Mississippi Personal Income Grows Slightly

By  | 

The federal Bureau of Economic Analysis said Tuesday.
that personal income in Mississippi grew at a 1.2 percent annual rate in the second quarter of 2012. That's sixth-highest among the states. Personal income grew 1 percent nationwide.

Workplace earnings and government payments grew faster than the nation, while dividend, interest and rent income trailed slightly.

Agriculture was the top contributor to Mississippi's strong performance.

The bureau also revised its initial estimate of Mississippi's first quarter performance, saying personal income grew 1 percent, instead of shrinking as officials originally figured.

That income decline, along with falling payrolls, had contributed evidence that Mississippi had stumbled back into recession.

Personal income is all income received by everyone from every source, including wages, business owner profits, interest, dividends, rent and government transfers.