SPECIAL REPORT
INCOME
HUDSON VALLEY
2012
MARIST COLLEGE
Dr. Christy Huebner Caridi
Bureau of Economic Research
School of Management
Poughkeepsie, New York 12601
Edited by Leslie Bates
December 2013
This report is available on the Bureau of Economic Research homepage at
http://www.marist.edu/management/bureau
The support of student research assistant
Kristen Sandberg is acknowledged and appreciated.
While every effort has been made to ensure that the information in this report is accurate, Marist College
cannot be held responsible for any remaining errors.
Year over year, total personal income (TPI)1 in the Hudson Valley increased 2.95 percent—from
$135.26 billion in 2011 to $139.25 billion in 2012—consistent with the statewide increase of 2.92 percent
but significantly below the nationwide increase of 4.17 percent. Within the region, Rockland County
witnessed the strongest year-over-year advance at 4.22 percent, followed by Dutchess County at 2.86
percent and Orange and Westchester counties at 2.77 percent each. TPI in Sullivan, Ulster and Putnam
counties advanced 2.74 percent, 2.72 percent and 2.45 percent, respectively. Statewide, the year-over-year
change in TPI ranged from a high of 4.31 percent in Chenango County (Southern Tier) to a low of -.38
percent in Jefferson County (North Country).
Earned income—net wages, salaries and benefits—is the largest component of TPI at 65.90
percent of all income and is the most important indicator of the health of the household sector. The yearover-year change in earned income at 2.42 percent fell short of both the statewide (2.90 percent) and
national (4.32 percent) increases and while there has been improvement over the most recent three-year
period, earned income growth continues to lag. The primary problem continues to be weak employment
growth. Year over year, employment by Hudson Valley residents fell 0.26 percent (2,700) compared to a
0.36 percent increase (31,900) in New York State and a 0.19 percent (139,869) increase nationwide.
Within the region, Rockland County witnessed the largest increase in earned income at 4.12 percent,
followed by Westchester County at 2.37 percent and Dutchess County at 2.06 percent.
Unearned income which includes interest, dividends and rents is the second largest component of
TPI at 20.17 percent. Compared to last year, unearned income advanced $1.22 billion (4.56 percent), rising
from $26.86 billion in 2011 to $28.09 billion in 2012, but remained $1.86 billion (6.21 percent) below the
pre-recession peak recorded in 2007. Region-wide, Sullivan County experienced the largest year-overyear increase at 5.74 percent followed by Orange and Ulster counties at 5.47 percent and 5.26 percent,
respectively. Unearned income advanced 4.80 percent in New York State and 5.52 percent nationwide.
Statewide, the average per-capita unearned income increased from $9,143 in 2011 to $9,549 in
2012 and ranged from a high of $25,922 in New York County to a low of $3,675 in Bronx County (rank
62nd). Region-wide, per-capita unearned income advanced at a lesser pace (4.36 percent), increasing
from $11,653 to $12,161. Overall, Westchester County secured the highest rank (2nd) followed by
Rockland (8th) and Putnam (10th); Sullivan and Orange counties secured the lowest ranks at 24th and
31st, respectively.
Transfer payments accounted for 13.93 percent of TPI and include but are not limited to: old-age,
survivors’ and disability insurance benefits (Social Security); Medicare benefits; Medicaid benefits;
income maintenance benefits (principally temporary assistance, safety net assistance and food stamps);
state unemployment insurance compensation; veterans’ benefits; and federal training and educational
assistance.
1
Total personal income is the sum of net wages, salaries and benefits, income on real and financial assets and transfer payments. It is the most
inclusive definition of regional income.
Year over year, transfer payments continued to advance, posting a 3.16 percent ($594.00 million)
year-over-year increase compared to a 1.11 percent ($2.00 billion) increase in New York State and a 2.23
percent ($51.35 billion) increase nationwide. Overall, since the onset of the Great Recession, transfer
payments have grown at an annualized rate of 5.97 percent region-wide, 5.07 percent statewide and 6.48
percent nationwide. Over the three-year period ending in 2012, the rate of growth fell to 3.37 percent in
the Hudson Valley, 2.29 percent in New York State and 3.25 percent nationwide.
Region-wide, per-capita transfer payments advanced 2.96 percent from $8,155 in 2011 to $8,396
in 20122. Within the region, Sullivan County recorded the highest per-capita transfer payments at
$10,420, followed by Ulster and Rockland counties at $8,995 and $8,737, respectively. Consistent with
trend, Putnam County recorded the lowest per-capita transfer payments at $6,990. Statewide, per-capita
transfer payments ranged from a high of $11,167 in Richmond County—Staten Island—to a low of
$5,866 in Tompkins County (Southern Tier).
Year over year, per-capita TPI in the Hudson Valley advanced 2.75 percent from $58,679 in 2011
to $60,296 in 2012. This increase is explained by a 2.95 percent increase in TPI coupled with a .19
percent decrease in population. Over the same one-year period, per-capita TPI in New York State and the
U.S. advanced 3.40 percent and 2.56 percent, respectively. Within the region, per-capita earned income in
Westchester ($77,153), Putnam ($57,431) and Rockland ($56,230) counties exceeded the per-capita
earned income in both the U.S. ($43,735) and New York State ($53,241). Per-capita TPI in Dutchess
County ($48,643) was above the national per-capita level, but fell short compared to the statewide
average. Per-capita TPI incomes in Orange ($43,005), Ulster ($42,937) and Sullivan ($40,258) counties
were below both the national and statewide levels. Statewide, per-capital TPI ranged from a high of
$119,347 in New York County (Manhattan) to a low of $30,368 in Allegany County. All counties in the
region ranked in the top 50 percent statewide with Westchester County securing the second highest rank
behind New York County. Four counties ranked in the top ten: Westchester (2), Putnam (4), Rockland (5)
and Dutchess (10). The remaining three counties, Orange, Ulster and Sullivan, ranked 21, 22 and 26,
respectively.
2
This increase is explained by the 3.16 percent increase in payments in tandem with a year-over-year population decrease
(-0.19 percent).
Year over year, total personal income (TPI)1 in the Hudson Valley advanced $3.99 billion (2.95
percent) from $135.26 billion in 20112 to $139.25 billion in 2012.The year-over-year change in TPI is
explained by a $2.17 billion (2.42 percent) increase in net wages, salaries and benefits—earned income—a
$1.22 billion (4.56 percent) increase in interest, dividends and rents—unearned income—and a $594.00
million (3.16 percent) increase in transfer payments. Over the same period, TPI in New York State
advanced 2.92 percent and ranged from a high of 4.31 percent in Chenango County located in the Southern
Tier to a low of -.38 percent in Jefferson County (North Country). Nationwide, TPI advanced 4.17 percent.
Since the onset of the Great Recession (December 2007), TPI in the Hudson Valley has grown at
an annualized rate of 1.39 percent compared to 2.43 percent in New York State and 2.75 percent
nationwide. Over the three-year period ending in 20123, TPI grew 3.49 percent per annum, 4.03 percent in
New York State and 4.33 percent nationwide.
Total Personal Income: Year 2012
Data Source: U.S. Bureau of Economic Analysis, Author calculations (numbers in $1000’s)
Area
Dutchess
Net Wages,
Salaries and
Benefits
Interest,
Dividends and
Rents
Transfer
Payments
Total Personal
Income
(TPI)
Percent
Change TPI
2010–2011
Percent
Change TPI
2011-2012
$9,506,796
$2,581,844
$2,374,093
$14,462,733
5.43%
2.86%
Orange
$10,698,552
$2,493,489
$2,913,779
$16,105,820
4.45%
2.77%
Putnam
$4,081,877
$942,423
$696,232
$5,720,532
4.55%
2.45%
$11,925,908
$3,165,254
$2,776,255
$17,867,417
4.45%
4.22%
Sullivan
$1,724,897
$566,470
$800,184
$3,091,551
3.86%
2.74%
Ulster
$4,562,350
$1,608,025
$1,635,183
$7,805,558
3.66%
2.72%
Westchester
$49,272,156
$16,728,672
$8,195,364
$74,196,192
5.04%
2.77%
Hudson Valley
$91,772,536
$28,086,177
$19,391,090
$139,249,803
4.81%
2.95%
New York State
$671,582,477
$186,868,014
$183,480,051
$1,041,930,542
5.37%
2.92%
$8,875,621,000
$2,495,206,000
$2,358,236,000
$13,729,063,000
6.09%
4.17%
Rockland
United States
Net Wages, Salaries and Benefits
(Earned Income) 2012
Earned income is the largest component of TPI at 65.90 percent of all income and is the most
important indicator of the health of the household sector. Year over year, earned income in the Hudson
1
Total personal income is the sum of net wages, salaries and benefits, income on real and financial assets and transfer payments. It is the most
inclusive definition of regional income.
2
On November 21, 2013, the Bureau of Economic Analysis released revised income numbers.
3
The Great Recession ended in June of 2009.
1|Page
Valley advanced 2.42 percent ($2.17 billion) from $89.60 billion in 2011 to $91.77 billion in 2012
compared to a 2.90 percent ($18.95 billion) increase in New York State and a 4.32 percent ($367.53
billion) increase nationwide. Since the onset of the Great Recession, earned income has grown at an
annualized rate of 1.43 percent with the growth rate rising to 3.34 per annum over the most recent threeyear period. Over the same two periods, earned income in New York State grew 2.39 percent and 4.02
percent, while nationwide earned income grew 2.32 percent and 4.39 percent, respectively.
Income paid by Hudson Valley employers—to both residents and nonresidents—posted a yearover-year increase of $1.65 billion (2.50 percent), advancing from $66.11 billion in 2011 to $67.76
billion in 2012, while commuter income—income earned outside the Hudson Valley region—advanced
$516.50 million (2.20 percent) from $23.49 billion to $24.01 billion.
Rockland County witnessed the largest increase in earned income at 4.12 percent, followed by
Westchester County at 2.37 percent and Dutchess County at 2.06 percent. Statewide, earned income
increased 2.90 percent, while nationwide, earned income increased 4.32 percent.
Earned Income 2010-2012
Data Source: U.S. Bureau of Economic Analysis, Author calculations
Area
Dutchess
2010
(in
thousands)
2011
(in
thousands)
2012
(in
thousands)
Percent
Change
2010–
2011
Percent
Change
2011–2012
PerCapita
Earned
Income
Statewide
Rank
2011
$8,914,919
$9,314,717
$9,506,796
4.48%
2.06%
$31,975
10
Orange
$10,068,671
$10,490,544
$10,698,552
4.19%
1.98%
$28,567
13
Putnam
$3,885,428
$4,017,440
$4,081,877
3.40%
1.60%
$40,980
4
Rockland
$11,190,396
$11,453,912
$11,925,908
2.35%
4.12%
$37,532
5
Sullivan
$1,653,655
$1,690,841
$1,724,897
2.25%
2.01%
$22,462
36
Ulster
$4,386,617
$4,502,257
$4,562,350
2.64%
1.33%
$25,097
23
Westchester
$46,315,849
$48,131,460
$49,272,156
3.92%
2.37%
$51,236
2
Hudson Valley
$86,415,535
$89,601,171
$91,772,536
3.69%
2.42%
$39,738
NM*
New York State
$622,506,604
$652,632,625
$671,582,477
4.84%
2.90%
$34,316
NM*
United States
$8,007,961,000
$8,508,095,000
$8,875,621,000
6.25%
4.32%
$28,274
NM*
*Not Meaningful
Region-wide, per-capita earned income increased 2.42 percent from $38,871 in 2011 to
$39,7384 in 2012 and ranged from a high of $51,236 in Westchester County to a low of $22,462
Net Commuter Income 2010-2012
in Sullivan County.
Data
Source:
U.S.
Bureau of Economic Analysis, Author calculations
Within the region, perPercent
Percent
capita earned income in
2010
2011
2012
Change
Change
(in thousands) (in thousands) (in thousands)
2010–2011 2011–2012
Westchester ($51,236),
Dutchess
$1,950,066
$2,143,320
$2,275,574
9.91%
6.17%
Putnam ($40,980) and
Orange
$2,640,598
$2,737,521
$2,826,485
3.67%
3.25%
Rockland ($37,532)
Putnam
$2,279,312
$2,353,911
$2,406,140
3.27%
2.22%
exceeded the per-capita
Rockland
$3,103,936
$3,120,092
$3,339,383
0.52%
7.03%
Sullivan
$381,201
$402,154
$408,191
5.50%
1.50%
earned income in both
Ulster
$1,247,935
$1,300,855
$1,316,168
4.24%
1.18%
the U.S. ($28,274) and
Westchester
$10,732,206
$11,435,743
$11,438,145
6.56%
0.02%
New York State
Hudson Valley
$22,335,254
$23,493,596
$24,010,086
5.19%
2.20%
4
This increase is explained by a 2.42 percent increase in earned income in tandem with a year-over-year population decrease of (-.19 percent).
2|Page
($34,316). Per-capita earned income in Dutchess ($31,975) and Orange ($28,567) counties were above
the national per-capita level but fell when compared to the statewide average. Per-capita earned
incomes in Ulster ($25,097) and Sullivan ($22,462) counties were below both the national and
statewide levels.
Every county in the region with the exception of Sullivan County ranked in the top 30 percent
statewide, with Westchester County securing the second highest rate behind New York County
($82,350). Putnam, Rockland and Dutchess counties ranked in the top ten at four, five, and ten,
respectively. Sullivan County secured the lowest rank at 36th.
Interest, Dividends and Rents 2012
Unearned income (interest, dividends and rents) is the second largest component of TPI at
20.17 percent of TPI. Compared to the same period last year, unearned income advanced $1.22 billion
(4.56 percent), rising from $26.86 billion in 2011 to $28.09 billion in 2012, but remained $1.86 billion
(6.21 percent) below the pre-recession peak recorded in 2007. Region-wide, Sullivan County
experienced the largest year-over-year increase at 5.74 percent followed by Orange and Ulster counties
at 5.47 percent and 5.26 percent, respectively. Unearned income advanced 4.80 percent in New York
State and 5.52 percent nationwide.
Statewide, the average per-capita unearned income increased 4.44 percent from $9,143 in 2011
to $9,549 in 2012 and ranged from a high of $25,922 in New York County to a low of $3,675 in Bronx
County (rank 62nd). Region-wide, per-capita unearned income advanced at a lesser pace (4.36 percent),
increasing from $11,653 to $12,161. Overall, every county in the region ranked in the top 50 percent
with Westchester securing the highest rank (2nd) followed by Rockland (8th) and Putnam (10th). Ulster
and Dutchess ranked 13th and 14th, respectively, while Sullivan and Orange counties secured the lowest
ranks at 24th and 31st.
Unearned Income 2010–2012
Data Source: U.S. Bureau of Economic Analysis, Author calculations
Area
2010
(in thousands)
2011
(in thousands)
2012
(in thousands)
Percent
Change
2010-2011
Percent
Change
2010-2011
Per-Capita
Unearned
Income
Statewide
Rank
2012
Dutchess
$2,181,633
$2,458,218
$2,581,844
12.68%
5.03%
$8,684
14
Orange
$2,173,403
$2,364,136
$2,493,489
8.78%
5.47%
$6,658
31
Putnam
$798,355
$896,312
$942,423
12.27%
5.14%
$9,461
10
$2,660,823
$3,019,816
$3,165,254
13.49%
4.82%
$9,961
8
$479,118
$535,739
$566,470
11.82%
5.74%
$7,377
24
$1,415,203
$1,527,600
$1,608,025
7.94%
5.26%
$8,845
13
Westchester
$14,552,148
$16,059,566
$16,728,672
10.36%
4.17%
$17,395
2
Hudson Valley
$24,260,683
$26,861,387
$28,086,177
10.72%
4.56%
$12,161
NM*
New York State
$159,319,551
$178,301,183
$186,868,014
11.91%
4.80%
$9,549
NM*
$2,138,498,000
$2,364,576,000
$2,495,206,000
10.57%
5.52%
$7,949
NM*
Rockland
Sullivan
Ulster
United States
*Not Meaningful
3|Page
Transfer Payments 2012
Transfer payments include but are not limited to: old-age, survivors’ and disability insurance
benefits (Social Security); Medicare benefits; Medicaid benefits; income maintenance benefits
(principally temporary assistance, safety net assistance and food stamps); state unemployment insurance
compensation; veterans’ benefits; and federal training and educational assistance.
Total transfer payments continued to advance, posting a 3.16 percent ($594.00 million) yearover-year increase compared to a (1.11 percent) $2.00 billion increase in New York State and a (2.23
percent) $51.35 billion increase nationwide. Overall, since the onset of the Great Recession, transfer
payments have grown at an annualized rate of 5.97 percent region-wide, 5.07 percent statewide and 5.72
percent nationwide. Over the three-year period ending in 2012, transfer payments grew 3.37 percent in the
Hudson Valley, 2.29 percent in New York State and 3.21 percent nationwide.
Transfer Payments 2010-2012
Data Source: Bureau of Economic Analysis; Author calculations
Area
2010
(in thousands)
2011
(in thousands)
2012
(in thousands)
Percent
Change 20102011
Percent
Change 20102011
Per-Capita
Unearned
Income
Statewide
Rank
2012
Dutchess
$2,238,761
$2,287,059
$2,374,093
2.16%
3.81%
$7,985
50
Orange
$2,761,667
$2,817,259
$2,913,779
2.01%
3.43%
$7,780
53
Putnam
$656,946
$669,823
$696,232
1.96%
3.94%
$6,990
60
$2,562,607
$2,670,084
$2,776,255
4.19%
3.98%
$8,737
29
$764,255
$782,414
$800,184
2.38%
2.27%
$10,420
3
Ulster
$1,528,826
$1,569,021
$1,635,183
2.63%
4.22%
$8,995
26
Westchester
$7,860,993
$8,001,871
$8,195,364
1.79%
2.42%
$8,522
37
Hudson Valley
$18,374,055
$18,797,531
$19,391,090
2.30%
3.16%
$8,396
NM*
New York State
$179,000,354
$181,471,836
$183,480,051
1.38%
1.11%
$9,375
NM*
United States
2,276,873,000
2,306,890,000
2,358,236,000
1.32%
2.23%
$7,512
NM*
Rockland
Sullivan
*Not Meaningful
Region-wide, per-capita transfer payments advanced 2.96 percent from $8,155 in 2011 to $8,396
in 20125. Within the region, Sullivan County recorded the highest per-capita transfer payments at
$10,420, followed by Ulster and Rockland counties at $8,995 and $8,737, respectively. Consistent with
trend, Putnam County recorded the lowest per-capita transfer payments at $6,990.
Statewide, per-capita transfer payments ranged from a high of $11,167 in Richmond County—
Staten Island—to a low of $5,866 in Tompkins County (Southern Tier). Within the region, Sullivan
secured the highest rank at three ($10,420); Putnam the lowest at 60th ($6,990).
5
This increase is explained by the 3.16 percent increase in payments in tandem with a year-over-year population decrease
(-0.19 percent).
4|Page
Per-Capita TPI 2012
Year over year, per-capita TPI in the Hudson Valley advanced 2.75 percent from $58,679 in 2011
to $57,973 in 2012. This increase is explained by a 2.95 percent increase in TPI coupled with a .19
percent decrease in population. Over the same one-year period, per-capita TPI in the U.S. and New York
State advanced 2.56 percent and 3.40 percent, respectively.
Per-Capita TPI 2010-2012
Data Source: Bureau of Economic Analysis, author calculations
Area
2010
2011
2012
Percent Change
2009-2010
Percent Change
2010–2011
Statewide Rank
2011
Dutchess
$44,784
$47,148
$48,643
5.28%
3.17%
10
Orange
$40,168
$41,855
$43,005
4.20%
2.75%
21
Putnam
$53,523
$55,883
$57,431
4.41%
2.77%
4
Rockland
$52,521
$54,301
$56,230
3.39%
3.55%
5
Sullivan
$37,416
$39,038
$40,258
4.33%
3.13%
26
Ulster
$40,191
$41,619
$42,937
3.55%
3.17%
22
Westchester
$72,295
$75,426
$77,153
4.33%
2.29%
2
Hudson Valley
$56,253
$58,679
$60,296
4.31%
2.75%
NM*
New York State
$49,529
$51,914
$53,241
4.82%
2.56%
NM*
United States
$40,163
$42,298
$43,735
5.32%
3.40%
NM*
*Not Meaningful
Within the region, per-capita earned income in Westchester ($77,153), Putnam ($57,431) and
Rockland ($56,230) counties exceeded the per-capita earned income in both the U.S. ($43,735) and
New York State ($53,241). Per-capita TPI in Dutchess County ($48,643) was above the national percapita level, but fell short compared to the statewide average. Per-capita TPI incomes in Orange
($43,005), Ulster ($42,937) and Sullivan ($40,258) counties were below both the national and statewide
levels.
Statewide, per-capital TPI ranged from a high of $119,347 in New York County (Manhattan) to
a low of $30,368 in Allegany County. All counties in the region ranked in the top 50 percent with
Westchester County securing the second highest rank behind New York County (rank 1). Overall four
counties ranked in the top ten: Westchester (2), Putnam (4), Rockland (5) and Dutchess (10). The
remaining three counties, Orange, Ulster and Sullivan, ranked 21, 22 and 26, respectively.
5|Page
–2012 Statewide Data–
Per-Capita State Ranks 2012 ( 1of 2)
Data Source: Bureau of Economic Analysis, author calculations
Rank
Unearned
Income
Rank
Transfer
Payments
Area
TPI
Albany
$51,176
7
$32,671
9
$9,624
9
$8,881
63
Allegany
$30,368
62
$17,158
62
$4,849
59
$8,361
40
Bronx
$33,080
58
$19,019
57
$3,675
62
$10,385
5
Broome
$38,271
31
$21,892
43
$7,259
26
$9,120
22
Cattaraugus
$37,058
41
$21,156
46
$5,598
49
$10,305
7
Cayuga
$37,228
40
$22,952
31
$6,108
36
$8,168
48
Chautauqua
$33,628
57
$18,342
58
$5,605
48
$9,682
11
Chemung
$38,056
32
$22,420
37
$6,361
33
$9,275
20
Chenango
$36,987
42
$21,841
45
$5,935
39
$9,211
21
Clinton
$37,703
39
$23,109
30
$5,823
43
$8,771
28
Columbia
$45,341
13
$25,551
21
$10,270
5
$9,519
13
Cortland
$34,639
51
$21,055
47
$5,667
46
$7,917
52
Delaware
$35,343
48
$19,305
56
$7,028
28
$9,010
25
Dutchess
$48,643
10
$31,975
10
$8,684
14
$7,985
50
Erie
$43,932
19
$27,256
18
$7,616
22
$9,061
24
Essex
$37,777
38
$19,987
53
$8,296
18
$9,494
14
Franklin
$32,975
59
$19,359
54
$5,056
58
$8,561
36
Fulton
$37,913
35
$21,930
42
$5,792
44
$10,191
8
Genesee
$35,836
45
$21,985
40
$5,572
51
$8,280
42
Greene
$41,018
25
$23,776
27
$7,914
20
$9,327
18
Hamilton
$46,362
11
$22,122
39
$13,925
4
$10,315
6
Herkimer
$35,020
50
$20,235
51
$5,360
55
$9,425
15
Jefferson
$44,301
18
$28,805
11
$8,345
17
$7,151
59
Kings
$41,703
24
$26,202
20
$5,348
56
$10,153
10
Lewis
$33,774
55
$20,603
50
$5,900
41
$7,270
58
Livingston
$35,103
49
$21,865
44
$5,574
50
$7,663
54
Madison
$36,298
44
$22,477
35
$6,429
32
$7,392
56
Monroe
$46,105
12
$28,581
12
$8,647
16
$8,878
27
Montgomery
$34,435
52
$18,163
59
$5,853
42
$10,420
4
Nassau
$70,761
3
$46,781
3
$15,386
3
$8,594
34
$119,347
1
$82,350
1
$25,922
1
$11,074
2
Niagara
$37,899
36
$22,702
33
$5,910
40
$9,287
19
Oneida
$38,758
28
$22,242
38
$6,968
29
$9,548
12
New York
Rank
Earned
Income
Rank
6|Page
Per-Capita State Ranks 2012 (2 of 2)
Data Source: Bureau of Economic Analysis, author calculations
County
TPI
Rank
Earned Income
Rank
Unearned Income
Rank
Transfer Receipts
Rank
Onondaga
$44,700
16
$28,194
16
$7,854
21
$8,653
33
Ontario
$44,740
15
$28,452
14
$8,064
19
$8,225
46
Orange
$43,005
21
$28,567
13
$6,658
31
$7,780
53
Orleans
$32,212
60
$19,325
55
$4,803
60
$8,084
49
Oswego
$33,803
54
$20,814
49
$4,513
61
$8,476
38
Otsego
$35,689
47
$20,036
52
$7,297
25
$8,356
41
Putnam
$57,431
4
$40,980
4
$9,461
10
$6,990
60
Queens
$44,645
17
$28,207
15
$6,264
34
$10,174
9
Rensselaer
$42,821
23
$27,866
17
$6,751
30
$8,204
47
Richmond
$50,986
8
$32,776
8
$7,043
27
$11,167
1
Rockland
$56,230
5
$37,532
5
$9,961
8
$8,737
29
Saratoga
$49,886
9
$33,832
7
$9,087
12
$6,967
61
Schenectady
$45,051
14
$26,951
19
$9,400
11
$8,700
32
Schoharie
$38,308
30
$25,266
22
$5,482
52
$7,561
55
Schuyler
$37,789
37
$22,657
34
$6,013
38
$9,119
23
Seneca
$35,696
46
$21,959
41
$5,757
45
$7,980
51
St. Lawrence
$31,414
61
$17,729
61
$5,112
57
$8,573
35
Steuben
$37,988
34
$23,209
29
$6,064
37
$8,716
30
Suffolk
$55,221
6
$36,855
6
$9,967
7
$8,399
39
Sullivan
$40,258
26
$22,462
36
$7,377
24
$10,420
3
Tioga
$38,734
29
$24,352
24
$6,111
35
$8,270
43
Tompkins
$38,852
27
$24,330
25
$8,656
15
$5,866
62
Ulster
$42,937
22
$25,097
23
$8,845
13
$8,995
26
Warren
$43,155
20
$23,733
28
$10,079
6
$9,342
17
Washington
$36,833
43
$22,930
32
$5,662
47
$8,241
45
Wayne
$38,043
33
$23,948
26
$5,392
53
$8,703
31
Westchester
$77,153
2
$51,236
2
$17,395
2
$8,522
37
Wyoming
$33,729
56
$20,989
48
$5,364
54
$7,376
57
Yates
$33,844
53
$18,097
60
$7,499
23
$8,248
44
New York State
$53,241
NM
$34,316
NM
$9,549
NM
$9,375
NM
7|Page
Percent Change 2011-2012 and State Ranks 2012 ( 1of 2)
Data Source: Bureau of Economic Analysis, author calculations
Area
TPI
Albany
2.49%
2.32%
2.51%
2.36%
2.12%
2.07%
2.15%
2.12%
4.31%
2.72%
3.06%
3.09%
3.90%
2.86%
3.10%
3.38%
2.58%
1.84%
2.16%
2.96%
3.60%
1.50%
-0.38%
2.60%
1.06%
2.56%
1.84%
4.00%
2.10%
2.66%
2.97%
2.40%
1.96%
Allegany
Bronx
Broome
Cattaraugus
Cayuga
Chautauqua
Chemung
Chenango
Clinton
Columbia
Cortland
Delaware
Dutchess
Erie
Essex
Franklin
Fulton
Genesee
Greene
Hamilton
Herkimer
Jefferson
Kings
Lewis
Livingston
Madison
Monroe
Montgomery
Nassau
New York
Niagara
Oneida
Rank
35
41
33
39
50
52
48
49
1
22
14
13
7
18
12
10
29
55
47
16
9
56
62
28
59
31
54
5
51
25
15
38
53
Earned
Income
2.37%
1.81%
3.65%
1.86%
1.36%
0.98%
1.22%
1.30%
4.69%
1.73%
2.21%
3.11%
3.63%
2.06%
2.81%
1.69%
1.39%
1.53%
1.24%
2.59%
1.28%
0.43%
-1.80%
2.96%
-0.85%
1.48%
1.03%
4.00%
1.06%
2.30%
3.33%
1.62%
1.00%
Rank
18
30
7
28
43
55
48
45
2
31
20
11
8
24
13
32
42
38
47
14
46
56
62
12
60
41
53
5
52
19
9
34
54
Unearned
Income
4.61%
5.96%
7.73%
5.42%
6.33%
6.37%
6.19%
5.84%
5.67%
6.25%
4.87%
6.11%
5.43%
5.03%
5.58%
5.63%
6.90%
5.59%
5.55%
5.83%
6.21%
5.92%
3.05%
6.81%
5.57%
5.68%
5.29%
5.50%
5.72%
3.76%
3.55%
5.79%
5.41%
Rank
57
14
1
41
6
4
10
20
28
8
55
11
40
54
33
31
2
32
35
21
9
16
62
3
34
26
47
38
25
60
61
23
42
Transfer
Payments
0.74%
1.36%
-1.18%
1.24%
1.49%
2.05%
1.67%
1.65%
2.56%
3.08%
3.43%
0.96%
3.30%
3.81%
1.96%
5.12%
2.85%
0.46%
2.44%
1.57%
5.25%
1.41%
1.61%
-0.38%
3.11%
3.48%
1.43%
2.56%
1.95%
2.66%
-0.94%
2.24%
1.77%
Rank
57
52
62
54
49
35
43
44
23
15
9
55
13
7
36
2
18
58
27
48
1
51
46
60
14
8
50
24
37
22
61
33
40
8|Page
Percent Change 2011-2012 and State Ranks 2012 ( 2of 2)
Data Source: Bureau of Economic Analysis, author calculations
County
TPI
Rank
Earned Income
Rank
Unearned Income
Rank
Transfer Receipts
Rank
Onondaga
3.94%
6
3.94%
6
5.68%
27
2.42%
29
Ontario
2.53%
32
1.59%
37
5.64%
29
2.83%
19
Orange
2.77%
20
1.98%
26
5.47%
39
3.43%
10
Orleans
2.22%
46
1.21%
49
5.90%
17
2.54%
25
Oswego
2.32%
40
1.50%
40
6.00%
13
2.48%
26
Otsego
2.27%
44
1.51%
39
5.26%
50
1.59%
47
Putnam
2.45%
36
1.60%
35
5.14%
52
3.94%
5
Queens
4.21%
3
5.49%
1
5.83%
22
-0.08%
59
Rensselaer
2.69%
24
2.17%
21
5.25%
51
2.42%
28
Richmond
2.26%
45
2.08%
23
5.35%
45
0.89%
56
Rockland
4.22%
2
4.12%
4
4.82%
56
3.98%
4
Saratoga
3.19%
11
2.45%
16
5.52%
37
3.89%
6
Schenectady
2.64%
26
1.68%
33
5.08%
53
3.05%
16
Schoharie
0.74%
60
-0.62%
59
5.26%
49
2.22%
34
Schuyler
2.51%
34
1.59%
36
5.85%
18
2.66%
21
Seneca
2.64%
27
2.10%
22
6.00%
12
1.76%
41
St. Lawrence
2.41%
37
1.84%
29
6.31%
7
1.34%
53
Steuben
0.69%
61
-1.05%
61
5.37%
44
2.32%
31
Suffolk
2.57%
30
1.92%
27
4.40%
58
3.35%
12
Sullivan
2.74%
21
2.01%
25
5.74%
24
2.27%
32
Tioga
1.35%
57
0.30%
57
5.38%
43
1.61%
45
Tompkins
4.19%
4
4.33%
3
5.52%
36
1.75%
42
Ulster
2.72%
23
1.33%
44
5.26%
48
4.22%
3
Warren
3.72%
8
3.31%
10
5.33%
46
3.05%
17
Washington
2.91%
17
2.53%
15
5.93%
15
1.94%
38
Wayne
1.27%
58
-0.45%
58
5.85%
19
3.41%
11
Westchester
2.77%
19
2.37%
17
4.17%
59
2.42%
30
Wyoming
2.32%
42
1.18%
50
6.35%
5
2.78%
20
Yates
2.30%
43
1.17%
51
5.64%
30
1.89%
39
New York State
2.92%
NM
2.90%
NM
4.80%
NM
1.11%
NM
9|Page