Last year inflation rose faster than wages in Michigan, according to a new report by the U.S. Bureau of Economic Analysis.
Michigan’s per capita personal income rose by 2.5 percent between 2007 and 2008 at the same time national inflation was 3.3 percent. Michigan was in the bottom quintile of personal income growth states, which included Ohio, Idaho, Nevada, Arizona, Connecticut, New Hampshire, Florida and Georgia.
Per capita personal income in Michigan was $35,300 in 2008, up from $34,423 in 2007. This puts Michigan at 34th in personal income growth among the states.
Twelve other states experienced per capita income growth below the rate of inflation, due in large part to large declines in employment in 2008.
Read the full report and data here (PDF).
(Justin Miller is a political journalist based in Wayne County who has worked for Real Clear Politics, blogged for The Atlantic and covered the 2008 elections in Ohio for The New York Observer’s Politicker.com network of state politics news sites.)