As a state, we've got more dough
DAVID COLE/Staff writer | Hagadone News Network | UPDATED 12 years AGO
COEUR d'ALENE - Strong business profits and modest wage and salary increases offset weakness in some agricultural areas of Idaho to increase personal income in 2012 across nearly all of the state.
Statewide, personal income was up 3.9 percent from 2011, a third of a percentage point below the national increase.
Kootenai County was up 4 percent with total income at $4.93 billion in total income, while Benewah County increased 4.4 percent with $321 million. Shoshone County was higher still at 4.9 percent, with $442 million in total income.
Rural counties, in terms of percent increase, performed better than their urban neighbors.
The U.S. Bureau of Economic Analysis estimated total personal income in Idaho's 33 rural counties at $18.5 billion, up 4.3 percent from 2011. It was two-tenths of a percentage point higher than the national increase.
In the 11 urban counties, total personal income hit $91.5 billion, up 3.9 percent from 2011.
The stronger performance in rural Idaho boosted its share of total state personal income to 33.7 percent. That's up half a percentage point from the depths of the recession.
Personal income is the total of all wages, salaries, business profits, investment earnings and transfer payments like Social Security, pensions and government assistance.
On a per capita basis, personal income increased 3 percent in Kootenai County to $34,656.
The statewide increase was 3.1 percent to $34,481, while nationally per capita was up 3.4 percent to $43,735.
Urban population increased 1 percent while rural population rose just 0.2 percent, so fewer people in the rural areas divided up higher income to increase the per capita amount.
Total business profits - both on and off the farm - rose 8.6 percent in rural Idaho compared with a 5.4 percent increase in the urban areas. Nationally business profits were up 6 percent.
Wages increased at about the same rate across the state, 2.5 percent in urban counties and 2.4 percent in rural areas. That compares with the 4.3 percent increase nationally.
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