PORTLAND — Federal data say the growth of personal incomes of Maine residents lagged behind the national average and the rest of New England in 2014.
The Bureau of Economic Analysis reports Wednesday that personal income in Maine grew 2.9 percent, ranking the state 40th in the nation. The national average for growth was 3.9 percent.
The Portland Press Herald reports Maine’s income growth was slowed by lagging personal transfer receipts. The category includes programs such as Social Security, aid to needy families and Medicare. The national average for the category was 4.5 percent, compared to 2.3 percent in Maine.
The second-lowest rate of personal income growth in New England was in Connecticut, where the rate was 3 percent. The other four states saw rates of 4 percent or better.
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