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Farm, construction income push quarterly income gains in Oklahoma

Personal income in Oklahoma grew faster than the national average in the third quarter, the federal Bureau of Economic Analysis said Wednesday.

By Paul Monies | Published: December 20, 2012 Comment on this article

“Mining earnings (including oil and gas earnings) fell in most states, including major energy producers such as Texas, Oklahoma, Louisiana, Wyoming, Alaska and West Virginia,” the report said. “North Dakota, however, continued to expand and mining earnings grew 1.6 percent in that state in the third quarter.”

Oklahoma's personal income was $143.8 billion in the third quarter of 2011, the bureau said. It grew at a quarterly rate of 1 percent in the fourth quarter of 2011 and the first quarter of 2012 before slowing to 0.7 percent growth in the second quarter of 2012.

The bureau calculates personal income by including income from all sources. It includes wages, rental payments, interest, dividends and government transfers such as Social Security and unemployment compensation.

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