The annual state income for 2009 data was released yesterday with an annual average drop of -1.7% from 2008 and dropped in 42 states.
State personal income declined an average 1.7 percent in 2009, according to estimates released today by the U.S. Bureau of Economic Analysis. The annual percentage change in state personal income ranged from -4.8 percent in Nevada to 2.1 percent in West Virginia (one of six states with a personal income gain in 2009). Inflation, as measured by the national price index for personal consumption expenditures, fell to 0.2 percent in 2009 down from 3.3 percent in 2008.
The per capita income is even worse, -2.6% with an average of $39,138.
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