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BEA: State Personal Income 2010

Full release and tables: “State personal income rose an average 3.0 percent in 2010 after falling 1.7 percent in 2009, according to estimates released today by the U.S. Bureau of Economic Analysis. State personal income growth ranged from 0.3 percent in Nevada to 4.2 percent in New Mexico. Inflation, as measured by the national price index for personal consumption expenditures, increased to 1.7 percent in 2010 from 0.2 percent in 2009. All three major components of personal income (earnings, property income, and personal current transfer receipts) grew in 2010. In 2009 only transfers grew as lower employment reduced earnings and lower interest rates and profits reduced property income (dividends, interest, and rent). The 7.6 percent growth of transfer receipts in 2010 was larger than the 2.4 percent growth of earnings and the 0.6 percent growth of property income.”

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