Personal income, in current dollars, increased in 49 states and the District of Columbia in the second quarter of 2023, with the percent change ranging from 6.1 percent in New York and the District of Columbia to –2.7 percent in Maine.
Earnings increased in 48 states and the District of Columbia, while growing 5.3 percent nationally. The percent change in earnings ranged from 7.1 percent in Florida to –0.8 percent in North Dakota. Earnings was the leading contributor to growth in personal income in 44 states and the District of Columbia.
- Finance and insurance was the leading contributor to the increase in earnings in three states, including New York, the state with the largest percent increase in personal income.
Transfer receipts increased in 38 states and the District of Columbia, while growing 1.7 percent nationally. Increases in Medicaid benefits were partially offset by decreases in all other transfer receipts. The percent change in transfer receipts ranged from 12.1 percent in New York to –23.0 percent in Maine.
- Transfer receipts was the leading contributor to the decrease in personal income in Maine, where one-time state refundable tax credits were paid in the first quarter of 2023.