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Richmond—Despite the economic downturn, Virginia’s total personal income is expected to hit another all-time high of nearly $16.9 billion in 1970 according to estimates by the Virginia Employment Commission.
J. Gordon Gifford, economist and editor of the VEC’s “Economic Indicators,” also estimates that based on preliminary data for the first six months of the year, Virginia’s rate of increase for personal income from 1969 to 1970 will be 9.4 per cent, compared to 7 per cent for the nation as a whole.
Gifford explained that he was unable to convert his overall estimates of personal income into per capita figures because of the lack of final census figures on population.
With “so many strong trends, inflation versus unemployment as an example, running counter to each other,” Gifford said, it is hard to estimate the aggregate totals.
However, Gifford’s estimates of personal income for 1969 for the five states plus the District of
92.9%