We can’t let a Friday go by without something Employment/Income related. Hence, this lovely BEA chart, showing changes in personal income by state:
The data for Q1 — yes, it is both old and lagging — is still stunning nonetheless: 74% of the states showed a drop in Personal Income.
Personal Income Changes, by State
UPDATE: June 22 2009 6:23am
David Rosenberg writes:
“As an aside, the U.S. Commerce Department also released state-by-state income data yesterday for 1Q and found that personal income deflated in 37 states. That is a very generous assessment since whatever income there was reflected government benefits like food stamps, unemployment insurance and welfare. Income derived from the private sector — remember that part of the economy? — actually contracted in all 50 states.
Whatever shoot that is, it definitely is not green.”
PERSONAL INCOME AND OUTLAYS
BEA, April 2009
Personal Income Drops in 37 States
Real Time Economics, June 18, 2009, 9:34 AM ET