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Growth in personal income in Florida is sixth strongest in the country

The increase in personal income in Florida was sixth best in the nation.

 (AP Photo/Julie Jacobson) NYBZ155
The increase in personal income in Florida was sixth best in the nation.

 (AP Photo/Julie Jacobson) NYBZ155
Published Sep. 30, 2016

Times staff

Personal income in Florida rose 1.2 percent in the second quarter, the sixth-strongest performance in the country, according to government data released Wednesday.

With a total of $935 billion in personal income statewide, Florida trails only California ($2.17 trillion), Texas ($1.32 trillion) and New York ($1.19 trillion), the Bureau of Economic Analysis reported.

The single-largest component of income growth — higher earnings — rose 1.3 percent in Florida, led by higher earnings in health care.

Nationally, personal income grew 1 percent to $15.9 trillion while earnings grew 1.2 percent.

In Utah, the state with the fastest growth in personal income, earnings grew 1.5 percent, with transportation and warehousing earnings as the top contributor to growth.

Income growth is viewed as a major indicator of the country's economic health — that is, as long as inflation is kept in check and people have more disposable income.

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