News Column

Personal Income Rose 4 Percent in Calif. in 2012

April 4, 2013

Phillip Reese, The Sacramento Bee

Californians made about $65 billion more in 2012 than during 2011, largely due to gains from the stock market and other investments, new federal figures show.

The 4 percent boost in personal income outpaced the nationwide average of 3.5 percent -- and the rate of inflation. It coincides with a drop in unemployment and a rise in the stock market.

Earnings from work grew by 4.1 percent; income from investments grew by 6 percent and income from government transfers like unemployment benefits and social security grew by 1.3 percent.

Still, the amount of income per person remains well below the level from 2007, the last year before the recession. That year, in current dollars, income per capita was about $47,964; last year, it was $44,980.

This chart shows per capita personal income in California over the last 20 years, adjusted for inflation to current dollars.

Source: U.S. Bureau of Economic Analysis

Source: (c)2013 The Sacramento Bee (Sacramento, Calif.) Distributed by MCT Information Services

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