|
Personal income in
Idaho
rose only one percent during the spring from
last winter, substantially below the increase
posted from the final quarter of 2010 to the
first three months of 2011. Unlike the first
quarter, increased income in the second quarter
resulted from rising wage and salary payments.
Business profits were essentially flat.
Total
personal income – the value of all wages,
business profits, investment earnings and
transfer payments like Social Security and
unemployment benefits – for the April-June
period hit a record $52.8 billion on an
annualized basis, up $537 million from the
January-March quarter. That compared to an
increase of nearly 2 percent from the end of
2010 to the first quarter of 2011 – almost $1
billion.
It was
the seventh straight quarterly increase after
the U.S. Bureau of Economic Analysis revised
downward its income estimates for late 2009 and
early 2010. Personal income in
Idaho
dropped for five straight quarters before that,
falling more than 6 percent in the longest
sustained decline on record.
Nationally, personal income rose 1.1 percent.
Only 12 states – including
Oregon,
Nevada
and
Washington
– posted lower second-quarter growth rates than
Idaho.
The
government also increased its estimates of
personal income in 2009 and 2010, adding more
than $1 billion to boost the 2009 estimate to
$49.2 billion and $300 million to increase the
2010 estimate to $50.6 billion.
Wages
and salary payments accounted for nearly half
the increase in personal income from the winter
to the spring quarter. Even construction, which
has seen wages plummet 40 percent from a peak of
$3.7 billion on an annualized basis at the end
of 2007 to $2.2 billion this year, was
essentially stable from winter to spring.
|
Idaho Q2 2011 Personal Income,
Change from Q1
(annualized)
|
|
Component
|
Personal Income
|
Change from Q1 2011
|
% Change from Q1 2011
|
|
Personal income
|
$52,844,000,000
|
$537,000,000
|
1.03%
|
|
Investment
earnings
|
$9,523,000,000
|
$154,000,000
|
1.64%
|
|
Transfer
payments
|
$10,409,000,000
|
$132,000,000
|
1.28%
|
|
Net earnings
|
$32,912,000,000
|
$252,000,000
|
0.77%
|
|
Economic Sector
|
|
|
|
|
Farming
|
$2,207,000,000
|
($55,000,000)
|
-2.43%
|
|
Forestry, fishing, and related
activities
|
$371,000,000
|
$2,000,000
|
0.54%
|
|
Mining
|
$232,000,000
|
$14,000,000
|
6.42%
|
|
Utilities
|
$317,000,000
|
$5,000,000
|
1.60%
|
|
Construction
|
$2,163,000,000
|
($2,000,000)
|
-0.09%
|
|
Manufacturing
|
$3,728,000,000
|
$63,000,000
|
1.72%
|
|
Durable goods manufacturing
|
$2,439,000,000
|
$66,000,000
|
2.78%
|
|
Nondurable goods manufacturing
|
$1,289,000,000
|
($3,000,000)
|
-0.23%
|
|
Wholesale trade
|
$1,740,000,000
|
$28,000,000
|
1.64%
|
|
Retail trade
|
$2,738,000,000
|
$44,000,000
|
1.63%
|
|
Transportation and warehousing
|
$1,140,000,000
|
$28,000,000
|
2.52%
|
|
Information
|
$537,000,000
|
$9,000,000
|
1.70%
|
|
Finance and insurance
|
$1,459,000,000
|
$18,000,000
|
1.25%
|
|
Real estate and rental and leasing
|
$516,000,000
|
$0
|
0.00%
|
|
Professional, scientific, and
technical services
|
$3,220,000,000
|
$31,000,000
|
0.97%
|
|
Management of companies and
enterprises
|
$676,000,000
|
$15,000,000
|
2.27%
|
|
Administrative and waste services
|
$1,392,000,000
|
$20,000,000
|
1.46%
|
|
Educational services
|
$352,000,000
|
($2,000,000)
|
-0.56%
|
|
Health care and social assistance
|
$4,235,000,000
|
$68,000,000
|
1.63%
|
|
Arts, entertainment, and recreation
|
$323,000,000
|
$4,000,000
|
1.25%
|
|
Accommodation and food services
|
$1,011,000,000
|
$4,000,000
|
0.40%
|
|
Other services, except public
administration
|
$1,292,000,000
|
$2,000,000
|
0.16%
|
|
Government and government
enterprises
|
$6,512,000,000
|
($6,000,000)
|
-0.09%
|
|
Federal, civilian
|
$1,162,000,000
|
$4,000,000
|
0.35%
|
|
Military
|
$631,000,000
|
($6,000,000)
|
-0.94%
|
|
State and local
|
$4,718,000,000
|
($5,000,000)
|
-0.11%
|
|
Source:
U.S.
Bureau of Economic Analysis
|
|
