In the first quarter of 2021, more than half of all states recorded the strongest personal income growth on record. If not for stimulus from all levels of government, however, 19 states would have experienced declines in personal income, as shown on the map above.
See: Cities and towns are about to get $65 billion in stimulus from Washington. Here’s what to know about the American Rescue Plan In the first three months of this year, nearly all states recorded double-digit growth in total personal income versus the same period in 2020. Those gains ranged from 19.8% in Utah to 9.4% in Wyoming. Nationally, Americans’ personal income from all sources rose an inflation-adjusted 14.4%, “the largest year-over-year growth rate since reporting of this key economic indicator began in 1948,” the report says.
So a recession or a depression when governments, and the Fed, stop handing out free money? (Who am I kidding.... they’ll never stop!)
Incomes should fall when you’re not working
Who would have thought ? Genius !!
Mostly democratic states
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