Idaho's personal income drops slightly

After four consecutive quarters of growth and increasing by nearly 2 percent between the third and fourth quarters of 2014, Idaho’s personal income showed very little change during the first quarter of 2015 and dropped by a tenth of a percentage point to $62.76 billion.

Nationwide, average state personal income for Q1 2015 increased by less than 1 percent, according to figures released earlier this month by the Bureau of Economic Analysis.

Personal income refers to an individual’s total earnings from wages, investment enterprises and other ventures, and reflects the sum of all incomes actually received by all individuals or households during a given period. The three components that make up personal income include dividends, interest and rent; net earnings and transfer receipts.

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