Pay Cut for Many
Tulsa, OK – Oklahoma personal income declines in Q1
TULSA, Okla. (AP) Oklahoma's personal income posted a 0.1 decline from the fourth quarter of 2008 to the first quarter of this year, but that figure was still better than most states.
Estimates released Thursday by the U.S. Bureau of Economic Analysis showed that Oklahoma has not been as hard-hit as states like Florida, Nevada and Arizona, where the housing bust continued to take a toll on those economies.
Personal income, defined as the total income received by all persons from all sources, including salary, topped $135 billion in Oklahoma in the first quarter, which lasted through March.
Nationally, personal income continued to decline in the first quarter, falling 0.5 percent.
Copyright 2009 The Associated Press.