Personal Income A solid economy can be characterized by the quality of life enjoyed by the large majority of a state's citizens. Those individuals with more personal income that keeps up with inflation will have more to spend as they see fit and have a higher quality of life. Why Is This Important? The economic health and well-being of the state is essential to its continued growth. Florida's economy continues to expand, though at a slower growth rate than experienced in recent years. The mix of jobs, wages, income growth, tax burden, home prices and other major indicators all play an important role in ensuring sustainable growth. The associated higher wages and income lead to stronger levels of buying power among residents and stimulate the economy. Personal income includes wages, salaries, interest, dividends and rental income. It is a major indicator of the improvement or health of an economy and can be used to compare Florida with other states. How Is Florida Doing? The effects of the worldwide recession continued to hit Floridians in their pocket books. While indicators began to show improvements late in 2009, Florida's per capita personal income reflected a slight decrease during the calendar year. During 2009, the average fell about $1,300 or 3.29 percent. Scorecard Per Capita Personal Income in Dollars Growth of Per Capita Personal Income (percent) What Influences Personal Income? Personal income is normally influenced by educational attainment and economic opportunity. A competitive job market, business health, and population growth are key indicators of a healthy economy leading to higher personal income. What Is the State's Role? In general, the state's role is to ensure that the state has an environment that will foster growth while providing an essential array of services to its citizens. Income through wages and salaries are largely dependant upon the state and local economy. The state can aggressively seek new businesses with high-paying jobs to come to the state, support new business start-ups or expansion and foster an education system that will better prepare graduates for jobs with high potential for growth. For More Information Contact:   Florida Legislature, Office of Economic and Demographic Research at (850) 487-1402 On the Web:   http://www.edr.state.fl.us