Real per capita personal income is an approximate measure of the average compensation per person. Personal income includes: wages and salaries; employer contributions to pensions and insurance; proprietors' income; dividends, interest, and rent; and personal current transfer receipts (e.g., Medicare and Medicaid). This data is based on the county where a population lives, but since some data are collected by workplace (which may be in another county), there is a further adjustment to account for residence using commuting data from the Census Bureau. The income values are adjusted for inflation. Real per capita personal income growth supports a regional economy through additional money spent on consumer goods and services, which in turn supports local businesses and jobs.
Real per capita personal income declined in 2022 by $2,957, or 4.6%. The decline is largely attributed to the ending of economic impact payments from the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Consolidated Appropriations Act, and the American Rescue Plan Act (ARPA) . Since 2019, real per capita personal income rose by $3,310 for a total growth rate of 5.6%, or 1.9% annually.
BEA Local Area Personal Income (LAPI).[Table code: CAINC4]