Dakotas are opposite in personal income increase
SIOUX FALLS (AP) -- Oil-rich North Dakota and drought-stricken South Dakota are at opposite ends of the rankings when it comes to personal income last year.
New numbers from the Bureau of Economic Analysis show that North Dakota had a 12.4 percent over-the-year increase in personal income in 2012, tops in the nation. South Dakota ranked 50th with a 0.2 percent decrease.
Personal income includes all income received by all state residents from all sources, including property income, earnings and dividends.
Economists tell the media that an uptick in personal income in South Dakota in the fourth quarter of last year due to crop insurance payments helped keep the overall decrease in the state to a minimum.