An Oakland County, Michigan market research analyst is clearing up some confusion about a recent 24 7 Wall Street report that claims Livingston County has the highest median household income in Michigan, County Executive L. Brooks Patterson announced today. Dan Riley, who analyzes economic data for the county’s Department of Economic Development & Community Affairs, said Oakland County is first in per capita income in Michigan.
“The report used five-year estimates for household income from the U.S. Census Bureau’s American Community Survey data which has a significant margin-of-error because it is based on averages of small sample surveys over the five years and does not include income from sources such as capital gains,” Riley said. “For our income numbers we use data from the U.S. Bureau of Economic Analysis (BEA) which is considered more accurate, includes capital gains and other non-regular payments, but measures personal or per capita income instead of household income.”
Oakland County’s per capita income for 2013, the latest year for which data is available from the BEA, was $57,035 – the highest of any county in Michigan. Livingston County’s per capita income of $44,800 placed it fourth in the state.
Riley also said Oakland County has a higher number of high-income households.
“The online report also stated that 4.8 percent of Livingston County households earn more than $200,000 annually. Using the same data, 7.7 percent of Oakland County households earn more than $200,000 annually,” Riley said.
County Executive Patterson congratulated Livingston on their median household income ranking.
“Livingston County is a vital partner in our seven-county Economic Growth Alliance (EGA),” Patterson said. “When one of the EGA partners does well, we all benefit.”
Patterson formed the EGA in 2009 to promote economic growth and diversification in Oakland, Genesee, Lapeer, Livingston, Macomb, Shiawassee, and St. Clair counties. It encompasses 3 million, 73,000 companies, and key transportation infrastructure such as I-75, I-69, Oakland County International Airport, Flint Bishop Airport, and the Blue Water Bridge.
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