DENVER-
Colorado slipped in U.S. rankings for per capita personal income last year but was still in the top 10, according to statistics released by the federal government.
Per capita personal income in Colorado last year rose to $39,186, making the state No. 8, according to preliminary data released Tuesday by the U.S. Bureau of Economic Analysis.
The national average was $36,276.
Colorado was ranked No. 7 in 2005 with per capita personal income of $37,510.
The gain in Colorado was 4.5 percent, while the gain in the national average was 5.2 percent.
That outpaced 3.6 percent inflation in the Denver, Boulder and Greeley region last year.
“The reality is that our real wage gain was less than that of the nation,” said Patty Silverstein, an economist with Development Research Partners. “But wages and income levels are keeping up with inflation, and that’s what you want to see.”
Per capita personal income in Wyoming, which is enjoying a boom in mining, topped that of Colorado in 2006 at $40,676. That ranked Wyoming sixth in the U.S.
Income includes salaries and such other sources as dividends and interest.
“Tight labor markets have been forcing salaries and wages higher, and this data validates that view,” Vectra Bank Colorado economist Jeff Thredgold said. “Strong income growth nationwide is one factor that will help the economy continue to grow, despite the problems in the housing market.”
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Information from: Rocky Mountain News,
