Date: September 25, 2019
In the second quarter 2019, state personal income rose 5.4% at an annual rate relative to a 6.2% increase in the first quarter according to estimates released by Bureau of Economic Analysis (BEA). The BEA also noted, “the percent change in personal income across all states ranged from 7.5% in Texas to unchanged in North Dakota.”
Earnings.
Earnings climbed 4.4% in the second quarter of 2019, after rising 8.1% in the first quarter.
The leading contributors to the nation’s overall growth in earnings were professional, scientific, and technical services; finance and insurance; and state and local government.
Property income.
In the second quarter of 2019, property income rose 8% for the nation after falling 4.6% in the first quarter. Moreover, in every state, property income climbed ranging from 10.5% in Utah and New York to 4.7% in Alaska.
Transfer receipts.
Transfer receipts rose 6.1% for the nation in the second quarter of 2019, versus a 15.4% increase in the previous quarter. Furthermore, transfer receipts increased ranging from 10.6% in Alaska to 0.1% in Connecticut.
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