GLOSSARY

Dividend, Interest, Rent Income (Div/Int/Rent)

Dividend income consists of the payments in cash or other assets, excluding the corporation's own stock, made by corporations located in the United States or abroad to persons who are U.S. residents. It excludes that portion of dividends paid by regulated investment companies (mutual funds) related to capital gains distributions. Interest income (monetary and imputed) of persons is that received from all sources. Rental income is the net income of persons from the rental of real property except for the income of persons primarily engaged in the real estate business; the imputed net rental income of the owner-occupants of nonfarm dwellings; and the royalties received from patents, copyrights, and the right to natural resources. (Source: BEA)

Earnings

Earnings is technically called "Earnings by Place of Work." It is the sum of wage and salary disbursements, supplements to wages and salaries, and proprietors' income. Wage and salary disbursements consists of the monetary remuneration of employees, including corporate officers salaries and bonuses, commissions, pay-in-kind, incentive payments, and tips. It reflects the amount of payments disbursed, but not necessarily earned during the year. Supplements to wages and salaries consists of employer contributions to employee pension and insurance funds and of employer contributions for government social insurance (Social Security and Medicare). Proprietors' income is the current-production income (including income in kind) of sole proprietorships and partnerships and of tax-exempt cooperatives. (Source: BEA)

Economic Sector

An economic sector refers to a general area of good or service production. There are 21 economic sectors in total. (Visit NAICS.)

Economic Structure

The structure of an economy in the context of this program refers to all of the economic sectors which together form a region's economy.

Income From Work

Income From Work is technically called "Net Earnings by Place of Residence." Income From Work is found by subtracting employee and employer contributions to social insurance as well as an adjustment for residence. Income from Work derives its values from NAICS earnings data.

Personal Income

Personal income is the sum of income from work; dividend, interest, and rental income; and transfer payments.

Per-Capita Income

Per-Capita income is a region's personal income divided by its population.

Transfer Payments

Transfer payments are technically called "Personal Current Transfer Payments." Transfer payments are payments to persons for which no current services are performed. It consists of payments to individuals and to nonprofit institutions by Federal, state, and local governments and by businesses. Government payments to individuals includes retirement and disability insurance benefits, medical payments (mainly Medicare and Medicaid), income maintenance benefits, unemployment insurance benefits, veterans benefits, and Federal grants and loans to students. Government payments to nonprofit institutions excludes payments by the Federal Government for work under research and development contracts. Business payments to persons consists primarily of liability payments for personal injury and of corporate gifts to nonprofit institutions. (Source: BEA)

The Maine Economy:2001 - 2004
Copyright March, 2007. Margaret Chase Smith Policy Center, University of Maine, Orono, Maine 04469
Robert Roper, Professor of Business Administration, University of Maine at Augusta
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