NEWS for North Dakotans
Agriculture Communication, North Dakota State University
7 Morrill Hall, Fargo, ND 58105-5665
November 22, 2000
North Dakota per capita personal income grew 2.4 percent in 1999 to $23,313, after growing 9.5 percent in 1998. According to the "Economic Brief" recently released from the North Dakota State Data Center at North Dakota State University, prices paid by consumers (as measured by the Consumer Price Index) increased 2.2 percent in 1999 after increasing 1.6 percent in 1998.
"This means our income growth, although relatively small, is still outpacing inflation," said Richard Rathge, director of the center. All 50 states and the District of Columbia had growth rates in per capita income that were at or above the increases in prices in both 1998 and 1999.
"Our ranking in per capita personal income has improved from 45th in 1997 to 38th in 1999. However, those in the farm sector still lag in personal earnings. Total personal income generated in the farm sector was down 64 percent from the previous year," said Rathge.
Total personal income in North Dakota rose to $14.8 billion in 1999, up 1.7 percent from $14.5 billion in 1998.
Within North Dakota, the fastest growing non-farm industry between 1998 and 1999 was construction followed by agricultural services/forestry/fishing, and finance, insurance, and real estate (14.1 percent, 11.0 percent, and 7.1 percent, respectively). The service sector is the largest generator of personal income in North Dakota accounting for more than one-third of all income from all non-farm sources and representing nearly $2.7 billion in income. The second leading economic sector is government.
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Source: Richard Rathge, (701) 231-8621
Editor: Tom Jirik, (701) 231-9629
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