Personal income in Washington state rose 4.5 percent in 2012, the fourth highest increase among U.S. states, according to a new federal report.
Much of Washington's increase came in the form of net earnings, followed by dividends and rental income. Transfer receipt income, which includes income from the government such as social security and unemployment benefits, was about the same as 2011, according to data from the U.S. Bureau of Economic Analysis.
As defined by the BEA, personal income is income received by all people from all sources.
Nationally, personal income rose 3.5 percent in 2012, slower than the 5.2 percent increase in 2011.
State personal income growth ranged from a 0.2 percent decline in South Dakota to a 12.4 percent rise in North Dakota. According to the report, South Dakota's decline was partially due to the impact of last year's drought on farm income.
North Dakota had the fastest personal income growth of all states for the fifth time in six years. In 2012, mining and construction income accounted for 43 percent of private nonfarm income growth in the state. Mining includes oil and gas extraction, which has grown significantly in recent years.
Inflation, as measured by the national price index, rose 1.8 percent in 2012.
Washington's per capita personal income in 2012 was $45,413, which ranked 12th highest in the U.S. and 106 percent of the national average.