June 27, 2017
State personal income growth accelerated to 1.0 percent on average in the first quarter of 2017 from 0.3 percent in the fourth quarter of 2016. Earnings and personal current transfer receipts were the leading contributors to growth for the nation and in most states.
- Personal Income grew 1.6 percent in Idaho, faster than in any other state. Four other states— Louisiana, Michigan, Florida, and Texas—had the next fastest growth in personal income at 1.3 percent.
- Kansas, Minnesota, North Dakota, and Iowa had the slowest growth, and Nebraska at -0.1 percent was the only state where personal income declined.
- Earnings increased 0.9 percent for the nation in the first quarter of 2017. Earnings growth ranged from 1.5 percent in Michigan to -0.7 percent in Nebraska.
- Personal current transfer receipts grew 1.5 percent for the nation in the first quarter of 2017. Growth rates ranged from 2.9 percent in Florida to -0.7 percent in Illinois.
For more information, read the full report.