Hawaii Personal income on the rise
Posted by Tony Kawaguchi, RA on Tuesday, June 22nd, 2010 at 6:40pm.Personal income in Hawaii grew at the sixth-fastest rate in the nation through the first quarter of this year, according to an article this morning in the Star.
Hawaii residents' personal income rose by 1.35 percent compared with the fourth quarter of 2009, according to the report released by the U.S. Bureau of Economic Analysis.
GAINING STRENGTHStates with biggest increases in personal income in the first quarter of 2010 compared to the fourth quarter of 2009.1. Mississippi 1.6% Source: Bureau of Economic Analysis
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Transfer receipts, which includes federal stimulus funds and other federal payments to states, accounted for nearly 40 percent of Hawaii's increase in personal income, the BEA reported.
Federal stimulus funds, the bulk of which were for government and private sector capital improvement projects, created 2,566 jobs in Hawaii during the first three months of the year, according to a separate federal report released last month.
For all of 2010, personal income is projected to grow by 1.9 percent, according to the state Department of Business, Economic Development & Tourism, up from a 0.4 percent increase in 2009.
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