March 29, 2017

Personal Income Has Not Recovered

Even though personal income increased 1.0% in the 2nd Quarter, only two states, Alaska and Maryland, have returned to the level of personal income prior to the recession. Additionally, interest income on property, such as dividends, declined in every state during the 2nd Quarter – reflecting the stagnant housing market. The trend of personal income, as the chart below shows, is nonetheless on the right track, albeit a long and slow one. North Dakota saw the highest increase in personal income with a 2% rise in the 2nd Quarter, while Nevada experienced the smallest increase of .3%, according to the 2nd Quarter income report [.pdf] released today.

US Personal Income Quarter-to-Quarter Percent Change:

While 2nd Quarter income increased the most in 2 years, the economy is still feeble.

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