Personal income in Washington topped the list in the first quarter of 2014, ahead of the nation’s 0.8 percent gain, says a report from the U.S. Bureau of Economic Analysis (BEA).
For the first three months of this year, personal income rose in 46 states, with Washington leading the way at 1.4 percent. This is great news after a fourth quarter in which personal income growth in our state stood at 0.3 percent.
Personal income is defined by the BEA as income received by all persons from all sources. It is the sum of net earnings by place of residence, property income, and personal current transfer receipts.
Quarterly data found here includes industry breakdowns of wages and salaries, and other analyses.
This week we also learned that on CNBC’s “Top States for Business” report, Washington ranks No. 2 in economy, No. 4 in innovation and No. 6 in quality of life. Overall, CNBC concludes that Washington is the 7th top state for business.
Making top-ten lists is not new to Washington, but getting frequent reassurance that we’re on the right track is always welcome news.