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Jon Talton

Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.

November 20, 2014 at 10:27 AM

Metro income growth hits the brakes

Growth in per-capita personal income (PCPI) for Seattle-Tacoma-Bellevue slowed to 1.1 percent last year after turning in a blistering 6.3 percent rise in 2012. We ranked 223 out of about 370 metros, according to the U.S. Bureau of Economic Analysis. The national average was a 2 percent increase.

Still, at $55,190 we were well above the national average of $44,765. King County’s PCPI was $62,770. Pierce County posted $43,982 and increased only 0.7 percent.

Per-capita income is a key indicator of personal well-being. But it has its limitations. It sweeps in everybody’s income — Bill Gates and the part-time fast-food fry cook. The “why” of the slowdown last year isn’t clear but it was in evidence nationwide.

Elsewhere in the Northwest for 2013:

  • Snohomish County: $46,733, up 0.2 percent.
  • Anchorage: $52,696, up 0.5 percent.
  • Boise: $36,780, up 2.7 percent.
  • Olympia: $44.481, up 0.6 percent.
  • Portland: $43,278, up 1.2 percent.
  • Spokane: $37,987, up 1.8 percent.
  • Walla Walla: $38,990, up 1.2 percent.
  • Wenatchee: $39,128, up 1.6 percent.
  • Yakima: $36,497, up 1.3 percent.

Today’s Econ Haiku:

If Delta should win

Demonstrate in Atlanta

Fly on Airbuses


 

Comments | More in Pacific Northwest economy | Topics: Northwest economy, Personal income, Seattle economy

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