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Personal income in Louisiana growth slowed to a 2.3 percent rate in the third quarter of this year, a smaller gain than almost every other state, newly released figures show.
The U.S. grew personal income by 4 percent, according to the U.S. Bureau of Economic Analysis. Personal income includes income from labor, owning a home or business, financial assets and transfers.
Louisiana ranked 48th in the rate of growth. Mississippi, also at 2.3 percent, ranked 49th, and Missouri, at 2.1 percent, ranked 50th.
The state added $1.19 billion in personal income during the period, including $796 million in net earnings.
Farm earnings took the biggest hit in the quarter, down $101 million. Mining, quarrying and oil and gas extraction fell by $75 million.
Read more: Louisiana personal income growth lags behind nation in third quarter
