Kentucky is one of the 51 states in the United States. (The District of
Columbia is included for ranking purposes.) Its 1994 population of 3,826,800
ranked 24th in the nation.
PER CAPITA PERSONAL INCOME
In 1994, Kentucky had a per capita personal income (PCPI) of $17,721. This
PCPI ranked 43rd in the United States and was 81.7 percent of the national
average, $21,696. In 1984, the PCPI of Kentucky was $10,556 and ranked 45th
in the United States. The average annual growth rate of PCPI over the past
10 years was 5.3 percent. The average annual growth rate for the nation was
5.0 percent.
TOTAL PERSONAL INCOME
In 1994, Kentucky had a total personal income (TPI) of $67,814,391*. This
TPI ranked 26th in the United States and accounted for 1.2 of the national
total. In 1984, the TPI of Kentucky was $39,013,790* and ranked 25th in the
United States. The average annual growth rate of TPI over the past 10 years
was 5.7 percent. The average annual growth rate for the nation was 6.0
percent.
COMPONENTS OF TOTAL PERSONAL INCOME
Total personal income (TPI) includes the earnings (wages and salaries, other
labor income, and proprietors' income); dividends, interest, and rent; and
transfer payments received by the residents of Kentucky. In 1994, earnings
were 66.5 percent of TPI (compared with 66.9 percent in 1984); dividends,
interest, and rent were 14.0 percent (compared with 16.0 percent in 1984);
and transfer payments were 19.5 percent (compared with 17.1 percent in
1984). From 1984 to 1994, earnings increased on average 5.6 percent each
year; dividends, interest, and rent increased on average 4.3 percent; and
transfer payments increased on average 7.1 percent.
EARNINGS BY INDUSTRY
Earnings of persons employed in Kentucky increased from $27,486,360* in 1984
to $48,479,461* in 1994, an average annual growth rate of 5.8 percent. The
largest industries in 1994 were services, 21.6 percent of earnings; durable
goods manufacturing, 13.1 percent; and state and local government, 11.8
percent. In 1984, the largest industries were services, 16.3 percent of
earnings; durable goods manufacturing, 13.9 percent; and retail trade, 10.8
percent. Of the industries that accounted for at least 5 percent of
earnings in 1994, the slowest growing from 1984 to 1994 was durable goods
manufacturing, which increased at an average annual rate of 5.2 percent;
the fastest was services, which increased at an average annual rate of 8.8
percent.
* All income estimates with the exception of PCPI are in thousands of dollars.
Regional Economic Information System
Bureau of Economic Analysis