Personal income up nearly 5% in Louisiana last year

Income received by all people from all sources—job earnings, investment income, property income and government payments—rose by 4.8% last year in Louisiana as the petroleum and manufacturing industries enjoyed a strong 2011, the federal Bureau of Economic Analysis reports today. Louisiana’s personal income rose from $168.36 billion in 2010 to $176.5 billion in 2011. On a per-person basis, that translates to $37,039 in 2010 and $38,578 in 2011. The mining category, which includes oil and gas, saw a $638 million jump in earnings in Louisiana last year. But the BEA also divides manufacturing into durable goods—those expected to last at least three years—and nondurable goods. Put together, manufacturing in Louisiana pulled in $668 million more in earnings in 2011 than in 2010. The BEA says personal income among the 50 states and the District of Columbia rose by an average 5.1%, ranging from 3.4% in Maine to 8.1% in South Dakota. Read the full story from The Associated Press here for more specifics on the Louisiana numbers; and see the complete report form the BEA at its website here.