Vermont posts 2nd fastest income growth in nation - WCAX.COM Local Vermont News, Weather and Sports-

Vermont posts 2nd fastest income growth in nation

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MONTPELIER, Vt. (AP) - New statistics show that in the first quarter of 2014, Vermont ranked second in the nation for fastest personal income growth.

Federal data released Tuesday by the U.S. Bureau of Economic Analysis showed that personal income in Vermont increased about 1.4 percent in the first quarter. The national average was 0.8 percent.

Vermont leads New England in personal income growth. Washington state had the fasted growth nationally.

Industries in Vermont with the biggest earnings gains were construction and professional, scientific, and technical services.

For months Vermont has had one of the lowest unemployment rates in the nation. In April and May the rate was 3.3 percent, also the second lowest rate in the nation.

Vermont Gov. Peter Shumlin says overall the trends indicate economic strength.

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