Honolulu personal income up 2.4% in 2010
Honolulu residents saw their incomes rebound last year but the size of the gain was in the bottom third of metropolitan areas nationwide, a federal agency reported today.
Personal incomes in Honolulu rose by an average 2.4 percent in 2010 from 2009, the Bureau of Economic Analysis reported. That was up from a 0.3 percent increase in 2009 from 2008.
The 2010 rise ranked Honolulu 259th out of 366 metro areas surveyed by the BEA.
The personal income data reported by the agency are not adjusted for inflation. After adjusting for Honolulu’s 1.7 percent inflation rate last year personal income rose by 0.7 percent.
Personal income totaled $42.28 billion in 2010, up $991 million from 2009. Net earnings, which consist of wages and salaries excluding payments for Social Security and other government programs, rose by $491 miliion, or 1.7 percent. Transfer receipts, which include government payments, rose by $406 milion, or 7.3 percent.