Missouri’s personal income on the rise

Missouri residents’ personal income grew 3.1 percent in the first quarter, according to data released this morning by the U.S. Bureau of Economic Analysis.

During the first three months of the year, Show-Me State personal income came to $272.7 billion, up from $264.4 billion in first-quarter 2017, according to a news release.

Missouri had the second-highest personal income in the seven-state Plains region measured by the BEA. Minnesota was first, at $303.3 billion.

The national first-quarter personal income total was $16.8 trillion, a 3.6 percent increase from the same time period in 2017, according to the release.

Personal income is determined by adding together net earnings, dividends, interest and rent, and transfer payments, according to the BEA.