North Dakota, Oklahoma, and Texas best for earnings
Energy sector earnings topped $16 million in Oklahoma during the third quarter of 2014, up from about $7 million in the second quarter of 2009, which economists mark as the end of the Great Recession, according to Bureau of Economic Analysis data.
Oklahoma has seen more than a 128 percent increase in energy sector earnings since the end of the Great Recession. The bureau charts personal income growth by tracking net earnings by place of residence, property income, and personal current transfer receipts.
Over the 12-month period ending in November, Oklahoma added 2,500 new energy sector jobs, a 4.2 percent increase, according to data from the Oklahoma Employment Security Commission released Friday.
For the third quarter of 2014, Oklahoma ranked No. 10 in the nation for personal income growth, at a rate of 1.1 percent.
Texas had the highest growth rate for personal income for the third quarter of the year, at 1.4 percent.
Across the nation, state personal income growth averaged 1 percent in the third quarter of 2014, down from 1.2 percent in the second quarter, according to estimates released Friday by the Commerce Department. ■