Personal Income by State, 1st Quarter 2022

State personal income increased 4.8 percent at an annual rate in the first quarter of 2022 after increasing 3.6 percent in the fourth quarter of 2021, according to estimates released today by the U.S. Bureau of Economic Analysis (BEA) (table 1). The percent change in personal income across all states ranged from 8.5 percent in South Dakota to 1.3 percent in Hawaii.

In the first quarter of 2022, increases in earnings and property income (dividends, interest, and rent) more than offset a decrease in transfer receipts (chart 1).

For the nation, earnings increased 8.3 percent in the first quarter of 2022 after increasing 10.3 percent in the fourth quarter (table 2). The increase in earnings reflected the continued economic recovery following the partial economic shutdown that began in the first quarter of 2020 after the start of the COVID–19 pandemic.

• In South Dakota, North Dakota, Iowa, and Idaho, the states with the largest increases in personal income, an increase in farm earnings was the leading contributor to the increase in personal income in the first quarter (table 3).
• In New Hampshire, Vermont, and Massachusetts, an increase in professional, scientific, and technical services was the leading contributor to the increase in personal income in the first quarter (table 3).

Earnings increased in 23 of the 24 industries for which BEA prepares quarterly estimates (table 4). Professional, scientific, and technical services; construction; and administrative and support and waste management and remediation services were the leading contributors to the overall growth in earnings. The percent change in earnings across all states ranged from 13.5 percent in North Dakota to 3.0 percent in Hawaii (table 2).

Property income increased 2.6 percent for the nation in the first quarter of 2022 after increasing 6.5 percent in the fourth quarter. The percent change in property income across all states ranged from 5.2 percent in Utah to 1.0 percent in Rhode Island (table 2).

Transfer receipts decreased 4.5 percent for the nation in the first quarter of 2022 after decreasing 17.6 percent in the fourth quarter. The decrease in transfer receipts was due to decreases in state unemployment insurance compensation and all other transfer receipts partially offset by increases in Social Security, Medicare, and Medicaid benefits. The percent change in transfer receipts across all states ranged from 4.6 percent in Delaware to –11.2 percent in Arizona (table 2).

Original source can be found here.