Business

Charlotte income growth slows

Charlotte-area residents still made more money, on average, than their counterparts in other Carolinas cities last year.

But the region's per capita personal income slipped in the national rankings, and income growth was among the worst in the nation, according to federal estimates released today.

The Bureau of Economic Analysis defines personal income as all work income, plus any rental income, personal dividend income, personal interest income and personal current transfer receipts. Personal income is measured before the deduction of income taxes and other taxes.

Charlotte had a per capita personal income of $39,004 in 2007, placing it 69th of 363 metropolitan statistical areas, ahead of Durham (73rd) and Raleigh-Cary (76th).

That's down from 55th in 2006. In addition, Charlotte saw only a 2.2 percent increase in per capita income from 2006 to 2007, placing it 349th on the list of 363 MSAs. Among Carolinas regions, only Myrtle Beach saw slower growth at 1.3 percent.

Read more about this story in Friday's Observer.

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