La. sees third-best personal income growth in 3Q
Louisiana's 0.4% increase in personal income in the three months ending Sept. 30 was third best among all U.S. states—and the best among all southeastern states—according to a report released today by the U.S. Bureau of Economic Analysis. Nationwide, personal income saw just 0.1% growth on average from the second quarter. Growth rates ranged from -0.4% in West Virginia to 0.6% in Washington state. Personal income fell or was unchanged in twenty states and grew 0.2% in the other thirty. The BEA reports personal income of all persons—from all sources—was $176 billion in Louisiana in the third quarter. The largest industry increase in the state came in health and social services, which grew by 3% in the quarter, or $398 million. The largest decrease came in the information industry, which dipped 2.2%, or $34 million. See the report's highlights here.
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