November 21, 2002

North Dakota Income Growth Outpaces Inflation, but Lags Behind National Average

While North Dakota per capita personal income is growing faster than inflation, personal income in the state still lags behind the national average, according to information from the North Dakota State Data Center at North Dakota State University.

North Dakota per capita personal income grew 3.6 percent in 2001 to $25,902, up from $25,007 in 2000. According to the Economic Brief recently released from the State Data Center, prices paid by consumers (as measured by the Consumer Price Index) increased 2.8 percent in 2001. This means North Dakota’s income growth, although relatively small, is still outpacing inflation.

"Unfortunately, we have not been able to narrow the income gap between earnings in the state and the nation," said Richard Rathge, director of the State Data Center. Nationally, North Dakota ranks 38th in per capita income, 15.0 percent below the U.S. average of $30,472. Connecticut ranked first at $42,435, followed by Massachusetts and New Jersey ($38,907 and $38,509, respectively).

Total personal income in North Dakota rose to $16.4 billion in 2001, up 2.5 percent from $16 billion in 2000.

Within North Dakota, the fastest growing non-farm industry between 2000 and 2001 was state and local government followed by mining (15.7 percent and 10.9 percent, respectively).

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Source: Richard Rathge, (701) 231-8621, richard.rathge@ndsu.nodak.edu
Editor: Tom Jirik, (701) 231-9629, tjirik@ndsuext.nodak.edu

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