Business and Economy NewsTracker

Personal Income Rises 3.8 Percent in TN

Personal income in Tennessee rose 3.8 percent last year compared to 2009, putting the Volunteer State ahead of the nation, which saw incomes rise on average 3.0 percent.

Personal income, which includes earnings as well as other sources like dividends and interest, grew in Tennessee from $215.8 billion in 2009 to $224 billion last year, according to new statistics release by the Bureau of Economic Analysis.

The figures point to a continuing economic recovery, though the positive news was not shared by all industries. The construction and real estate industries continued to decline nationally, the Bureau reported, while health care grew through the recession and outpaced manufacturing to become the largest private industry in 2009. Health care represented 11.2 percent of earnings last year.

In Tennessee, health care and social services constituted $23.2 billion in earnings last year, compared to $21.6 billion from manufacturing and $24.9 billion in government.