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The Honolulu Advertiser
Posted on: Thursday, June 18, 2009

Hawaii personal income growth tops all states in 1st quarter

Advertiser Staff

Personal income in Hawaii grew at the fastest rate of any state in the first quarter, according to new data from the U.S. Bureau of Economic Analysis.

It said personal income here rose 0.8 percent compared to the prior three months driven by earnings growth in the federal civilian and military sectors because of first-quarter pay raises as well as some initial hiring for the 2010 Census.
The rate compared to the national average, which fell 0.5 percent as earnings in 37 states declined.
Personal income represents income received from all sources, including wages and salaries, business owner income, rental income, interest and dividends and transfer payments.
Hawaii’s gain came after two quarters of declines. Alaska had the largest percentage decrease in personal income at 3.2 percent. The Bureau of Economic Analysis said Alaska’s decline occurred as payments to residents from the Alaska Permanent Fund returned to regular levels. There had been a special $2,000 payment to Alaska residents in 2008.