Personal Income Rose in 2021, But Growth Varied by State

Link: https://www.pewtrusts.org/en/research-and-analysis/articles/2022/05/13/personal-income-rose-in-2021-but-growth-varied-by-state

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Excerpt:

Total personal income climbed in every state during the second year of the COVID-19 pandemic as the economy continued to recover, with Idaho and South Dakota experiencing the strongest gains. Americans’ earnings from work, which account for the bulk of personal income, recorded the sharpest annual increase in over two decades. Federal aid and other public assistance also added to states’ gains, surpassing 2020’s elevated levels.

Total personal income rose across states in 2021 as the economy largely followed an upward trajectory after severe losses early in the pandemic. Nationally, the sum of personal income from all sources was up 3.1% from 2020, after accounting for inflation.

Author(s): Mike Maciag, Joanna Biernacka-Lievestro & Joe Fleming

Publication Date: 13 May 2022

Publication Site: Pew Trust