Arkansas metros see income gains in 2010

All eight metro areas within or connected to Arkansas saw overall personal income rise in 2010, with the Jonesboro area posting the largest percentage increase and central Arkansas posting the lowest increase.

All but four of the nation’s 366 metropolitan statistical areas posted personal income gains in 2010 following a moderate pace in 2009, according to a Tuesday report from the U.S. Bureau of Economic Analysis.

Personal income in the metropolitan portion of the United States rose 2.9% in 2010 after falling 1.9% in 2009. Personal income growth in 2010 ranged from 10.1% in Elizabethtown, Ky.,  to -0.9% in Grand Junction, Colo.

However, the disposable nature of the income received some pressure. Inflation jumped to 1.8% in 2010 from 0.2% in 2009, according to the BEA report.

EARNINGS BY INDUSTRY (all U.S. metro areas)
• Earnings grew in the government sector and in 18 out of 21 private industries in 2010. In two of these industries — professional services and the management of companies — the 2010 earnings increase was sufficient for them to recover from the earnings declines in 2008 and 2009.

• The health care and educational services industries (which are not cyclical) continued to expand in 2010, growing 3.3% and 6.2%, respectively.

• In the other 14 private industries that grew in 2010 (durable goods manufacturing, nondurable goods manufacturing, and finance) earnings grew 2.8% (on average) in 2010 after falling 6.5% in 2009.

• A 4.5% decline brought construction earnings to their lowest level since 2001, and a 2.1% decline brought real estate earnings to their lowest level in the 10-year history for the data.

• Earnings fell 0.1% in the utilities industry following a 1.4% increase in 2009.

ARKANSAS NUMBERS
The Little Rock-North Little Rock-Conway area — the largest metro area contained within the state — saw overall personal income increase to $27.403 billion. Of the state’s three largest metro areas, the Little Rock metro was the only one to not see a decline between 2008 and 2009. The Northwest Arkansas metro and the Fort Smith metro saw the 2009 figures fall 0.35% and 1.53%, respectively.

Northwest Arkansas
2010: $15.356 billion
2009: $14.764 billion
2008: $14.817 billion

up 4% over 2009 and up 3.63% over 2008; In terms of percentage change, moved from 153 to 61

Fort Smith
2010: $9.395 billion
2009: $9.054 billion
2008: $9.195 billion

up 3.8% over 2009 and up 2.17 over 2008; In terms of percentage change, moved from 240 to 74

Hot Springs
2010: $3.413 billion
2009: $3.320 billion
2008: $3.308 billion

up 2.8% over 2009 and up 3.17% over 2008; In terms of percentage change, moved from 99 to 189

Jonesboro
2010: $3.813 billion
2009: $3.627 billion
2008: $3.616 billion

up 5.1% over 2009 and up 5.4% over 2008; In terms of percentage change, moved from 108 to 25

Little Rock-North Little Rock-Conway
2010: $27.403 billion
2009: $27.029 billion
2008: $26.706 billion

up 1.4% over 2009 and up 2.6% over 2008; In terms of percentage change, moved from 42 to 351

Memphis-West Memphis
2010: $50.613 billion
2009: $49.095 billion
2008: $50.222 billion

up 3.1% over 2009 and up 0.77% over 2008; In terms of percentage change, moved from 301 to 147

Pine Bluff
2010: $3.069 billion
2009: $2.975 billion
2008: $2.940 billion

up 3.2% over 2009 and up 4.38% over 2008; In terms of percentage change, moved from 43 to 134

Texarkana
2010: $4.720 billion
2009: $4.553 billion
2008: $4.523 billion

up 3.7% over 2009 and up 4.35% over 2008; In terms of percentage change, moved from 74 to 81