Tampa Bay's Average Personal Income Rises to $39,261
For the first time since the Great Recession, incomes are up in every major U.S. metropolitan area – including Tampa Bay.
That’s according to figures released this week by the U.S. Bureau of Economic Analysis. From 2010 to 2011, the Tampa-St. Petersburg-Clearwater area saw a 3.2 percent jump in per capita personal income -- that's the region's total personal income divided by its total midyear population. Nationwide, incomes went up 4.26 percent.
Here's what folks earned on average in 2011, with 2010 wages in parentheses:
- Tampa Bay: $39,261 ($38,048)
- Florida: $39,636 ($38,345)
- United States: $41,560 ($39,791)
The recession's official dates were December 2007 to June 2009.
“We are several years into the economic recovery, so all the boats are starting to be lifted — a little bit,” University of Central Florida economist Sean Snaith told the Sarasota Herald-Tribune.
But the additional earnings don't necessarily translate to more spending money for the holidays, as increased health care costs eat up much of the difference. Then there's the national cost of living, which last year rose 3.2 percent -- exactly the same proportion as Tampa Bay's average wage increase.