Georgia down to 40th in per capita income - FOX 10 News | myfoxphoenix.com

Georgia down to 40th in per capita income

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ATLANTA (AP) - Georgia has dropped toward the bottom of states in per capita income.

Federal data shows Georgia is now 40th among the states. Georgia has been declining since measuring 25th in 2001. The Atlanta Journal-Constitution reports that Georgia now has the same ranking it did in 1979.

The actual income figure for Georgia grew to $36,869 last year. But the national figure grew faster to $42,693 and that lowered Georgia's standing among the states.

Economist Martin Shields of the Economic Institute at Colorado State University said Georgia is adding jobs, but they are lower-paying jobs.

Experts said Georgia enjoyed above average growth in per capita income from 1779 to 2001 due to new businesses flocking to the state, but then Georgia was hit hard by the recession and housing bubble.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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