Personal income rose in Kentucky in 2013, but at lower rate than U.S. average

Kentucky per capita personal income ranks 45^th in U.S.

LEXINGTON, Ky. (Nov. 20, 2014) — Personal income grew in 2013 in 2,695 counties, fell in 390, and was unchanged in 28, according to estimates released today by the U.S. Bureau of Economic Analysis.

On average, personal income rose 2 percent in 2013 in the metropolitan portion of the U.S. and rose 2.1 percent in the nonmetropolitan portion. The metropolitan and nonmetropolitan portions grew 5.3 percent and 4.4 percent, respectively, in 2012.

In 2013, Kentucky had a per capita personal income (PCPI) of $36,214, an increase of 1 percent from 2012, which ranked 45th in the U.S. and was 81 percent of the national average of $44,765.

In 2003, the PCPI of Kentucky was $26,750 and ranked 43rd in the U.S. The 2003-2013 compound annual growth rate of PCPI was 3.1 percent. The compound annual growth rate for the nation was 3.2 percent.

In 2013, Kentucky had a total personal income (TPI) of $159,171,693, which ranked 28th in the U.S. In 2003, the TPI of Kentucky was $110,132,754 and ranked 27th.

The population of Kentucky in 2013 was 4,395,295, making it the 26^th most populous state in the nation.