Minnesota personal incomes increased more in 2012 than just about all other states
Of course, the per capita income data doesn't account for the possibility of unequal growth between rich and poor Minnesotans.
Image by Tatiana Craine
According to the latest U.S. Department of Commerce data, per capita personal income in the state grew from $44,560 in 2011 to $46,227 last year. That 4.41 percent increase was the sixth highest in the nation, behind only NoDak (incomes there grew a whopping 12.38 percent!), Texas (4.85 percent), Utah (4.66 percent), Washington (4.51 percent), and Montana (4.48 percent).
According to Twin Cities Business, per capita personal income in Minnesota was $43,466 in 2008. That number dropped to $40,950 in the depths of the recession in 2009 before steadily bouncing back to $46,227 last year.
For the nation as a whole, per capita personal income for 2012 was $42,693, a 3.5 increase over 2011.
As hot was Minnesota's economy seems to be, Wisconsin's is equally cold. Per capita personal incomes for residents of the Land of Cheese grew by 2.69 percent to $40,547 last year, which was good for the 10th-smallest increase in the nation.
Surprisingly, South Dakota ranked by far the lowest of any state in terms of 2011-to-2012 personal income growth. SoDak was actually the only state to experience negative growth, with incomes falling 0.2 to $43,659 from the year prior.
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