Massachusetts - Income

According to the Bureau of Economic Analysis, in 2001, Massachusetts had a per capita personal income (PCPI) of $38,864 which ranked 3rd in the United States (including the District of Columbia) and was 128% of the national average, $30,413. The 2001 PCPI reflected an increase of 2.2% from 2000 compared to the national change of 2.2%. In 2001, Massachusetts had a total personal income (TPI) of $248,777,745,000 which ranked 10th in the United States and accounted for 2.9% of the national total. The 2001 TPI reflected an increase of 2.8% from 2000 compared to the national change of 3.3%.

Earnings of persons employed in Massachusetts increased from $184,521,088,000 in 2000 to $187,753,932,000 in 2001, an increase of 1.8%. The largest industries in 2001 were services, 36.4% of earnings; finance, insurance, and real estate, 12.4%; and durable goods manufacturing, 9.7%. Of the industries that accounted for at least 5% of earnings in 2001, the slowest growing from 2000 to 2001 was wholesale trade (6.1% of earnings in 2001), which decreased 8.9%; the fastest was construction (5.7% of earnings in 2001), which increased 9.9%.

According to data released by the US Census Bureau, in 2000, the median household income was $46,947 compared to the national average of $42,148. In 2001, the median income for a family of four was $80,247 compared to the national average of $63,278. For the period 1999 to 2001, the average poverty rate was 10.2% which placed it 23rd among the 50 states and the District of Columbia ranked lowest to highest.