Income slowdown also hits Mississippi

By Dennis Seid/NEMS Daily Journal

JACKSON – Mississippi joined 40 other states in registering a slowdown in personal income during the third quarter.
The federal Bureau of Economic Analysis said Friday that personal income in the state, in comparison with the second quarter, grew 0.4 percent. Mississippi’s personal income grew 1.7 percent during the second quarter.
Much of the drop is blamed on income declines in construction, real estate and government and weak growth in the finance sector.
Personal income is the sum of all income from all sources. It includes wages after taxes, investment income, rental income, retirement payments and government payments.
Throughout the United States, personal income grew 0.7 percent during the third quarter, a slowdown from 1.4 percent in the second quarter. The southeastern region, including Mississippi and 11 other states, recorded an increase of 0.2 percent during the third quarter – down from 1.4 percent in the second quarter.