Mass. Personal Income Growth Speeds Up
While the United States as a whole saw personal income slow from the second quarter to the third quarter, the Bay State saw faster growth, according to the federal Bureau of Economic Analysis.
Personal income, which is income received from all sources, grew three-tenths of a percent in Massachusetts in the third quarter, up from one-tenth of a percent in the second quarter.
That was still below the national average of half a percent, though that was down from seven-tenths of a percent in the second quarter.
In Massachusetts, earnings grew in seven sectors and shrank in two. The biggest increase was in management of companies and enterprises, which saw growth of 2 percentage points. The biggest decrease was in administrative and waste management services, which saw a decline of eight-tenths of a percentage point.
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