Louisiana trails national growth rate in personal income
NEW ORLEANS - Personal income in Louisiana grew at a 0.8 percent annual rate in 2015's first quarter.
Figures released Monday by the U.S. Commerce Department showed growth rebounded from 0.5 percent in the last quarter of 2014. Louisiana trailed the national growth rate of 0.9 percent, ranking 35th among states.
Personal income is all income received from every source, including wages, business owner profits, interest, dividends, rent and government transfers.
Half of Louisiana's growth came from transfer payments from government sources, followed by workplace earnings.
Negative performance in oil and gas extraction weighed down Louisiana's performance. Top growth sectors were professional, scientific, and technical services; health care and social assistance and agriculture.
Florida led states with growth at a 1.3 percent annual rate, while Iowa was last with a 1.2 percent decline.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Police chief says no reason to be alarmed despite 8 shootings in...
Push for "City of St. George" could return, but with obstacles
Paratroopers jump into the Box as LSU welcomes military, baseball season
Chief: More police, partnerships will work to curb violent streak
INVESTIGATIVE UNIT: US Marshals searching for escaped WBR inmate