December 18, 2019
State personal income increased 3.8 percent at an annual rate in the third quarter of 2019, a deceleration from the 4.4 percent increase in the second quarter. The percent change in personal income across all states ranged from 15.2 percent in South Dakota to 1.9 percent in West Virginia and Wyoming.
- For the nation, earnings increased 5.2 percent in the third quarter, after increasing 2.9 percent in the second quarter. Increases in farm earnings were the leading contributors to income growth in each of the ten fastest growing states.
- Transfer receipts increased 5.0 percent for the nation in the third quarter, after increasing 6.0 percent in the second quarter. Growth in transfer receipts ranged from 6.4 percent in California to -0.2 percent in Alaska
- Property income decreased 1.2 percent for the nation in the third quarter, after increasing 7.9 percent in the second quarter. Property income decreased in almost every state, ranging from unchanged in Nevada and Georgia to -2.8 percent in New York.
For more information, read the full report.