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EMBARGOED FOR RELEASE: 8:30 A.M. EDT, Tuesday, September 24, 2019

BEA 19-46

State Personal Income, Second Quarter 2019

State personal income increased 5.4 percent at an annual rate in the second quarter of 2019, a deceleration from the 6.2 percent increase in the first quarter, according to estimates released today by the Bureau of Economic Analysis (table 1). The percent change in personal income across all states ranged from 7.5 percent in Texas to unchanged in North Dakota.

Increases in earnings, property income (dividends, interest, and rent), and transfer receipts contributed to personal income growth nationally and in most states (table 2).

Earnings. Earnings increased 4.4 percent in the second quarter of 2019, after increasing 8.1 percent in the first quarter. Earnings increased in 20 of the 24 industries for which BEA prepares quarterly estimates (table 4).

For the nation, professional, scientific, and technical services; finance and insurance; and state and local government were the leading contributors to overall growth in earnings.

Chart: Largest Contributors to Growth in U.S. Earnings 2019:Q1 – 2019:Q2

Professional, scientific, and technical services was the leading contributor to the earnings increase in Texas, the fastest growing state, as well as five other fast-growing states-- Washington, Utah, Nevada, Arizona, and Oregon (table 3).
Finance was the leading contributor to the earnings increase in Delaware and New York.
Mining was the leading contributor to the earnings increase in New Mexico.
Farming was the leading contributor to the earnings increase in Idaho.

Farming was a leading contributor to the earnings decrease in North Dakota and South Dakota, and to slow growth in Iowa, Mississippi, Nebraska, and Kansas. The decreases in farm earnings reflect smaller Market Facilitation Payments in the second quarter of 2019 than in the first quarter.

Property income. Property income increased 8.0 percent for the nation in the second quarter of 2019, after decreasing 4.6 percent in the first quarter. Property income increased in every state, ranging from 10.5 percent in Utah and New York to 4.7 percent in Alaska.

Transfer receipts. Transfer receipts increased 6.1 percent for the nation in the second quarter of 2019, after increasing 15.4 percent in the first quarter. Growth in transfer receipts ranged from 10.6 percent in Alaska to 0.1 percent in Connecticut.

Annual Update of State Personal Income

The estimates of 2019:Q2 personal income incorporate the results of BEA's annual update of state personal income that was also released today. The annual estimates of state personal income for 1998 to 2018, and quarterly estimates of state personal income for 1998:Q1 to 2019:Q1 were revised (Table 5). The update incorporates revised source data that are more complete and more detailed than previously available, updates to seasonal factors, and the results of the July 2019 annual update of the National Income and Product Accounts.

Today, BEA also released revised estimates of real state personal income for 2008 to 2017 that incorporate the results of the annual update to state personal income.

Next release: December 18, 2019 at 8:30 A.M. EST
State Personal Income, Third Quarter 2019

Full Release & Tables (PDF)

Tables Only (Excel)

Highlights (PDF)

Matthew von Kerczek

(301) 278-9250

REIS@bea.gov

David G. Lenze

(301) 278-9292

reis@bea.gov

News Media

Thomas Dail

301-278-9003

Thomas.Dail@bea.gov

Resources

Stay informed about BEA developments by reading the BEA blog, signing up for BEA's email subscription service, or following BEA on Twitter @BEA_News.
Historical time series for these estimates can be accessed in BEA's Interactive Data Application.
Access BEA data by registering for BEA's Data Application Programming Interface (API).
For more on BEA's statistics, see our monthly online journal, the Survey of Current Business.
BEA's news release schedule.
BEA Regional Facts (BEARFACTS), a narrative summary of personal income, per capita personal income, and components of income for each state.
Complete information on the sources and methods for the estimation of BEA's State Personal Income and Employment.

Definitions

Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers. It includes income from domestic sources as well as the rest of world. It does not include realized or unrealized capital gains or losses.

Personal income is measured before the deduction of personal income taxes and other personal taxes and is reported in current dollars (no adjustment is made for price changes).

The estimate of personal income for the United States is the sum of the state estimates and the estimate for the District of Columbia; it differs slightly from the estimate of personal income in the national income and product accounts (NIPAs) because of differences in coverage, in the methodologies used to prepare the estimates, and in the timing of the availability of source data.

Per capita personal income is calculated as the total personal income of the residents of a state divided by the population of the state. In computing per capita personal income, BEA uses midquarter population estimates based on unpublished Census Bureau data.

Earnings:
Earnings by place of work is the sum of wages and salaries, supplements to wages and salaries, and proprietors' income. BEA's industry estimates are presented on an earnings by place of work basis.

Net earnings by place of residence is earnings by place of work less contributions for government social insurance, plus an adjustment to convert earnings by place of work to a place-of-residence basis. BEA presents net earnings on an all industry level.

Property income is rental income of persons, personal dividend income, and personal interest income.

Personal current transfer receipts are benefits received by persons from federal, state, and local governments and from businesses for which no current services are performed. They include retirement and disability insurance benefits (mainly Social Security), medical benefits (mainly Medicare and Medicaid), income maintenance benefits, unemployment insurance compensation, veterans' benefits, and federal education and training assistance.

Statistical Conventions

Quarter-to-quarter percent changes are calculated from unrounded data and are annualized. Annualized growth rates show the rate of change that would have occurred had the pattern been repeated over four quarters (one year). Annualized rates of change can be calculated as follows: (((level of later quarter / level of earlier quarter)^4)-1)*100. Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Quarter-to-quarter dollar changes are differences between published estimates.

BEA Regions

BEA groups all 50 states and the District of Columbia into eight distinct regions for purposes of data collecting and analyses: New England (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont); Mideast (Delaware, District of Columbia, Maryland, New Jersey, New York, and Pennsylvania); Great Lakes (Illinois, Indiana, Michigan, Ohio, and Wisconsin); Plains (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota); Southeast (Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia); Southwest (Arizona, New Mexico, Oklahoma, and Texas); Rocky Mountain (Colorado, Idaho, Montana, Utah, and Wyoming); and Far West (Alaska, California, Hawaii, Nevada, Oregon, and Washington).

Uses of State Personal Income Statistics

State personal income statistics provide a framework for analyzing current economic conditions in each state and can serve as a basis for decision making. For example:

Federal government agencies use the statistics as a basis for allocating funds and determining matching grants to states. The statistics are also used in forecasting models to project energy and water use.
State governments use the statistics to project tax revenues and the need for public services.
Academic regional economists use the statistics for applied research.
Businesses, trade associations, and labor organizations use the statistics for market research.

List of News Release Tables

Table 1. Personal Income, by State and Region, 2018:Q1-2019:Q2

Table 2. Personal Income Change by Component, by State and Region, 2019:Q1-2019:Q2

Table 3. Contributions of Earnings to Percent Change in Personal Income by Industry, State and Region, 2019:Q1-2019:Q2

Table 4. Earnings Growth by Industry, State and Region, 2019:Q1-2019:Q2

Table 5. Revisions to Personal Income, by State and Region, 2016-2018