The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:
State personal income increased 6.1 percent in 2020 after increasing 3.9 percent in 2019. In 2020, the increase in transfer receipts was the leading contributor to personal income growth in all states and the District of Columbia. The percent change in personal income across all states ranged from 8.4 percent in Arizona and Montana to 2.4 percent in Wyoming.
The full text of the release on BEA’s website can be found at: www.bea.gov/news/2021/state-annual-personal-income-2020-preliminary-and-state-quarterly-personal-income-4th