Nevadans have greatest decline in personal income
By Sean Collins Walsh, Reno Gazette-Journal
Foreclosures, unemployment and as of Monday, personal income growth.
Another economic indicator shows Nevada was hit harder by the nationwide recession than any other state: Silver State residents saw the greatest rate of decline in their personal incomes, 0.9 percent, from the first quarter of 2008 through the first of 2010, according to the federal Bureau of Economic Analysis.
The average Washoe County resident made about $3,000 less in total income during 2009 than he or she did in 2008.
Monday’s numbers may prove the most recent recession to be Nevada’s worst ever, said Mark Pingle, an economist at the University of Nevada, Reno.