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Economy in Brief

State Personal Income in Q1 2022
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.

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