Personal Income in Second Quarter Grew in All States
State personal income growth, income derived from all sources, accelerated to 1% on average in the second quarter of 2016, compared with 0.3% in the first quarter, according to estimates the U.S. Bureau of Economic Analysis released Sep. 28.
Personal income grew in every state in the second-quarter with rates ranging from a low of 0.4% in Alaska to a high of 1.4% in Utah, the agency reported.
Also, earnings (wages or salaries) increased 1.1% in the second quarter of 2016 and was the leading contributor to growth in personal income in most states.
For example, in Utah, earnings grew 1.5%. Growth in transportation and warehousing earnings was the leading contributor, BEA said.
For the nation, earnings grew in 22 of the 24 industries for which BEA prepares quarterly estimates, the agency reported. Health care, professional services, and transportation and warehousing were the leading contributors to overall growth in personal income.
