAs). According to BEA, personal income rose in 2010 in all but four of the nation’s 366 metropolitan statistical areas. Fortunately, none of Utah's five MSAs ranked among those with declining personal income. On the other hand, some MSAs performed far better than others. Overall, personal income in the U.S. increased 2.9 percent between 2009 and 2010. Here's a few highlights of the MSA stats:

Logan, UT-ID MSA--Personal income in this MSA totaled $3.4 billion in 2010, an increase of 4.1 percent from the previous year. This ranked this MSA 53rd in terms of growth--the highest of any Utah area. This area also showed the highest gains in net earnings--3.4 percent.

Ogden-Clearfield, UT MSA-- In 2010, personal income in this MSA reached $18.2 billion reflecting a 2.7 percent gain over 2009. This MSA showed the third highest growth in personal income among Utah MSAs and ranked 197 (out of 366 MSAs) nationally.

Provo-Orem, UT MSA--With total personal income expansion of 2.8 percent, this MSA tied for second in the Utah ranking and 179 nationally in terms of 2010 growth. During 2010, total personal income measured roughly $13.4 billion.

 St. George, UT MSA--This MSA showed the worst growth performance in the state. Between 2009 and 2010, personal income increased only 1.5 percent to equal $3.6 billion. Still suffering from the economic downturn, net earnings in this MSA dropped by 1.1 percent--the only decline among the Utah MSAs. Nationally, St. George ranked 344 for percent growth nationally.

Salt Lake City, UT MSA--Utah's most populous MSA experienced a 2.8 percent increase in total personal income during 2010. That places Salt Lake City in the number 176 spot for growth among MSAs nationwide. Here, total personal income is estimated at $43.6 billion.

For the complete release on personal income from the Bureau of Economic Analysis, click here.