Personal Income by State - Graph from BEA (wonkish)

U.S. personal income slowed sharply in the third quarter with all states, except New Jersey and Wyoming, sharing in the slowdown. (The quote is from the BEA website.)

Quite an interesting analysis by the Bureau of Economic Analysis on Personal Income by state.  They have actually done a separate analysis without the "Economic Stimulus" during the second and third quarters of 2008.  Why? you might ask.  Well, when a stimulus or the like spans more than one quarter, changes are masked by the affects of the increase during one quarter and the decrease in the next that is just due to the stimulus.  See the BEA website pages here for further discussion. 

The graph below shows changes WITH the economic stimulus and only changes for the third quarter.  As they state: "State personal income growth rates in the third quarter ranged from a 1.4 percent increase in Wyoming to a 1.6 percent decrease in Mississippi." 

    

Without the Economic Stimulus, for the U.S. as a whole, personal income fell by 0.4% in the second quarter and 0.3% during the third, in real dollars.  Real dollars means after inflation calculated using the personal consumption expenditures price index.  Of course, we know that the only thing that matters is "MY" personal income, as that is what "I" have to live on (speaking of yourself).
 

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