December 17, 2021
State personal income increased 2.6 percent at an annual rate in the third quarter of 2021 after decreasing 20.2 percent in the second quarter. The percent change in personal income across all states ranged from 6.7 percent in the Kentucky to –4.3 percent in North Dakota. Personal income estimates reflect the continued economic impacts related to the COVID-19 pandemic. Government pandemic assistance payments to households and business decreased. The full economic effects of the COVID-19 pandemic cannot be quantified in the state personal income estimates because the impacts are generally embedded in source data and cannot be separately identified.
- For the nation, earnings increased 9.3 percent in the third quarter of 2021. The percent change in earnings across all states ranged from 15.8 percent in Hawaii to –1.6 percent in North Dakota.
- For the nation, transfer receipts decreased 15.6 percent in the third quarter of 2021. The percent change in transfer receipts across all states ranged from 4.1 percent in Kentucky to –25.4 percent in Massachusetts.
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