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Arizona among fastest-growing states for personal income, federal data shows

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Posted at 10:34 AM, Mar 30, 2020
and last updated 2020-03-30 13:34:11-04

Arizona experienced one of the biggest increases in personal income from 2018 to 2019, according to new data released by the U.S. Bureau of Economic Analysis.

Arizona’s personal income grew by 5.9%, tied with Idaho and behind only Colorado and Utah, which reported income growth of 6.1% and 6%, respectively.

Nationwide, earnings increased 4.5% for the year.

However, while Arizona’s cumulative income increase over the year was one of the nation’s highest, the state still ranks near the bottom for per capita income.

Read more from the Phoenix Business Journal.