Personal income across Louisiana grew by 4.3% during second quarter this year compared to the same time last year, according to U.S. Bureau of Economic Analysis data.
The national average of personal income growth was 4.94% during the same time period. Personal income refers to all wages generated by individuals and their investments or Social Security benefits.
Louisianians added $9.4 billion in earnings between second quarter 2018 and second quarter this year, for a total of $224 billion.
In some ways, Louisiana tracked national trends by industry, such as a decline in farm earnings and growth in oil and gas extraction. The state bucked national trends for construction industry earnings growth.
Louisiana earnings from jobs on farms declined by $155 million, or 24%, over the past year through the second quarter to $478 million total. Construction industry earnings fell by $235 million to $13.9 billion total, while entertainment earnings declined by $111 million to $1.4 billion.
The biggest gains were for mining, which includes oil and gas extraction jobs, up $760 million, or 11.3%, to $7.4 billion across the state. Information earnings grew by $11 million to $1.7 billion; educational services, by $14 million to $2.1 billion; professional, scientific and technical services, by $624 million to $11 billion; finance and insurance, by $328 million to $6 billion; transportation and warehousing, by $408 million to $7 billion; retail trade, by $80 million to $9.2 billion; wholesale trade, by $323 million to $6.3 billion; and forestry, fishing and related industries, by $35 million to $637 million total.
In the manufacturing sector, nondurable goods earnings grew by 7% and added $598 million to $9.1 billion, while durable goods increased by $254 million, or 4.9%, to $5.4 billion.