Latest Metropolitan Personal Income Estimates Show Recession Severity

By Marshall J. Vest
Forecasting Project Director

On August 9, 2010, the U.S. Bureau of Economic Analysis released annual estimates of personal income for metropolitan areas for the year 2009.  Prior year estimates remained unchanged, see Table 1. 

The 2009 estimates of personal income reflect the severity of the recession.  Of Arizona’s six metro areas, only two metros (Flagstaff and Yuma) registered growth, but only two fared worse than national averages.  In the Phoenix and Prescott metro areas, total dollar personal income declined by 3.5% and 3.4%, respectively during 2009. 

In per capita terms, incomes are still highest in metro Phoenix, followed closely by Flagstaff.  Of the nation’s 366 metro areas, Phoenix and Flagstaff fall into the low-third quintile, Tucson into the high-fourth quintile, while Prescott, Yuma, and Lake Havasu City-Kingman rank near the bottom.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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For additional information, please contact the Economic and Business Research Center.