South Florida incomes up 5.6% in 2007
Posted on Thu, Aug. 07, 2008
BY SCOTT ANDRON
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South Florida per capita income rose 5.6 percent last year. Did yours?
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Per-capita income rose 5.6 percent in South Florida last year, according to figures released by the Commerce Department on Thursday.
South Florida per capita income ranked 37th in the nation last year, making it one of the highest. It was $43,001 in 2007, $40,737 in 2006 and $38,342 in 2005, according to the Commerce Department.
The growth was down from 6.2 percent in 2006, however, according to the department's Bureau of Economic Analysis.
Inflation would have eaten up most of the gains for both years. The inflation rate here was 4.2 percent in 2007 and 4.9 percent in 2006, according to the Bureau of Labor Statistics.
And data from other sources suggest that income growth in recent years has been largest for the wealthiest Americans and smallest -- or negative -- for those at the bottom.
Per capita income is figured by adding up all income earned in a given area divided by the population.
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