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45908_1990-1994

45908_1990-1994

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148
SURVEY OF CURRENT BUSINESS
July 1994
Personal Income by State and Region,First Quarter 1994
This article waswritten by HowardL. Friedenberg andDuke D. Tran. Thequarterly estimatesof State personalincome wereprepared by theRegional EconomicMeasurementDivision.
/T\
 ERSONAL INCOME
 in the Nation increased 1.3
1
 percent in the first quarter of 1994 after in-creasing 1.8 percent in the fourth quarter of
 1993.
1
The slowdown mainly reflected the Northridgeearthquake, which struck southern California onJanuary 17.The destruction caused by the earthquake—and the reconstruction and relief efforts thatresulted—affected many components of personalincome in the first quarter. Most of the earth-quake's effects are embedded in the source datathat are used to estimate the components; wherethey are not,
 BEA
 prepared adjustments to ac-count for the effects. The major adjustmentsreduced personal income by $17.5 billion (at anannual rate).
2
 If personal income is calculatedwithout the adjustments for the earthquake's ef-fects and without the adjustments for the floodsin the Midwest and drought in the Southeast inthe third and fourth quarters of
 1993,
 personal in-come would have increased 1.5 percent in the firstquarter after increasing 1.6 percent in the fourth.In the first quarter, personal income declinedin California and in three Plains States. In Cal-ifornia, the
 1.2 percent
 decline largely reflectedthe $17.5 billion of earthquake adjustments; with-out these adjustments, personal income in Cal-ifornia would have increased 1.3 percent. InNorth Dakota, Kansas, and Nebraska, the de-clines reflected a dropoff in Federal wheat subsidypayments from a high level in the fourth quarter.The eight States with the fastest growth inpersonal income were New Mexico, Iowa, Min-nesota, Arizona, Nevada, Utah, New Hampshire,and Louisiana. Most of these States had above-average increases in payrolls in manufacturing, inconstruction, in retail trade, and in services.The remainder of this article looks at thegrowth in State personal income during the
1. These percent changes are not at annual rates.
2.
 The major adjustments were as follows: Rental income of personswas reduced $18.5 billion because of uninsured losses to nonfarm residentialand business property; nonfarm proprietors' income was reduced $1.4 billionbecause of uninsured losses to business property; payrolls were raised $1.0billion mainly because of rescue and cleanup efforts by State and local gov-ernments; and transfer payments to persons were raised $1.4 billion becauseof payments for disaster
 relief.
current recovery and then briefly describes therevisions to the State personal income estimatesfor 1993. Tables 1 and 2 at the end of the articlepresent the quarterly estimates of total and non-farm State personal income beginning with thefirst quarter of
 1991.
Income GrowthDuring the Current Recovery
In the 12 quarters of the recovery since the busi-ness cycle trough in the first quarter of 1991,personal income in the Nation has increased atan annual rate of 5.3 percent. By comparison,personal income increased at annual rates of 7.9percent and 10.9 percent, respectively, in the first12 quarters of the two previous recoveries thatlasted at least as long as the current one.
3
The 5.3-percent annual increase in personal in-come exceeded the 3.0-percent annual increase in
U.S.
 prices (as measured by the fixed-weightedprice index for personal consumption expendi-tures). By State, the annual increase in personalincome exceeded the increase in U.S. prices inall States except California. Personal incomein California increased 3.0 percent; without theearthquake adjustments, personal income wouldhave increased 3.8 percent, still one of the smallestincreases.
Fastest growing States
During the recovery, the increases in personal in-come in the
 11
 fastest growing States ranged from8.9 percent in Idaho to 6.8 percent in Georgiaand Texas (table A). Eight of the 11 States arein the western United States, and the other threeare in the Southeast (chart 1).In Idaho, Nevada, Utah, New Mexico, Col-orado, Montana, Arizona, and Texas, increasesin payrolls were above average in construction,in the transportation-public utilities group, intrade, and in services. In all these States except
3.
 For the two recoveries, the troughs were in the fourth quarter of 1982and in the first quarter of 1975.
July 1994
 
SURVEY OF CURRENT BUSINESS
July 1994
149
Table A.—Average Annual Percent Change In Personal Income for Selected States and the United States 1991:1-1994:1
RankPersonal incomeTotal
Non
farmWage
 and
 salary disbursements (payrolls)Durables
manu-
facturing
Non
durables
manu-
facturing
Con
structionMiningTranspor-tation
 and
publicutilitiesWhole-saletradeRetailtradeFinance,insurance,and realestateServices
Govern-
ment
Fastest growing States:
IdahoNevadaUtahNew MexicoColoradoTennesseeNorth CarolinaMontanaArizonaGeorgia
Texas
United StatesSlowest growing States:
IowaNew YorkPennsylvaniaConnecticutMarylandHawaiiMassachusettsDelawareMaineRhode IslandCalifornia8.98.87.67.57.37.37.17.06.96.86.8
5.3
4.84.84.74.54.44.34.24.24.13.83.0
8.08.77.66.97.27.46.96.36.66.76.6
5.35.74.84.74.44.44.34.24.14.03.82.9
14.612.73.73.22.89.76.16.03.75.44.23.1
6.6
-1.42.5-2.5-2.8-3.2-.76.21.8.7-2.3
3.010.97.05.46.95.75.16.78.55.95.5
4.05.22.82.64.1
1.9
-1.93.0-1.1
1.9
3.92.014.711.313.616.615.96.64.512.811.43.94.8
1.4
7.6-3.8-1.8-1.5-2.5-.7.5-5.0-1.4-8.3-7.0-12.42.32.7
1.4
2.6-.7-9.9-.32.34.4
1.4
5.42.6-6.527.9-7.820.62.8-33.77.8
10.2
.55.07.37.34.4
6.06.0
5.55.04.7
6.1
5.74.25.52.13.81.23.2
1.6
3.73.5.92.93.56.46.84.17.75.54.95.15.4
6.1
4.73.43.23.42.41.9-.71.41.83.0-.5.92.51.4
9.16.810.78.68.59.86.18.57.87.66.74.96.3
1.8
3.9
1.8
2.42.33.14.24.94.0
1.3
9.710.716.29.813.48.69.19.210.98.07.39.07.214.37.88.29.07.49.611.65.03.34.8
8.78.9
10.68.48.79.510.69.57.210.88.07.18.15.75.48.06.53.97.05.74.45.35.6
6.97.53.55.14.33.87.83.54.34.66.6
4.03.82.74.62.92.73.7
1.8
3.4.53.32.4
Total Personal
 Income:
 Average Annual Percent
 Change
1991 :M994:I
 »
•<._•« *•
UNITED STATES 5.3%11 fastest growing StatesI
 I
 11 slowest growing StatesI
 I
 All other States
** •••
 >--t
 ----
July 1994
 
150 •
 uly
 1994
SURVEY OF CURRENT BUSINESSTexas, the increases in construction payrolls ex-ceeded 10.0 percent. In addition, in all exceptIdaho and Colorado, increases in payrolls wereabove average in both durables and nondurablesmanufacturing.In Tennessee, North Carolina, and Georgia, in-creases in payrolls were more than l.o percentagepoint above the U.S. average in all major non-farm industries except the finance-insurance-realestate group and government.
Slowest growing States
tail trade, in services, and in government eitherdeclined or increased at below-average rates.In Hawaii and California, payrolls in all majornonfarm industries either declined or increasedat below-average rates. Reflecting weakness intourism, payrolls in services increased less inHawaii than in any other State. A decline inpayrolls in durables manufacturing in Californiareflected job cutbacks in the aircraft industry.In Iowa, personal income growth was slowedby a large decline in farm income as a resultof crop losses and other damage from the 1993Midwest floods.During the recovery, the increases in personalincome in the 11 slowest growing States rangedfrom 3.0 percent in California to 4.8 percent inNew York and Iowa. Eight of the
 11
 States are inNew England or the Mideast.In New York, Pennsylvania, Connecticut,Maryland, Massachusetts, Delaware, Maine, andRhode Island, payrolls in construction, in thetransportation public-utilities group, and inwholesale trade either declined or increased atbelow-average rates. In addition, in nearly allof these States, payrolls in manufacturing, in re-
Revisions to the State Personal IncomeEstimates
Revisions in the quarterly estimates of Statepersonal income for 1993, which are shown intable B, were small. The revisions reflect theincorporation of fourth-quarter tabulations ofwages and salaries of employees covered by un-employment insurance (ui) from the Bureau ofLabor Statistics, revisions to the State allocationsof the new national control totals that resultfrom the introduction of the fourth-quarter ui
Table B.Revisions
 in
 1993 Total Personal Income
 for
 States and Regions
[Millions
 of
 dollars, seasonally adjusted
 at
 annual rates]State and region1993State and region1993
IIV
United States
 ...
New England
ConnecticutMaineMassachusettsNew HampshireRhode IslandVermont
Mideast
DelawareDistrict
 of
 ColumbiaMarylandNew JerseyNew YorkPennsylvania
Great Lakes
IllinoisIndianaMichiganOhioWisconsin
Plains
IowaKansasMinnesotaMissouriNebraskaNorth DakotaSouth Dakota
Southeast
AlabamaArkansasFloridaGeorgiaKentucky
-12152
11-11528-20
1,020
49-10-88-841,041114313-84180853
3
15-15377-47-17-13
-660
-961-401-18-4
-186723
591-51320
3,012
20-28-124449
2,734-39
368
61359410528
-387
-35-44-156-68-34-28-21
-961
-510
-428
-14714
-225542
405-18179-3-15
-6
3,236
30-27-206783,276
824
762413348983
-297
-66-6336-77-59-32-37
-760
16358-529-124-109
-172-1,296
282-234-1,115-87
-79-62
1,510
-13527
163-€053,214-1,154
1,667
-6777-6811,435141
183
31220-733
398
21051-76
-2,955
15417-2,354-214135LouisianaMississippiNorth CarolinaSouth CarolinaTennesseeVirginia
|
 West Virginia
Southwest
ArizonaNew MexicoOklahomaTexas
Rocky Mountain
ColoradoIdahoMontana
 ,
UtahWyoming
Far West
AlaskaCaliforniaHawaiiNevadaOregonWashington
Census Divisions:
New EnglandMiddle AtlanticEast North CentralWest North CentralSouth AtlanticEast South CentralWest South CentralMountainPacific-50-10511-21-57-22
-553
-156-40-43
-314
-71
-35-4-16-7
-381
-9-211-57-526-58521,0714693-531-131-404-320-329
-133-8208
-10-231-50
-710
-146-62-68-434
-293
-162-19-38-40-34
-1,940
-1,407-127-114
-63
-1857233,144368-387-960-9
-624
-616-1,825-179-1411530-44-215-66
-982
-114-122
-90-655
-254
-139-24-34-29-28
-2,532
-53-1,981-121-168-124-875423,441824-297-992-150-568-658-2,365-563-321-302-2341,303-551-284
1,795
227-283681,228
281
40539-6
-99-57
-1,359
-30-1,051
-316
-14367115-1,2961,4561,667183-3,8851,1311,450337-1,215
July 1994

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