Recent Updates
- US: International Trade (May)
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Economy in Brief
May JOLTS: Openings, Hiring Slipped, Separations Edged Up
Job openings fell 427,000 in May to 11.254 million...
Euro Area Retail Sales Remain Weak
The graph shows the clear trend of euro area retail sales...
U.S. Factory Orders Rise More Than Expected in May
Total factory orders rose 1.6% m/m (14.0% y/y) in May...
Composite PMIs Step Back But Most Still Show Expansion
The S&P global composite PMIs took a turn for the worse in June...
U.S. ISM Manufacturing Index Falls Back in June to the Lowest Level in Two Years
The ISM U.S. manufacturing PMI fell to 53.0 in June...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Charles Steindel June 22, 2022
Personal incomes growth again varied widely across the states in 2022:Q1, with large differences in both the growth of transfer payments (reflecting idiosyncratic impacts of the wide-down of COVID relief) and net earnings The fastest rate of growth was South Dakota’s 8.5 percent, while the lowest was Hawaii’s 1.3 percent. Growth was fastest in the Great Plains and New England; slowest in the Southwest. The distribution of net earnings was somewhat different. The Plains—aided by sharp increases in farm income--and New England remain the strongest regions there, but the weakest was the Mideast. In the Mideast overall personal income grew at the national average of 4.8 percent. The drop in transfers was less marked than the national average, and the growth of property income was larger. In the Southwest, net earnings growth was greater than the national average, but property income rose less rapidly and transfers fell more.
In other industry detail, the boom in incomes generated in leisure and hospitality was over in the first quarter, with Nevada the only state seeing especially marked gains.