Idaho Personal Income report misleading, wages & construction down again

Idaho media reporting an increase in “personal income”.  The problem is that “personal income”, as reported by the U.S. Bureau of Economic Analysis, includes things the average person does not consider “personal income”.

What government officials consider “personal income” includes unemployment benefits, business investments, business profits, farm profits, construction profits and government payments, besides individual wages.

The report for the first quarter of 2011 shows an increase.  But that’s due mainly to business profits, investment returns and farm profits.  When you look at wages for workers, it went down.

Also, income from construction in Idaho also fell, for the 3rd straight quarter.

If your wondering how businesses keep showing a profit, it’s because they’ve been laying workers off, or not hiring when they should!