Skip to main content
  1. News
  2. Business & Finance
  3. Stock Market

Alabama personal income remains flat in third quarter

Yesterday the Bureau of Economic Analysis released its figures for personal income growth in each state for the third quarter. Personal income did not increase at all in the third quarter in Alabama. This lack of income growth is disappointing after the second quarter growth of 1.5 percent.

But the news is not all bad. Although the overall personal income did not rise, the actual earned income rose by 0.3 percent. This was offset by a decrease in the income from goevernment transfer payments, such as welfare, unemployment insurance, and stimulus payments. The composition of Alabama's income growth is improving, which is a good sign for the economy.

The U.S. personal income growth also contained more net earnings in the third quarter. While income growth in the second quarter was composed almost entirely of government transfer payments, income growth in the third quarter contained more net earnings. This positive change is due in part to the decline in the number of claims for jobless benefits. Last month's unemployment insurance claims are at a 12-month low. So although the unemployment rate remains high, the tide may be turning.

For more Alabama economic news, click here

Comments

  • victorsalmons19 4 years ago

    Photography As a Career? How does one go from a hobby photographer to taking photos as a career check out www.bit.ly/6RIBbU
    they have a online program with financial aid and scholarships! If you like photography then you much check it.

Advertisement

News

  • Israel, Hamas clash in Gaza
    At least 550 Palestinians have been killed in Gaza in the third week of the war
    Video
    Video
  • Pro-Russia guards
    President Obama criticizes pro-Russian rebels for blocking off the MH17 crash site
    World News
  • National Guard at Texas border
    Texas Gov. Rick Perry sending National Guard troops to the US-Mexico border
    US News
  • Unlikely Putin defender
    The unlikeliest US politician comes to the defense of Russia's president, Vladimir Putin
    Politics
  • iPhone 6 coming soon
    Apple is gearing up for the iPhone 6, orders tens of millions of units
    Tech
  • Gynecologist settlement
    Johns Hopkins agrees to $190M settlement for patients recorded by gynecologist
    Strange News