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SMALL BUSINESS
Personal income drops in Louisiana
AP
NEW ORLEANS -Personal income in Louisiana dropped 0.6 percent during the first quarter of 2009 as compared with the last three months of 2008.
That's according to the federal Bureau of Economic Analysis. Personal income is the income received by all residents from all sources, including pay, investment interest and government payments.
The loss follows a gain of just under 1 percent from the third quarter to the fourth quarter of 2008.
Louisiana was among 37 states that recorded first-quarter drops in personal income. Nationally, personal income fell 0.5 percent during the latest quarter.
The Bureau of Economic Analysis says the overall loss was due to lost jobs, lower interest rates and smaller corporate dividend payments.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-06-18 12:07:12
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