Alabama Per Capita Income Grows 4.2 Percent in 1997
- July 29th, 2019
Alabama Per Capita Income Grows 4.2 Percent in 1997
Alabama’s per capita income rose a moderate 4.2 percent in 1997, below the U.S. average increase of 4.7 percent. Still, the 4.2 percent increase was more than double the 1.9 percent increase in prices paid by consumers during the year. State per capita income of $20,699 was 81.8 percent of the national average of $25,298. Alabama ranked 39th among the 50 states on per capita income in 1997.
In 1987 Alabama’s per capita income ranked 44th in the nation. Over the past ten years, per capita income in the state has grown at an average annual rate of 5.3 percent, compared to an average growth rate for the United States of 4.7 percent.
States with the strongest growth in per capita income in 1997 include Connecticut (6.3 percent), Texas (6.1 percent), Washington (5.8 percent), Kentucky (5.8 percent), and Massachusetts (5.6 percent). Connecticut, at $35,954, had the highest per capita income among the 50 states, while Mississippi’s $18,087 was the lowest.
Among the 12 states in BEA’s southeastern region, Alabama was sixth in 1997, with South Carolina and Kentucky close behind. Virginia’s per capita income of $26,172 was the highest in the region. Other states ranked in the top five in the Southeast include Florida ($24,795), Georgia ($23,893), North Carolina ($23,174), and Tennessee ($22,752).
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