Florida's personal income growth largest in nation

Personal income increased in Florida at the largest rate of all 50 states in the first quarter, according to estimates released Monday by the U.S. Bureau of Economic Analysis.

The bureau's measure of personal income includes seasonally adjusted wages, dividends, interest, and government benefits. In Florida, personal income grew 1.3 percent from January through March compared to 0.9 percent nationally, the federal agency estimated.

Just over half of Florida's growth in personal income - 0.7 percent - came from rising wages, bureau spokesman Thomas Dail said. Wage growth was strongest in the health care and social service sector, followed by the professional, scientific, and technical services sector. Construction and retail rounded out the top four performing wage sectors, according to data from the bureau.

Florida also had a 0.4 percent rise in government benefits, including Social Security, Medicare, Medicaid and unemployment, he said. The annual Social Security benefit increase - 1.7 percent this year - took effect in January, Dail noted.

This was the second-straight year that Florida outpaced the nation in first-quarter personal income growth. In 2014, Florida bested the national average 1.3 percent to 1.2 percent.

This year, Florida led 45 other states in personal income growth, followed by Kentucky and Utah which saw 1.2 percent hikes.

Personal income declined in four states. Iowa had the steepest decline, 1.2 percent, as farm income dropped.