What it says
Since the Great Recession, growth of personal income in Missouri has lagged behind most of the rest of the country. The state’s average annual income has grown only 0.8 percent since the fourth quarter of 2007, compared to the U.S. average of 1.6 percent in the last decade, according to Pew Charitable Trusts, a nonprofit that specializes in public interest research.
Why it matters
Personal income has a significant effect on consumer spending, which drives a large part of the economy. In both 2016 and 2017, Missouri’s average personal income was 0.3 percent, which was much lower than the U.S. average.