Minnesota - Income

According to the Bureau of Economic Analysis, in 2001, Minnesota had a per capita personal income (PCPI) of $33,059 which ranked 9th in the United States (including the District of Columbia) and was 109% of the national average, $30,413. The 2001 PCPI reflected an increase of 2.6% from 2000 compared to the national change of 2.2%. In 2001, Minnesota had a total personal income (TPI) of $164,784,335,000 which ranked 17th in the United States and accounted for 1.9% of the national total. The 2001 TPI reflected an increase of 3.6% from 2000 compared to the national change of 3.3%.

Earnings of persons employed in Minnesota increased from $117,378,224,000 in 2000 to $120,934,233,000 in 2001, an increase of 3.0%. The largest industries in 2001 were services, 27.6% of earnings; state and local government, 11.3%; and durable goods manufacturing, 10.8%. Of the industries that accounted for at least 5% of earnings in 2001, the slowest growing from 2000 to 2001 was durable goods manufacturing, which decreased 4.1%; the fastest was finance, insurance, and real estate (9.8% of earnings in 2001), which increased 9.5%.

According to data released by the US Census Bureau, in 2000, the median household income was $50,865 compared to the national average of $42,148. In 2001, the median income for a family of four was $72,635 compared to the national average of $63,278. For the period 1999 to 2001, the average poverty rate was 6.8% which placed it 2nd among the 50 states and the District of Columbia ranked lowest to highest.

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