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...instance, stands at $31,150. This mark places Indiana thirty-fourth among all states and is only 90 percent of the U.S. PCPI of $34,495.
What does figure like this actually mean though? What does it tell us about how Hoosiers earn their income or how much is actually available to them to be spent? The Bureau of Economic Analysis, which calculates these statistics, offers several ways to deconstruct personal income and view its component parts.
Components of Personal Income
The BEA uses three components to determine personal income: employment earnings, transfer payments (government payments made to individuals), and investment income (dividends, interest, and rent). Figure 1 shows that the component shares of Indiana's PCPI are nearly identical to those of the United States. In each case, earnings account for around 69 percent of all...
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