The new personal income data sheds some very interesting light on King County.

First, as we note elsewhere, the county's per-capita personal income increased 9.6 percent in 2006, to $52,655. That's about a 20-percent gain over 2001, when it was $43,734.

One of the most-striking things, however, is the growth in investment income. Earnings from "dividends, interest and rent" jumped 12 percent over 2005's total, to $20.2 billion, and were up a whopping 54 percent from 2001. Slice the numbers another way, and investment income in 2006 accounted for 21 percent of all money earned by King County residents - one dollar in five. Six years earlier, it was 17 percent - about one dollar in six.

The inference: this one-time socialist workers' paradise is more and more becoming a capitalist stronghold. That could have all kinds of social and political implications. But instead of going down that road, let's get back to the economic data and what it says about those of us still slaving for The Man.

What are the biggest wage-paying sectors? A hint: It's not software. Manufacturing paychecks accounted for $11.8 billion of King County personal income in 2006. The biggest share ($9.3 billion worth) was for durable goods - like airplanes and trucks, two industries that by my math accounted for roughly $6.4 billion in payrolls that year.

And what about Microsoft? Well yes, the information industries accounted for $11.3 billion in personal income. Within that, publishers - which includes everything from software to us here toiling away at Washington CEO - represented $7.8 billion.

The other big sectors? Government, which accounted for some $10.3 billion in personal income. Health care contributed $6.4 billion; finance and insurance (that is, WaMu and Safeco) $6.3 billion; and construction was $5.8 billion. Also, wholesale trade was $5.7 billion; and retail trade accounted for $5.4 billion, of which $871 million was generated by "non-store retailers." (There you are, Amazon. I wondered where you'd been hiding.)

So what do these numbers tell us? Well, there's a lot of good news in that the two biggest players (Boeing and Microsoft) in the two biggest sectors (manufacturing and information) are still growing. Seems like I say that a lot, but it's still true, and it's what separates the Puget Sound economy from the rest of the nation.

But the upheaval at WaMu and Safeco is cause for concern. The finance/insurance sector accounted for about 10 percent of all wages paid to King County residents in 2006. That sector has taken a beating since then; the latest employment numbers show King County already has lost about 1,800 banking and insurance jobs. With big layoffs underway at Washington Mutual and the possibility of jobs cuts at Safeco - at the very least, new owners Liberty Mutual won't need a full headquarters staff in Seattle - this is certainly a problem sector.