Last Updated on Monday, January 27 2014 15:22
The annual total personal income estimates compiled by the Regional Income and Product Divisions of the Bureau of Economic Analysis are among the most comprehensive, consistent, comparable and timely measures of economic activity available at the county and statewide level. Personal income estimates are also the best available local-level indicator of general purchasing power, and are therefore central to tracking and comparing county patterns of economic growth and change.
Personal income is all income received by individuals less employee and self-employed government contributions for social/government insurance and less income from the sale of assets (capital gains).
Personal income includes earned income, which can be viewed as compensation for labor services; property income, which represents payments in the form of dividends, interest and rent for the services of capital owned by persons; and transfer payments such as Social Security, which are by definition payments that are not related to the provision of services.