South Dakota personal income increased by 1.7 percent, making South Dakota 47th in the nation for growth, according to estimates released today by the U.S. Bureau of Economic Analysis. Nationwide, the average state personal income growth grew to 3.9 percent in 2014, up from 2.0 percent in 2013. The average per capita personal income in South Dakota was $46,345 in 2014, putting the state 21st in the U.S. rankings.
The estimates also show a trend of farm earnings declines which have contributed to relatively slow personal income growth in South Dakota, Illinois, Indiana, Iowa, Kansas, Mississippi, and Missouri.
Additionally, South Dakota was ranked last in growth of property income (dividends, interest, and rent) with only a 2.5 percent increase from 2013 to 2014.
To read more about these estimates, view the full report here.