Texas Leads Nation in Total Personal Income Growth
The Lone Star State leads the nation in total income growth.
This comes from bizjournals.com, which highlights a report from the U.S. Bureau of Economic Analysis.
The report shows that the total personal income in Texas hit $1.07 trillion in the second quarter of the year, a 71 percent increase from the $626.7 billion TPI a decade ago.
TPI is the income received by all people from all sources in a particular year, covering all employment wages and government benefits such as Social Security and welfare payments.
Texas is responsible for 8.02 percent of the TPI of the United States, an increase of 1.1 percent from 2002’s 6.92 percent.
Florida is second in TPI in the nation with $778 billion for 2012, making up 5.82 percent of the U.S. total.
More information is available from bizjournals.com.