State personal income grows

Published Oct 1, 2013 at 05:00AM

Oregon’s personal income grew about 1.1 percent in the second quarter of this year, over the first quarter, according to figures released Monday by the federal Bureau of Economic Analysis.

State personal income serves as a gauge of economic activity. It equals the sum of wages and salaries; dividends, interest and rent; and transfer receipts, such as unemployment and Medicare benefits, for all people in the state.

Arizona and Florida saw the greatest growth, with both states showing increases of 1.5 percent in the second quarter, which ended June 30, according to the bureau.

For Oregon, an increase in dividends interest and rent accounted for most of the second-quarter growth.

However, most states saw declines in overall personal income in the first quarter, the bureau said. The drops stemmed in large part from the ending of the temporary payroll tax cut on Jan. 1.