State personal income decreased 21.8 percent at an annual rate in the second quarter of 2021 after increasing 56.9 percent in the first quarter. In the second quarter of 2021, the decrease in transfer receipts was the leading contributor to personal income declines in all 50 states and the District of Columbia. The percent change in personal income across all states ranged from –10.1 percent in the District of Columbia to –34.0 percent in West Virginia.
- Transfer receipts decreased $1.7 trillion for the nation in the second quarter of 2021, accounting for more than the entire $1.3 trillion decrease in personal income.
- The decrease in transfer receipts primarily reflected a reduction in direct economic impact payments provided by the Coronavirus Response and Relief Supplemental Appropriations Act and the American Rescue Plan Act and a decrease in state unemployment insurance compensation.
- Transfer receipts decreased in every state, ranging from –$2.5 billion in the District of Columbia to –$185.6 billion in California.
- For the nation, earnings increased 10.7 percent in the second quarter of 2021. The percent change in earnings across all states ranged from 1.8 percent in New Hampshire to 24.6 percent in North Dakota.
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