Personal incomes rise 1.1 percent in 3rd quarter of 2016
PORTLAND, Maine (AP) — Data from the federal Bureau of Economic Analysis shows that the personal incomes of Maine residents rose 1.1 percent in the third quarter of this year, which is the 25th highest growth rate in the nation.
Personal income in Maine was $59.5 billion compared to $58.9 billion during the previous quarter.
Net earnings, which includes wages, salaries, bonuses and business owners’ income, increased 1.5 percent compared to the second quarter.
In terms of industry, health care and social assistance posted the fasted income growth figures.
Massachusetts and New Hampshire saw incomes grow 1.3 percent.
South Dakota had the highest personal income growth in the country at 1.8 percent.