Personal income seeing growth throughout Central Valley, State
December 18, 2017
By NORA HESTON TARTE
Business Journal Writer
Are Central Valley households earning more?
According to the U.S. Bureau of Economic Analysis, personal income experienced growth in 2016 in San Joaquin, Stanislaus and Merced counties.
San Joaquin led the charge, coming in above state and national averages at 5 percent personal income growth from 2015 to 2016. Stanislaus County and Merced County came in at 3.6 and 2.1 percent, respectively.
California counties enjoyed an average of 3.7 percent gains in personal income in 2016 and nationwide averages were 2.3 percent.
Personal income refers to all money made by people in the U.S., including total earnings from wages, investment enterprises and other ventures.
These numbers are part of a nationwide trend the BEA reported has continued in 2017, with personal income in the U.S. growing $65.1 billion, or 0.4 percent, in October.
In the second quarter of 2017, California personal incomes grew 0.7 percent on average after increasing 1.4 percent in the first quarter, according to estimates released by the Bureau of Economic Analysis.
While the numbers indicate growth, percentages are down from the previous two years in all three counties, following state and national trends.
Data for 2017 by county will not be released until November 2018.