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Wyoming Personal Income Growth Slows

Wyoming’s personal income grew at a rate of 0.4 percent for the first quarter of 2014, a slowdown from the 1.2 percent growth of the previous quarter according to the U.S. Bureau of Economic Analysis. Personal income for the Rocky Mountain region grew at a faster pace of 1.0 percent while the U.S. recorded growth of 0.8 percent.

“Declining crop prices plagued the Rocky Mountain and Plains regions at the start of 2014,” Jim Robinson, principal economist for the state’s Economic Analysis Division commented. “Construction activity in Wyoming and the surrounding states has been at a high level for some time leaving little room for more projects or growth.”

Personal income is defined as income received by all persons from all sources including wages, interest and dividends, rental income, and government transfer payments.