© 2022 Maine Public
Play Live Radio
Next Up:
Available On Air Stations

Feds: Personal Incomes Grew in Maine in Fourth Quater

Mainers' incomes rose 1.1 percent in the first quarter of this year, according to new figures from the Bureau of Economic Analysis.  The increase marked a reversal from the fourth quarter of last year, when personal incomes in Maine fell overall. 

This time, the state registered the 20th best performance in the country, growing slightly faster than the nation as a whole, which saw an increase of 1 percent. 

Maine's performance was driven largely by what are called government transfer payments. In this case, the Bureau of Economic Analysis says there was an increase in refundable tax credits, which boosted personal income figures in many states.

Among economic sectors, the biggest contributor to Maine residents' income gains was construction, followed by health care. 

New Hampshire also saw a 1.1 percent increase in personal income in the first quarter.