March 24, 2021
State personal income increased 6.1 percent in 2020 after increasing 3.9 percent in 2019. In 2020, the increase in transfer receipts was the leading contributor to personal income growth in all states and the District of Columbia. The percent change in personal income across all states ranged from 8.4 percent in Arizona and Montana to 2.4 percent in Wyoming.
- Transfer receipts increased 36.6 percent, accounting for the entire $1.1 trillion dollar increase in personal income for the nation in 2020.
- The increase in transfer receipts reflected new government relief payments provided by the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020.
- Transfer receipts increased in all states and the District of Columbia, ranging from 64.2 percent in Hawaii to 23.9 percent in Arkansas.
- For the nation, earnings increased 0.3 percent in 2020, the smallest increase since 2009. The percent change in earnings across all states ranged from 5.2 percent in Utah to –6.6 percent in Hawaii.
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