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Personal Income Growth Rate

Income Growth

As outlined in

State personal income decreased 21.8 percent at an annual rate in the second quarter of 2021 after increasing 56.9 percent in the first quarter, according to estimates released today by the U.S. Bureau of Economic Analysis (BEA) (table 1). In the second quarter of 2021, the decrease in transfer receipts was the leading contributor to personal income declines in all 50 states and the District of Columbia (table 2). The percent change in personal income across all states ranged from –10.1 percent in the District of Columbia to –34.0 percent in West Virginia.