Personal Income Growth for Louisiana Workers Among Highest in the Country
Personal income figures in Louisiana are among the highest in the country, coming in behind only Texas. These are results from a recent study by the U.S. Bureau of Economic Analysis (BEA).
The report shows Louisiana had the second highest personal income growth (5.9 percent) in the country from the first to second quarter.
"The increase in personal income reflects that Louisiana's economic growth is hitting workers' wallets. Greater personal incomes benefit working families and further strengthens communities," said Secretary Ava Dejoie with the Louisiana Workforce Commission (LWC).
The report further states that personal income in Louisiana went up by $2.99 billion from the first to second quarter. The majority of that growth, $1.97 billion, was driven by net earnings.
The top five industries contributing to the growth are:
- Construction: $401 million in total growth
- Professional, scientific, and technical services: $284 million in total growth
- Healthcare and social assistance: $270 million in total growth
- Manufacturing: $259 million in total growth
- Mining, quarrying, and oil and gas extraction: $231 million in total growth