| Personal Income Data
Per Capita Personal Income by State, 2004
The Maine per capita personal income ranked 30th of all US States. Maine's labor costs are competitive compared to neighboring states in New England.
| Maine |
$30,566 |
| Vermont |
$32,770 |
| New Hampshire |
$37,040 |
| Rhode Island |
$37,733 |
| Massachusetts |
$41,801 |
| Connecticut |
$45,398 |
| U.S. |
$32,937 |
(Source: "2004 Per Capita Personal Income"; April, '05; Maine Department of Labor)
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Average Annual Wages, 2003 (to be updated for 2004 in 7/05)
Wages in Piscataquis County regularly rank among the lowest of Maine's sixteen counties. Below are the latest county wage comparisons.
| Sagadahoc |
$34,880 |
| Cumberland |
$34,536 |
| Kennebec |
$30,651 |
| York |
$30,235 |
| Androscoggin |
$39.551 |
| Penobscot |
$28,918 |
| Somerset Franklin |
$28,649 |
| Knox |
$28,404 |
| Hancock |
$27,682 |
| Oxford |
$26,533 |
| Waldo |
$26.233 |
| Arookstook |
$25,485 |
| Lincoln |
$25,316 |
| Washington |
$24,577 |
| Piscataquis |
$23,205 |
(Source: "Average Annual Wages by County in 2003"; July, '04; Maine Department of Labor)
Bureau of Economic Analysis Data
Below is a personal income analysis for Piscataquis County prepared by the Bureau of Economic Analysis (BEA). The BEA compiles economic data for the federal government and is an agency within the Department of Commerce.
Per Capita Personal Income
In 2003 Piscataquis had a per capita personal income (PCPI) of $23,392. This PCPI ranked 16th in the state and was 80 percent of the state average, $29,164, and 74 percent of the national average, $31,472. The 2003 PCPI reflected an increase of 2.7 percent from 2002. The 2002-2003 state change was 3.5 percent and the national change was 2.2 percent. In 1993 the PCPI of Piscataquis was $14,625 and ranked 16th in the state. The 1993-2003 average annual growth rate of PCPI was 4.8 percent. The average annual growth rate for the state was 4.6 percent and for the nation was 4.0 percent.
Total Personal Income
In 2003 Piscataquis had a total personal income (TPI) of $408,282. This TPI ranked 16th in the state and accounted for 1.1 percent of the state total. In 1993 the TPI of Piscataquis was $268,923 and ranked 16th in the state. The 2003 TPI reflected an increase of 3.8 percent from 2002. The 2002-2003 state change was 4.4 percent and the national change was 3.2 percent. The 1993-2003 average annual growth rate of TPI was 4.3 percent. The average annual growth rate for the state was 5.1 percent and for the nation was 5.1 percent.
Components of Total Personal Income
Total personal income includes net earnings by place of residence; dividends, interest, and rent; and personal current transfer receipts received by the residents of Piscataquis. In 2003 net earnings accounted for 56.4 percent of TPI (compared with 58.4 in 1993); dividends, interest, and rent were 16.0 percent (compared with 16.9 in 1993); and personal current transfer receipts were 27.6 percent (compared with 24.7 in 1993). From 2002 to 2003 net earnings increased 3.0 percent; dividends, interest, and rent decreased 1.2 percent; and personal current transfer receipts increased 8.7 percent. From 1993 to 2003 net earnings increased on average 3.9 percent each year; dividends, interest, and rent increased on average 3.7 percent; and personal current transfer receipts increased on average 5.4 percent.
Earnings by Place of Work
Earnings of persons employed in Piscataquis increased from $222,692 in 2002 to $229,462 in 2003, an increase of 3.0 percent. The 2002-2003 state change was 4.6 percent and the national change was 4.1 percent. The average annual growth rate from the 1993 estimate of $164,963 to the 2003 estimate was 3.4 percent. The average annual growth rate for the state was 4.8 percent and for the nation was 5.3 percent.
Note: All income estimates with the exception of PCPI are in thousands of dollars, not adjusted for inflation.
To access the BEA website page displaying this information, click here.
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