Personal Income Growth Is Strong In Idaho, But Isn't Keeping Up With Inflation
Over the past year, Idahoans’ personal income has grown faster than all but one state, according to a new survey.
When we’re talking about personal income, that doesn’t just mean your salary. It includes any kind of money you earn from Social Security, the money your employer puts in your retirement plan or that second house you might rent out down the street.
In 2017, that kind of income grew 3 percent over the year before, leaving Idaho only trailing Washington in the rankings, according to the Pew Charitable Trusts.
Both states are the only two that have ranked among the top five in personal income growth in all four quarters for the past year.
That kind of growth has been relatively stable in Idaho since the 2008 recession, clocking in at 2.1 percent. But despite that steady course, personal income here hasn’t kept up with inflation.
Earlier this year, the Idaho Department of Labor also reported the fastest wage growth in the nation. But the median full-time salary in Idaho is $33,259 a year – more than $10,000 below the U.S. median.
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