Date:
10/16/2009
Information Contact 1:
Bob Fick :
(208) 332-3570 ext 3628 :
Information Contact 2:
Georgia Smith :
(208) 841-5509 :
Idaho Personal Income Edges Higher in Second Quarter
Personal income in Idaho rose fractionally this spring, ending three straight quarters of decline.
The U.S. Bureau of Economic Analysis on Friday estimated Idaho's personal income – the total of all wages, business owner profits, investment earnings and transfer payments like Social Security and jobless benefits – for the April-June quarter at just over $48.9 billion, on an annualized basis. That was up 0.4 percent from the first three months of the year – twice the growth rate for the nation – but still more than 3 percent below a peak of $50.7 billion in the spring quarter of 2008.
Idaho’s quarter-to-quarter growth rate ranked 23rd nationally, but the 3.4 percent decline from a year earlier was deeper than all but six other states.
The bureau also significantly increased the estimates for personal income in 2006, 2007 and 2008, revising the 2008 total to $50.4 billion to mark the first time Idaho has crossed the $50 billion mark.
More than $182 million in state and federal unemployment insurance benefits was injected into Idaho's economy during the second quarter of this year. The government annualized that amount to $272 million. That was on top of Social Security and other government payments totaling $522 million, and the combination was enough to offset a decline from of the first quarter of over $600 million, annualized, in wages, business profits and investment earnings.
Since January, Idaho has paid out over $500 million in state and federal unemployment insurance benefits.
Health care and agriculture were the only private sectors in the economy that saw growth in wages and profits. Construction and manufacturing, which have been the hardest hit sectors of the Idaho economy during the recession, recorded the biggest slides in payroll and profits.
A state-by-state personal income table follows.
|
Quarterly Personal Income By State
|
|
(annualized in millions)
|
| |
Q2 2009
|
Q1 2009
|
Q2 2008
|
Q2-Q1 Chg
|
Q2-Q2 Chg
|
|
United States
|
$11,959,177
|
$11,939,330
|
$12,275,276
|
0.2%
|
-2.6%
|
|
Alabama
|
$155,216
|
$154,463
|
$159,375
|
0.5%
|
-2.6%
|
|
Alaska
|
$28,631
|
$28,625
|
$30,148
|
0.0%
|
-5.0%
|
|
Arizona
|
$217,282
|
$217,431
|
$224,710
|
-0.1%
|
-3.3%
|
|
Arkansas
|
$91,313
|
$91,686
|
$93,391
|
-0.4%
|
-2.2%
|
|
California
|
$1,560,637
|
$1,566,963
|
$1,613,949
|
-0.4%
|
-3.3%
|
|
Colorado
|
$207,312
|
$207,971
|
$212,636
|
-0.3%
|
-2.5%
|
|
Connecticut
|
$189,238
|
$189,505
|
$197,150
|
-0.1%
|
-4.0%
|
|
Delaware
|
$35,010
|
$34,804
|
$35,460
|
0.6%
|
-1.3%
|
|
DC
|
$37,491
|
$37,472
|
$39,033
|
0.1%
|
-4.0%
|
|
Florida
|
$699,006
|
$700,147
|
$725,745
|
-0.2%
|
-3.7%
|
|
Georgia
|
$329,602
|
$329,695
|
$341,274
|
0.0%
|
-3.4%
|
|
Hawaii
|
$54,179
|
$53,902
|
$54,409
|
0.5%
|
-0.4%
|
|
Idaho
|
$48,944
|
$48,750
|
$50,687
|
0.4%
|
-3.4%
|
|
Illinois
|
$531,875
|
$531,346
|
$547,667
|
0.1%
|
-2.9%
|
|
Indiana
|
$216,845
|
$215,660
|
$221,410
|
0.5%
|
-2.1%
|
|
Iowa.
|
$112,524
|
$111,233
|
$112,081
|
1.2%
|
0.4%
|
|
Kansas
|
$105,746
|
$105,532
|
$108,921
|
0.2%
|
-2.9%
|
|
Kentucky
|
$133,310
|
$132,046
|
$137,979
|
1.0%
|
-3.4%
|
|
Louisiana
|
$158,689
|
$158,964
|
$161,532
|
-0.2%
|
-1.8%
|
|
Maine
|
$47,738
|
$47,280
|
$48,034
|
1.0%
|
-0.6%
|
|
Maryland
|
$274,841
|
$274,140
|
$272,821
|
0.3%
|
0.7%
|
|
Massachusetts
|
$326,779
|
$325,697
|
$333,244
|
0.3%
|
-1.9%
|
|
Michigan
|
$339,105
|
$336,475
|
$351,594
|
0.8%
|
-3.6%
|
|
Minnesota
|
$218,151
|
$218,035
|
$223,571
|
0.1%
|
-2.4%
|
|
Mississippi.
|
$88,331
|
$87,845
|
$91,032
|
0.6%
|
-3.0%
|
|
Missouri
|
$213,097
|
$212,327
|
$216,344
|
0.4%
|
-1.5%
|
|
Montana
|
$32,982
|
$32,864
|
$33,540
|
0.4%
|
-1.7%
|
|
Nebraska
|
$68,480
|
$68,693
|
$69,989
|
-0.3%
|
-2.2%
|
|
Nevada
|
$101,760
|
$102,313
|
$107,603
|
-0.5%
|
-5.4%
|
|
New Hampshire
|
$56,330
|
$56,229
|
$57,557
|
0.2%
|
-2.1%
|
|
New Jersey
|
$435,572
|
$434,372
|
$445,139
|
0.3%
|
-2.1%
|
|
New Mexico
|
$66,213
|
$65,792
|
$66,782
|
0.6%
|
-0.9%
|
|
New York
|
$903,569
|
$902,079
|
$951,191
|
0.2%
|
-5.0%
|
|
North Carolina
|
$321,404
|
$320,054
|
$328,309
|
0.4%
|
-2.1%
|
|
North Dakota
|
$25,531
|
$25,143
|
$25,304
|
1.5%
|
0.9%
|
|
Ohio.
|
$407,908
|
$405,664
|
$416,038
|
0.6%
|
-2.0%
|
|
Oklahoma
|
$128,958
|
$128,841
|
$131,680
|
0.1%
|
-2.1%
|
|
Oregon
|
$136,242
|
$135,623
|
$138,216
|
0.5%
|
-1.4%
|
|
Pennsylvania
|
$496,361
|
$493,617
|
$501,405
|
0.6%
|
-1.0%
|
|
Rhode Island
|
$43,026
|
$42,698
|
$43,477
|
0.8%
|
-1.0%
|
|
South Carolina
|
$144,885
|
$143,874
|
$147,748
|
0.7%
|
-1.9%
|
|
South Dakota
|
$30,000
|
$30,074
|
$30,967
|
-0.2%
|
-3.1%
|
|
Tennessee
|
$217,072
|
$215,819
|
$219,125
|
0.6%
|
-0.9%
|
|
Texas
|
$903,721
|
$903,080
|
$924,319
|
0.1%
|
-2.2%
|
|
Utah.
|
$85,594
|
$85,776
|
$87,955
|
-0.2%
|
-2.7%
|
|
Vermont
|
$23,794
|
$23,574
|
$23,995
|
0.9%
|
-0.8%
|
|
Virginia
|
$340,692
|
$339,761
|
$344,077
|
0.3%
|
-1.0%
|
|
Washington
|
$277,386
|
$276,037
|
$280,398
|
0.5%
|
-1.1%
|
|
West Virginia
|
$58,884
|
$58,157
|
$57,436
|
1.3%
|
2.5%
|
|
Wisconsin
|
$206,953
|
$205,974
|
$213,049
|
0.5%
|
-2.9%
|
|
Wyoming
|
$24,970
|
$25,229
|
$25,780
|
-1.0%
|
-3.1%
|
|
Source: U.S. Bureau of Economic Analysis
|
|