State personal income increased 34.2 percent at an annual rate in the second quarter of 2020, an acceleration from the 4.1 percent increases in the first quarter. Personal income increased in every state and the District of Columbia ranging from 15.3 percent in the District of Columbia to 76.3 percent in Massachusetts.
- Transfer receipts increased $2.5 trillion for the nation in the second quarter of 2020, after increasing $80.3 billion in the first quarter. Increases in personal current transfer receipts more than offset decreases in earnings and in property income. The increase in transfer receipts includes new government relief payments provided by the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020.
- Transfer receipts increased in every state, ranging from $3.8 billion in Wyoming to $342.6 billion in California.
- Earnings decreased 27.5 percent for the nation in the second quarter of 2020, after increasing 3.4 percent in the first quarter. The percent change in earnings across all states ranged from -14.0 percent in Utah to -38.1 percent in Nevada.
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