State personal income grew 0.9 percent on average in the second quarter of 2015, after growing 0.8 percent in the first quarter, according to estimates released today by the U.S. Bureau of Economic Analysis. Personal income grew in every state except Oklahoma in the second quarter. In the first quarter, personal income grew in 34 states. Second-quarter personal income growth rates ranged from zero in Oklahoma to 1.5 percent in the state of Washington.
Earnings. Overall, earnings increased 0.6 percent in the second quarter of 2015, after increasing 0.4 percent in the first quarter.
Earnings declined in the second quarter in six of the 24 industries for which BEA prepares quarterly estimates, including mining—which declined 3.6 percent—and durable goods manufacturing—which declined 0.4 percent (see Table 5). This was the second consecutive decline for both industries.View Article