The amount of money Louisiana residents brought in during the first quarter of 2009 was down 0.6%, when compared to the last three months of 2008. According to the U.S. Department of Commerce’s Bureau of Economic Analysis, personal income in Louisiana was $161.1 billion during the first three months of the year, compared with $162.1 billion in the fourth quarter. That’s slightly ahead of the national average, which fell by 0.5% in the first quarter. Thirty-seven states saw drops in personal income because of widespread job losses, low interest rates and smaller corporate dividend payments. Hawaii had the biggest increase in personal income, increasing by 0.8% because of rising government and military salaries. Alaska saw a 3.2% drop in personal income because of a special oil revenue payment in 2008. For more information, click here.
Personal income drops slightly in Louisiana
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