Whatcom personal income rose 3.2 percent in 2014

Personal income was on the rise last year for Whatcom residents, but at a slower rate than most of the other counties in the state.

The per capita personal income average in Whatcom County was $40,840 in 2014, a 3.2 percent increase compared to the previous year, according to a new report from the U.S. Bureau of Economic Analysis.

That per capita total ranks 16th highest out of Washington’s 39 counties, but the 3.2 percent increase ranked 30th highest among Washington counties.

Personal income is money received by all persons from all sources, so along with wages it would include income from social security checks, stock dividends and rental income, for example. In the U.S., per capita income rose 3.6 percent to $46,049.

One thing to remember is that this data is for 2014, which was a period of job growth, said Hart Hodges, director at Western Washington University’s Center for Economic and Business Research. It may have a different look in 2016 given the 120 living-wage jobs lost from the impending closure of the CH2M Hill office and the potential loss of 465 high-paying jobs at Alcoa’s Intalco Works near Ferndale.

Hodges said that since the Whatcom average is below the U.S. average, he would like to see growth a little faster, if only because Whatcom is starting from a lower base.

“Lagging a little makes me ask, why? What is happening here that results in lower growth?” Hodges said.

Across the state, the average increase was 4.5 percent for a per capita income of $49,610.

In Skagit County the income average was $42,829 in 2014, up 4.5 percent. King County had the highest per capita income, at $68,877.

This story was originally published November 19, 2015 at 3:08 PM with the headline "Whatcom personal income rose 3.2 percent in 2014."