The Latest News on Indiana Personal Income

Indiana's per capita personal income (PCPI) increased by 2.6 percent between 2001 and 2002, ranking 23rd among the 50 states and the District of Columbia. Only one of our neighboring states surpassed Indiana with a higher percent change—Kentucky, at a one year rate of change of 2.8 percent.

Table 1

Figure 1

Figure 2

Such gains could be attributable to increases in jobs, but also due to slowing population growth. For example, North Dakota ranks first in percent change in per capita income, but also had a population loss of more than 2,400 people during the same time period. Conversely, Nevada's PCPI growth was low, but it had the nation's fastest rate of population growth at 3.6 percent between 2001 and 2002.

Figure 3

Indiana's per capita income continues to be lower than the national average, but has increased slightly.

Carol O. Rogers
Associate Director, Indiana Business Research Center, Kelley School of Business, Indiana University