United States. Bureau of Economic Analysis. "Metropolitan Area Personal Income, OBE 69-25," Bureau of Economic Analysis (BEA) News Releases (May 27, 1969). https://fraser.stlouisfed.org/title/6148/item/594989, accessed on May 8, 2025.

Title: Metropolitan Area Personal Income, OBE 69-25

Date: May 27, 1969
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image-container-0 U N ITED STATES D E P A R T M E N T OF OFFICE OF BUSIN ESS ECONOMICS W ASHI NGTON, D.C. 2 0 2 3 0 FOR RELEASE TUESDAY A.M., MAY 2 7 , 19 6 9 OBE 6 9 - 2 5 Robert E. Graham, Jr. : 343-6567 Kenneth P. Berkman : 343-2674 METROPOLITAN AREA PERSONAL INCOME Per capita income of metropolitan area residents in 1967 was 45 per cent higher than that of Americans living in the rest of the country, according to the most recently completed estimates of the Commerce Depart ment’s Office of Business Economics. Average income per person among the 134 million inhabitants of standard metropolitan statistical areas (SMSA's) was $3,511; for the rest of the population, it was $2,429. Income of the metropolitan area dweller was $220 or 6.7 percent above the 1966 figure as compared with an average annual increase of 4.3 percent in the 1959-1966 period. Outside the SMSA's, the rise in per capita income over 1966 was 6.1 percent, following an average annual advance of 5.2 per cent from 1959 to 1966. Much of the 1967 speedup in current dollar income gain as compared with the earlier period was offset by higher prices. For all metropolitan areas taken together, personal income totaled $473 billion. This was three-fourths of the national total, a proportion that has held steady over nearly four decades. The fastest rates of income growth in 1967 tended to be in the smaller metropolitan areas. Among the 25 SMSA's where personal income expanded most rapidly, 19 were areas whose aggregate personal income was under $1.0 billion. These findings are part of a revised and updated series, first published last year, providing estimates of personal income for the Nation's 223 SMSA's. The data cover both total and per capita income for eight selected years from 1929 through 1967. /More/
image-container-1 Prepared by the Department's Office of Business Economics as part of its regional economic information system, the series is designed to reflect the current level and long-term changes in economic activity and purchasing power of residents of SMSA's. It measures the broad economic base of each metropolitan area and illustrates the changes over the last four decades. Through a breakdown of income by type (wages and salaries, proprietors' income, etc.) and by industrial origin for each SMS A, economic progress or deterioration can be traced and the economic factors directly responsible identified. The regional data are useful in preparing economic and business development plans, anti-poverty programs, marketing campaigns, and for many other purposes. The new and revised data along with technical notes explaining the series appear in the May issue of OBE's monthly magazine, Survey of Current Business. Income Changes, 1967 Total personal income for all SMSA's increased 8.1 percent in 1967 as compared with a 6*5 percent advance in the non-metropolitan areas. Those metropolitan areas exhibiting the greatest rates of income growth were usually the smaller SMSA's. The SMSA's whose income totals had expanded more than 15 percent over 1966 were Fayetteville, N. C. (28.7 percent); Lawton, Ok la. (23.0 percent); Sioux Falls, S. D. (18.8 percent); Colorado Springs, Colo. (18.0 percent); Texarkana, Tex. - Ark. (17.5 percent); Austin, Tex. (16.9 percent); Fort Lauderdale, Fla. (16.0 percent); and Durham, N. C. (15.5 percent). In this group, Fort Lauderdale was the only SMSA with an income total ($1.3 billion) much over $3/4 billion. The sharp spurt in Fayetteville and Lawton was due to a rise in military earnings. In both of these SMSA's, military payrolls amounted to slightly more than 50 percent of total personal income in 1967. Government (other than military) and/or manufacturing were primarily responsible for the large gains in the rest of the foregoing group» Of the 25 SMSA's with the fastest growth in 1967, only three had income totals greater than $3.0 billion: Miami (up 13.1 percent to $3.9 billion); Seattle-Everett (up 12.4 percent to $5.2 billion); and Dallas (up 12.0 per cent to $4.9 billion). Three had income totals between $1.0 and $3.0 billion, and 19 had income totals less than $1.0 billion. / More7
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Date: May 27, 1969
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