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May 19, 2005 Transfer Receipts Continue to Represent Significant Segment of North Dakota’s Economy Transfer receipts accounted for 14.8 percent of all personal income received by North Dakota residents in 2003, down from 15.7 percent in 2002. This month’s “Economic Briefs,” a monthly publication from the North Dakota State Data Center at North Dakota State University, focuses on current personal transfer receipts, which are payments by government and business to individuals and nonprofit institutions serving individuals. North Dakota residents received $2.71 billion in personal transfer receipts in 2003, with the vast share coming from government (95.6 percent). The largest category of transfer receipts for North Dakota residents in 2003 consisted of retirement and disability insurance payments ($1.19 billion), followed by medical benefits ($1 billion) and income maintenance benefits ($191 million). The remaining $204 million of government transfer payments to individuals in North Dakota included unemployment insurance benefits, veterans’ benefits, federal education training and assistance payments, Bureau of Indian Affairs payments, disaster relief and other special payments to individuals. “Transfer receipts represent a significant segment of the state’s economy at 14.8 percent of total personal income,” says Richard Rathge, State Data Center director. “The service sector is the leading income producer in North Dakota at 19.2 percent, followed by government-sector jobs at 17.5 percent. “Focusing on the 49 nonmetropolitan counties in the state, transfer receipts account for 18 percent of total personal income; government-sector jobs, 17.3 percent; and services account for approximately 10 percent,” Rathge says. Currently, 18 North Dakota counties show personal transfer receipts capturing at least 20 percent of all personal income received by residents. Nationally, transfer receipts captured 14.6 percent of all personal income received by individuals in 2003. West Virginia and Mississippi showed the largest proportions (26.8 percent and 21.3 percent, respectively), while Colorado had the smallest proportion (9.6 percent). ### Source: Richard
Rathge, (701) 231-8621, Richard.Rathge@ndsu.edu
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North Dakota State University |
