California's personal income ran at a $3.39 trillion annual pace in the year ended September 2024, making it the highest among the states and accounting for 14% of the nation’s total personal income. This significant economic volume is expected to curb the financial impact of rebuilding after the Los Angeles wildfires, with funds coming from insurance and various government assistance programs.
The personal income in California is not only vast but also growing rapidly, expanding at an average rate of 6.7% annually through September 2024, the highest among all states. This growth is crucial as it supports the residents during the aftermath of natural disasters, providing essential financial resources for rebuilding efforts.
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