Minnesotans' income grew last yearby William Wilcoxen, Minnesota Public Radio
St. Paul, Minn. — New Commerce Department numbers show a key measure of prosperity grew slightly more in Minnesota than the national average last year.
Nationally, income per resident grew slightly less than 4 percent. In Minnesota, it was just over 4 percent. Inflation, meanwhile, ran at 3.3 percent.
In recent years Minnesota's income growth had lagged behind the national average. Art Rolnick of the Federal Reserve Board of Minneapolis says the 2008 numbers should alleviate concerns that Minnesota's place in the U.S. economy was slipping...
"We've still got a very, very well educated workforce, very productive< said Rolnick. "I don't want to put too much weight on one particular number, but I do think it suggests that Minnesota -- relatively speaking -- still has a strong economy."
Rolnick says agriculture and medical services were among the state's strongest sectors. Minnesota moved from 12th to 10th among the states in personal income per resident.