Personal Income Grows 5.1%

Bureau of Labor Statistics

Personal income growth in Arkansas accelerated ahead of most of the nation in the second quarter as oversized earnings from the Natural State’s volatile farming sector boosted contributions to the net state earnings.

According to the latest estimates released Tuesday  by the U.S. Bureau of Economic Analysis, state personal income grew at an annual rate of 5.1% for the three-month period ended June 30, lifting Arkansas to a 7th-place ranking among the 50 states and the District of Columbia. Arkansas’ personal income gains were well above the national average in 2017 as U.S. earnings grew only at 4.2% in the second quarter, down from 5% in the first quarter.

Governor Asa Hutchinson told Talk Business & Politics he hopes to continue building on the momentum of growing the state’s job market.   MORE

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