Iowa City Among Small Number of U.S. Metros with Rising Personal Income

By Dave DeWitte, Reporter

University of Iowa sophomores Madi Cummings of Ames (from left), Helen Saggau of Des Moines, and Abby Sojka of Muscatine look at sale items on display in front of Catherine's Tuesday, Aug. 18, 2009 along South Dubuque Street in downtown Iowa City. (Brian Ray)

Tools

By Becky Ogann

IOWA CITY, Iowa - Iowa City was one of only 134 United States metropolitan areas in which personal income grew last year, according to new data released Monday, August 9.

Personal income in the Iowa City Metropolitan Statistical Area climbed by 1.2 percent in 2009 to $5.78 billion after rising by 5.1 percent the preceding year.

On average, personal income declined 1.8 percent nationwide in 2009, after rising 2.7 percent in 2009.

The Cedar Rapids Metropolitan Statistical Area was in the majority of 223 metros in which personal income declined, although the decline was lower than the national average.

Personal income in the Cedar Rapids Metropolitan Statistical Area fell by 0.7 percent in 2009, to $9.83 billion, after rising by 5 percent the preceding year.

The data was released by the Bureau of Economic Analysis, which defines personal income as “income by all personals from all sources.”

The bureau also released per capita personal income figures for all of the metropolitan statistical areas.

Per capita personal income is the personal income of residents of a given area divided by the resident population of the area.

Per capita personal income fell by 0.8 percent in Iowa City and by 1.2 percent in Cedar Rapids in 2009.

Per capita personal income in Iowa City for 2009 was $37,985, ranking 108th nationally among metros.

In Cedar Rapids, per capital personal Income for 2009 was $38,345, ranking 92nd nationally.

The report said most of the metros with rising personal income in 2009 had a gain because of an increase in transfer payments, such as unemployment insurance, Social Security or retirement benefits.

Net earnings of workers only increased in 57 metros, with most of the gains concentrated in the government employment sector.

Only five metros in the entire country had private sector earnings growth account for most of their earnings growth in 2009. Only one of them, Cape Girardeau, Mo., is in the Midwest.

The biggest decline in per capital personal income was 8.4 percent in Midland, Texas. The greatest increase was 12 percent in Jacksonville, N.C.

Conversation Guidelines

Be Kind

Don't use abusive, offensive, threatening, racist, vulgar or sexually-oriented language.
Don't attack someone personally. Keep it civil and be responsible.

Share Knowledge

Be truthful. Share what you know and what you are passionate about.
What more do you want to learn? Keep it simple.

Stay focused

Promote lively and healthy debate. Stay on topic. Ask questions and give feedback on the story's topic.

Report Trouble

Help us maintain a quality comment section by reporting comments that are offensive. If you see a comment that is offensive, or you feel violates our guidelines, simply click on the "x" to the far right of the comment to report it.


read the full guidelines here »

Commenting will be disabled on stories dealing with the following subject matter: Crime, sexual abuse, property fires, automobile accidents, Amber Alerts, Operation Quickfinds and suicides.

facebook twitter rss mobile google plus
email alerts you tube hooplanow pinterest instagram

What's On KCRG