Bear Facts
Montgomery, New York 1996 - 2006
Montgomery is one of 62 counties in New York. It is part of the Amsterdam, NY Micropolitan SA. Its 2006 population of 48,809 ranked 51st in the state.
PER CAPITA PERSONAL INCOME
In 2006 Montgomery had a per capita personal income (PCPI) of $29,322. This PCPI ranked 35th in the state and was 67 percent of the state average, $44,027, and 80 percent of the national average, $36,714. The 2006 PCPI reflected an increase of 4.9 percent from 2005. The 2005-2006 state change was 7.3 percent and the national change was 5.6 percent. In 1996 the PCPI of Montgomery was $19,594 and ranked 35th in the state. The 1996-2006 average annual growth rate of PCPI was 4.1 percent. The average annual growth rate for the state was 4.5 percent and for the nation was 4.3 percent.
TOTAL PERSONAL INCOME
In 2006 Montgomery had a total personal income (TPI) of $1,431,182*. This TPI ranked 48th in the state and accounted for 0.2 percent of the state total. In 1996 the TPI of Montgomery was $1,005,284* and ranked 47th in the state. The 2006 TPI reflected an increase of 5.1 percent from 2005. The 2005-2006 state change was 7.5 percent and the national change was 6.7 percent. The 1996-2006 average annual growth rate of TPI was 3.6 percent. The average annual growth rate for the state was 4.9 percent and for the nation was 5.4 percent.
COMPONENTS OF TOTAL PERSONAL INCOME
Total personal income includes net earnings by place of residence; dividends, interest, and rent; and personal current transfer receipts received by the residents of Montgomery. In 2006 net earnings accounted for 57.8 percent of TPI (compared with 56.5 in 1996); dividends, interest, and rent were 15.0 percent (compared with 17.7 in 1996); and personal current transfer receipts were 27.2 percent (compared with 25.8 in 1996). From 2005 to 2006 net earnings increased 2.3 percent; dividends, interest, and rent increased 11.2 percent; and personal current transfer receipts increased 8.2 percent. From 1996 to 2006 net earnings increased on average 3.8 percent each year; dividends, interest, and rent increased on average 1.9 percent; and personal current transfer receipts increased on average 4.1 percent.
EARNINGS BY PLACE OF WORK
Earnings of persons employed in Montgomery increased from $777,727* in 2005 to $806,226* in 2006, an increase of 3.7 percent. The 2005-2006 state change was 6.8 percent and the national change was 5.7 percent. The average annual growth rate from the 1996 estimate of $575,240* to the 2006 estimate was 3.4 percent. The average annual growth rate for the state was 5.1 percent and for the nation was 5.5 percent.
*Note: All income estimates with the exception of PCPI are in thousands of dollars, not adjusted for inflation.
USDOC, Bureau of Economic Analysis, April 24, 2008