Pay drops for Colorado workers
The Denver Post
Coloradans made $1,677 less per person last year than they did in 2008, according to a report Thursday from the U.S. Bureau of Economic Analysis.
Personal incomes fell to $207.7 billion in Colorado last year, down from $212.3 billion in 2008.
Wages, rents, dividends, self-employment income and government payments are the major components of personal income.
On a per capita basis, which accounts for population growth, average incomes fell from $43,021 in 2008 to $41,344 in 2009, a decline of 3.9 percent.
That decline pushed down Colorado’s per capita ranking among states, not including the District of Columbia, in a significant way – from 11th to 15th.
In 2000, Colorado ranked 7th among states on the measure, and didn’t lose its top 10 ranking until 2008.
With consumers accounting for about 70 percent of economic activity in the U.S., personal incomes are an important indicator of their ability to spend.