Author Topic: Oil-rich North Dakota sees personal incomes nearly double in past decade  (Read 253 times)

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Offline mystery-ak

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Oil-rich North Dakota sees personal incomes nearly double in past decade

By Rob Port
Published March 26, 2014

North Dakota’s leaders like to refer to their state as the economic envy of the nation, and the numbers seem to back them up.

According to the most recent personal income report from the federal Bureau of Economic Analysis, the oil-rich plains state is once again leading the nation in personal income growth.

This marks the sixth time in the past seven years North Dakota has had the fastest personal income growth in the nation.

Nationally, personal income growth slowed from 4.2 percent in 2012 to 2.6 percent in 2013, but North Dakota nearly tripled the national rate at 7.6 percent. The state also was double the second rate state, Utah, which saw 4 percent growth, according to the BEA.

West Virginia saw the slowest growth in the nation at 1.5 percent.

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Offline Oceander

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Hopefully some of that oil-driven income will be used to make robust investments in ND's broader economy so that it doesn't collapse when - not if, when - the oil boom slows.
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