Per-Capita Personal Income by State: 2000-2010Estimates of personal income were released by the U.S. Bureau of Economic Analysis on March 23, 2011. However, because intercensal population estimates were not available, per-capita figures will not be available from BEA until September 2011.
The links on this page include provisional per-capita income figures for each state along with rates of change, rankings, adjustments for inflation, and provisional estimates of intercensal population. These figures were produced by the Michigan Department of Technology, Management, and Budget based on personal income and inflation statistics from the U.S. Bureau of Economic Analysis and population statistics from the U.S. Census Bureau.
Personal Income Trends for Michigan
Michigan had the nation's sixth highest rate of growth in per-capita income from 2009 to 2010. This is Michigan's highest ranking for this statistic since 1994.
Fluctuations in per-capita personal income have been very consistent with other statistics that reflect the recessions and recoveries that Michigan experienced over the past decade:
- Michigan's per-capita income decreased during the recession of 2001.
- Michigan out-performed the nation by a small amount during its brief recovery from the 2001 recession.
- The state's per-capita income diverged dramatically from national trends during Michigan's one-state recession from late 2002 through 2006.
- Michigan's personal income statistics improved slightly relative to the rest of the nation during the brief period between its one-state recession and the national recession.
- Michigan followed national trends quite closely as the U.S. fell into a deep recession in 2008 and 2009.
- Per-capita income started to grow more rapidly in Michigan than in the U.S. as a whole once the nation began to recover from its latest recession.
It is typical for economic recoveries to be somewhat earlier and stronger for Michigan than for the rest of the nation, and that is what appears to be happening in the current recovery.
Michigan's per-capita income was somewhat above the national level from the middle of the Great Depression until 1980. Aside from brief dips below the national level during the recessions of the early 1980's and 1992, Michigan's per-capita income remained approximately equal to the national level from 1980 through 2000. It then diverged sharply from the national level during the national recession of 2001 and the subsequent one-state recession. Michigan's per-capita income has closely followed the ups and downs of the national figure from 2007 through the present, but it remains substantially below the national level.
The patterns described above can be seen in the charts below
Total Personal Income by State: 2000-2010
Per-Capita Personal Income by State: 2000-2010
Annual Change in Per-Capita Personal Income by State: 2000-2010
State Rankings by Per-Capita Personal Income: 2000-2010
Real Per-Capita Personal Income by State: 2000-2010
Change in Real Per-Capita Personal Income by State: 2000-2010