Income up 6 percent in Mass. last year
Average per person incomes in Massachusetts rose 6 percent in 2007, the eighth fastest rate of growth in the nation, the Commerce Department reported today. Nationally, per capita income rose 5.2 percent.
The state's per person, or per capita, income increased to $49,082 from $46,299 in 2006. Massachusetts has the third highest per capita income in the nation, 27 percent above the national average of $38,611. Connecticut ranks first, at $54,117, followed by New Jersey at $49,194. Lousiana had the fastest income growth, 9.2 percent, followed by New York, 7.6 percent; Mississippi, 6.7 percent; and Connecticut, 6.6 percent. (A spreadsheet with state-by-state breakdowns can be viewed here.)
The Commerce Department said professional services, healthcare, and finance contributed the most to income growth over the past year. All are major employment sectors in Massachusetts.
(By Robert Gavin, Globe staff)
