March 23, 2022
State personal income increased 7.4 percent in 2021 after increasing 6.6 percent in 2020. In 2021, increases in earnings, transfer receipts, and property income (dividends, interest, and rent) contributed to personal income growth in all states and the District of Columbia. The percent change in personal income across all states ranged from 9.6 percent in Idaho to 4.5 percent in Vermont.
- Earnings increased 8.9 percent, accounting for most of the $1.4 trillion dollar increase in personal income for the nation in 2021.
- The increase in earnings reflected the continuing reopening of the economy following the onset of the COVID-19 pandemic in the first quarter of 2020.
- The percent change in earnings across all states ranged from 12.2 percent in New Hampshire to 3.5 percent in Alaska.
- Transfer receipts increased 8.4 percent for the nation in 2021 after increasing 35.1 percent in 2020. Transfer receipts increased in all states and the District of Columbia, ranging from 18.1 percent in Alaska to 1.2 percent in Vermont.
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