FORT WAYNE, Ind. (WOWO): Fort Wayne is trailing the rest of the state when it comes to income growth.
The Bureau of Economic Analysis said this week that nationally, personal earning power is up about 1.1% as of 2016, but it’s up 2.5% in Indiana.
The “real state personal income” number is based on a household’s income measured against other effects on purchasing power… so if you earn 2% more but inflation amounts to 1%, your “real income increase” would be 1%.
In Fort Wayne, that number grew by 1.8% over a year. It’s still higher than the national average, but it’s dwarfed by Lafayette at 4.8%, Muncie at 4.5%, and even Indianapolis at 2.9%.
Find the full study here.