Arkansas per capita incomes rise in 2011

All eight of the metro areas in or connected to Arkansas saw per capital personal income gains during 2011, with Jonesboro seeing the largest percentage gain, and the Fort Smith region posting the lowest percentage gain.

The numbers, from the U.S. Bureau of Economic Analysis, had the central Arkansas metro area with the highest per capita income at $39,899, and Pine Bluff the lowest at $30,866.

Personal income rose in 2011 in all of the nation’s 366 metropolitan statistical areas (MSAs) for the first time since 2007, according to the BEA report released Nov. 26.

Personal income growth ranged from 14.8% in Odessa, Texas, to 1% in Rochester, Minn. Personal income in the U.S. rose 5.2% in 2011, up from 3.8% in 2010.

Inflation, as measured by the national price index for personal consumption expenditures, accelerated to 2.4 % in 2011 from 1.9 % in 2010.

Following is other data included in the BEA report.
• In 2011, personal income grew on average 5.2% across all MSAs – which accounted for 87% of the nation’s personal income – up from 3.9% in 2010.

• Earnings grew 5.5% and property income (personal dividends, interest, and rent) grew 7.6% for all MSAs in 2011, up from 3.6% and 1.8% respectively in 2010.

• The growth of current transfer receipts (including Social Security, Medicare, and unemployment insurance) slowed to 1.5% in 2011, down from 7.1% in 2010.

• Per capita personal income (personal income divided by population) in MSAs in 2011 ranged from $78,504 in Bridgeport-Stamford-Norwalk, Ct., to $21,620 in McAllen-Edinburg-Mission, Texas.

• Per capita personal income for the nation was $41,560.

ARKANSAS METRO AREAS
The Northwest Arkansas (Fayetteville-Springdale-Rogers) metro area posted per capita personal income (PCPI) of $34,130 during 2011. This figure ranked 255th in the U.S. and was 82% of the national average of $41,560. In 2001 the PCPI of Fayetteville-Springdale-Rogers was $24,966 and ranked 260th in the U.S. The 2001-2011 compound annual growth rate of PCPI was 3.2 %. The compound annual growth rate for the nation was 2.9 %.

The Fort Smith region had a PCPI of $31,782, 306th in the U.S. and was 76% of the national average. In 2001 the PCPI was $23,321 and ranked 321st in the U.S. The 2001-2011 compound annual growth rate of PCPI was 3.1%. The compound annual growth rate for the nation was 2.9%.

Hot Springs PCPI in 2011 was $35,355, 211th in the U.S. and 85% of the national average. In 2001 the PCPI of Hot Springs was $25,302 and ranked 245th in the U.S. The 2001-2011 compound annual growth rate of PCPI was 3.4 %. The compound annual growth rate for the nation was 2.9 %.

Jonesboro had a PCPI of $32,141, 296th in the U.S. and 77% of the national average. In 2001 the PCPI of Jonesboro was $22,709 and ranked 334th in the U.S. The 2001-2011 compound annual growth rate of PCPI was 3.5%. The compound annual growth rate for the nation was 2.9%.

The Little Rock-North Little Rock-Conway area had a PCPI of $39,899, 112th in the U.S. and 96% of the national average. In 2001 the PCPI of the area was $28,778 and ranked 129th in the U.S. The 2001-2011 compound annual growth rate of PCPI was 3.3%. The compound annual growth rate for the nation was 2.9%.

The Memphis-West Memphis region had a PCPI of $38,622, 139th in the U.S. and 93% of the national average. In 2001 the PCPI of Memphis was $30,961 and ranked 82nd in the U.S. The 2001-2011 compound annual growth rate of PCPI was 2.2%. The compound annual growth rate for the nation was 2.9%.

Pine Bluff had a PCPI of $30,866, 333rd in the U.S. and 74% of the national average. In 2001 the PCPI of Pine Bluff was $20,847 and ranked 352nd in the U.S. The 2001-2011 compound annual growth rate of PCPI was 4%. The compound annual growth rate for the nation was 2.9%.

Texarkana had a PCPI of $34,776, 231st in the U.S. and 84% of the national average. In 2001 the PCPI of Texarkana was $23,705 and ranked 312th in the U.S. The 2001-2011 compound annual growth rate of PCPI was 3.9%. The compound annual growth rate for the nation was 2.9%.