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FOR WIRE TRANSMISSION: 9:00 A.M. EST, FRIDAY, JANUARY 24, 2003
John R. Kort: (202) 606–9221 (Analysis) BEA 03—01
Marian Sacks: 606–9274 (Estimates)
E-mail inquiries: RegRelease@bea.gov

STATE PERSONAL INCOME: THIRD QUARTER 2002

Personal income for the nation grew 0.9 percent in the third quarter of 2002, down from increases of 1.2 percent in the prior two quarters of 2002, according to estimates released today by the U.S. Bureau of Economic Analysis. This third-quarter growth is 0.5 percentage point less than the 1.4-percent average increase during the 1990's expansion.

Despite the national slowdown in growth, one-half of the states experienced the same or faster growth in the third quarter relative to the second. Several large states, including California, New York, Texas, and Illinois, experienced slower third quarter growth. Growth ranged from 1.5 percent in Montana to 0.5 percent in Michigan. States with the highest growth rates have grown faster than average in five of the last six quarters.

 

Map of States showing personal income, percent change 2002:II-2002:III

The slowdown in personal income, which is only available in current dollars, reflected a downturn in rental income and decelerations in transfer payments and interest income. An upturn in farm proprietors' income and a small step-up in wage and salary disbursements partly offset slower growth in these other components.

Personal Income Growth by Component

Net earnings grew 1.1 percent in the third quarter nationally, compared with 0.8 percent in the second. All states showed an increase in net earnings in the third quarter, with 37 states recording faster growth in the third quarter compared with the second. In contrast, 14 states experienced a decline in net earnings in the second quarter.

Transfer payments grew at a slower rate in the third quarter than at any time since the third quarter of 2000. Only three states — California, Vermont, and Alaska — experienced faster growth in transfer payments in the third quarter 2002 compared with the second. The general slowdown in transfer payments can be attributed in part to a significant deceleration in state unemployment insurance benefits, as the unemployment rate dipped to 5.7 percent in the third quarter from 5.9 percent in the second. State unemployment insurance benefits declined in 37 states. However, a handful of states experienced unemployment benefit increases with relatively large impacts on total state personal income. These states included California, Oregon, Washington, Vermont and New Jersey. Except for Vermont, these states had increases in extended benefits, which are available to workers who have exhausted regular unemployment insurance benefits during periods of high unemployment.

Property income (dividends, interest and rent) declined by 0.2 percent in the third quarter nationally, compared with an increase of 1.9 percent in the second. In all states, rent and interest income declined, but dividend income increased. The downturn in rental income reflected an upturn in expenses, specifically closing costs associated with mortgage originations, spurred by record refinancing in the quarter. Lower interest income reflected lower short- and long-term interest rates.

Earnings Growth by Industry

Nationally, services, government, and finance, insurance, and real estate contributed 0.8 of the 1.1 percent growth in earnings in the third quarter. Earnings growth in services contributed the most to personal income growth in 34 states, and in most of the others, earnings growth in government was the major contributor. In Idaho, New Mexico, Wyoming, and North Dakota, farming was the major contributor, while in Nebraska, it was nondurable goods manufacturing earnings. Earnings increased in most industries and states, except for manufacturing, where earnings in durable goods declined in 19 states and earnings in nondurable goods declined in 14 states. Notable among the durable goods earnings declines are Michigan, Mississippi, and Connecticut. In general, the remaining industries contributed little to total net earnings growth among the states.

Pie chart showing industry percent contributions to net earnings growth

Recent Trends in State Personal Income Growth

Because quarter-to-quarter changes in state personal income are subject to large swings, it is also useful to look at the change in state personal income in the current quarter relative to the same quarter a year ago. Table 5 and the figure below show the year-over-year growth in quarterly state personal income from the fourth quarter of 1999 through the third quarter of 2002.

U.S. personal income increased 3.3 percent from the third quarter of 2001 to the third quarter of 2002, up from an increase of 2.7 percent from 2001:II-2002:II. After peaking at an 8.7 percent annual increase in the third quarter of 2000, the annual change in U.S. personal income declined through the end of 2001 and then began increasing. Similar growth trends are evident for the top- and bottom-growth quintile states, where the quintiles are based on ranks in third-quarter 2002 income growth (see map). However, these third-quarter 2002 high-growth states have not always out-performed others. While growth in personal income has been higher in the top-quintile states than in the bottom-quintile states since the fourth quarter of 2000, prior to that, the top-quintile states experienced slower-than-average growth.

Line graph showing personal income growth from previous year's quarter

Relative to second quarter changes, 38 states experienced accelerations in state personal income from the third quarter of 2001 to the third quarter of 2002. Growth from 2001:III to 2002:III ranged from 5.2 percent in Nebraska to 1.9 percent in New York, Connecticut and Colorado. Annual personal income growth was the strongest since the second quarter of 2001, roughly the beginning of the recession.

Note to our Readers: In recent years, BEA's State Personal Income news releases have emphasized the fastest- and slowest-growing states and have described developments in those states. We are departing from that practice in this release, although growth ranks for 2002:II-2002:III are shown in table 1 and the growth quintiles are shown on the map on page 1. We would like to know what you think about this content change and, more generally, what you would like to see in future releases. In addition, if you would like to receive these releases by e-mail shortly after their 9:00 AM release time, let us know.

Please e-mail your comments to BEA's Associate Director for Regional Economics, Dr. John W. Ruser, at RegRelease@bea.gov. Thank you.

Definitions

Personal income is the income received by all persons from participation in production, from government and business transfer payments, and from government interest. Personal income is the sum of net earnings by place of residence, rental income of persons, personal dividend income, personal interest income, and transfer payments. Net earnings is earnings by place of work — the sum of wage and salary disbursements (payrolls), other labor income, and proprietors' income — less personal contributions for social insurance, plus an adjustment to convert earnings by place of work to a place-of-residence basis. Personal income is measured before the deduction of personal income taxes and other personal taxes and is reported in current dollars (no adjustment is made for price changes).

The estimate of personal income in the United States is derived as the sum of the state estimates; it differs from the estimate of personal income in the national income and product accounts (NIPA's) because of differences in coverage, in the methodologies used to prepare the estimates, and in the timing of the availability of source data.

BEA groups all 50 states and the District of Columbia into eight distinctive regions for purposes of data collecting and analyses: New England (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont); Mideast (Delaware, District of Columbia, Maryland, New Jersey, New York, and Pennsylvania); Great Lakes (Illinois, Indiana, Michigan, Ohio, and Wisconsin); Plains (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota); Southeast (Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia; Southwest (Arizona, New Mexico, Oklahoma, and Texas); Rocky Mountain (Colorado, Idaho, Montana, Utah, and Wyoming); and Far West (Alaska, California, Hawaii, Nevada, Oregon, and Washington).


BEA's major national, international, regional, and industry estimates; the Survey of Current Business; and BEA news releases are available without charge on BEA's Web site:

Summary BEA estimates are available on recorded messages at the time of public release at the following telephone numbers:

                    (202) 606-5306 Gross domestic product
                          606-5303 Personal income and outlays
                          606-5362 U.S. international transactions

Most of BEA's estimates and analyses are published in the Survey of Current Business, BEA's monthly journal. Subscriptions and single copies of the printed Survey are for sale by the Superintendent of Documents, U.S. Government Printing Office. Internet: bookstore.gpo.gov; phone: 202-512-1800; fax: 202-512-2250; mail: SSOP, Washington, DC 20402-0001.


Next state personal income release — April 23, 2003, at 9:00 AM EDT for
State Personal Income: 4th Quarter 2002 and Preliminary Personal and Per Capita Income, 2002.

 
                                            Table 1. -- Personal Income, by State and Region, 2001:II-2002:III
                                                [Millions of dollars, seasonally adjusted at annual rates]

 ---------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                           Rank
                                             2001                             2002             Percent change from preceding quarter/1/  based on
                              -------------------------------  ------------------------------- ----------------------------------------- 2002:II-
                                  II         III        IV          I/r/      II/r/     III/p/   2001:IV  2002:I  2002:II  2002:III      2002:III/2/
 ---------------------------------------------------------------------------------------------------------------------------------------------------

 United States .............. 8,669,921  8,697,999  8,692,940  8,794,858  8,904,317  8,984,227     -0.1     1.2      1.2       0.9

  New England
     Connecticut ............   145,566    145,221    144,408    145,916    146,949    147,969      -.6     1.0       .7        .7         42
     Maine ..................    34,276     34,443     34,608     35,390     35,641     36,057       .5     2.3       .7       1.2          9
     Massachusetts ..........   248,478    247,285    246,759    248,342    252,490    254,029      -.2      .6      1.7        .6         44
     New Hampshire ..........    42,993     42,966     42,965     43,243     44,158     44,627      0        .6      2.1       1.1         15
     Rhode Island ...........    31,865     32,200     32,049     32,947     33,215     33,399      -.5     2.8       .8        .6         47
     Vermont ................    17,500     17,583     17,662     17,864     17,986     18,202       .5     1.1       .7       1.2          6

   Mideast
     Delaware ...............    25,796     26,072     25,972     26,598     26,594     26,846      -.4     2.4      0          .9         28
     District of Columbia ...    23,036     22,972     23,019     23,383     23,803     23,982       .2     1.6      1.8        .7        ---
     Maryland ...............   188,899    189,959    190,170    193,805    196,235    198,130       .1     1.9      1.3       1.0         23
     New Jersey .............   325,753    327,663    327,982    334,061    334,624    337,930       .1     1.9       .2       1.0         20
     New York ...............   683,235    683,650    683,421    677,906    691,539    696,973      0       -.8      2.0        .8         36
     Pennsylvania ...........   376,868    378,925    377,825    386,342    389,668    393,136      -.3     2.3       .9        .9         30

   Great Lakes
     Illinois ...............   411,340    413,747    411,479    414,510    420,811    423,819      -.5      .7      1.5        .7         41
     Indiana ................   169,454    170,505    170,282    172,151    174,730    176,624      -.1     1.1      1.5       1.1         12
     Michigan ...............   297,595    298,898    297,954    297,220    305,693    307,213      -.3     -.2      2.9        .5         50
     Ohio ...................   327,376    329,274    328,568    332,418    336,642    338,454      -.2     1.2      1.3        .5         48
     Wisconsin ..............   157,802    158,761    158,613    160,884    162,143    164,163      -.1     1.4       .8       1.2          5

   Plains
     Iowa ...................    79,761     80,123     80,046     81,898     82,108     82,736      -.1     2.3       .3        .8         38
     Kansas .................    76,689     77,419     77,296     79,462     79,978     80,917      -.2     2.8       .7       1.2          7
     Minnesota ..............   164,370    165,031    164,912    166,762    168,282    169,751      -.1     1.1       .9        .9         31
     Missouri ...............   158,423    159,641    159,673    161,952    162,461    163,320      0       1.4       .3        .5         49
     Nebraska ...............    49,299     49,751     49,933     51,522     51,799     52,357       .4     3.2       .5       1.1         14
     North Dakota ...........    16,370     16,565     16,481     17,065     16,875     17,049      -.5     3.5     -1.1       1.0         18
     South Dakota ...........    20,093     20,326     20,378     20,711     20,946     21,119       .3     1.6      1.1        .8         33

   Southeast
     Alabama ................   109,740    110,160    110,182    111,555    112,688    113,648      0       1.2      1.0        .9         32
     Arkansas ...............    61,380     61,843     62,186     63,049     63,910     64,421       .6     1.4      1.4        .8         34
     Florida ................   474,193    477,155    478,044    485,585    492,866    500,141       .2     1.6      1.5       1.5          2
     Georgia ................   240,495    241,700    242,091    245,543    248,863    250,507       .2     1.4      1.4        .7         43
     Kentucky ...............   100,934    101,980    101,801    103,113    104,149    105,594      -.2     1.3      1.0       1.4          4
     Louisiana ..............   108,827    110,406    111,263    112,952    113,808    114,894       .8     1.5       .8       1.0         26
     Mississippi ............    61,969     62,278     62,611     63,840     64,321     64,798       .5     2.0       .8        .7         40
     North Carolina .........   225,430    225,125    224,959    229,957    230,465    233,155      -.1     2.2       .2       1.2          8
     South Carolina .........   100,766    101,537    101,249    102,993    104,114    105,109      -.3     1.7      1.1       1.0         25
     Tennessee ..............   154,840    155,587    155,165    158,508    160,626    162,073      -.3     2.2      1.3        .9         29
     Virginia ...............   234,189    233,312    234,224    234,810    239,063    241,423       .4      .3      1.8       1.0         21
     West Virginia ..........    41,096     41,403     41,651     42,288     42,543     42,783       .6     1.5       .6        .6         46

   Southwest
     Arizona ................   137,088    138,817    137,895    140,427    142,207    143,711      -.7     1.8      1.3       1.1         16
     New Mexico .............    42,070     42,709     43,092     43,917     44,290     44,774       .9     1.9       .8       1.1         11
     Oklahoma ...............    86,432     87,104     87,460     88,536     89,110     90,041       .4     1.2       .6       1.0         17
     Texas ..................   607,435    610,014    611,359    615,587    622,865    627,503       .2      .7      1.2        .7         39

   Rocky Mountain
     Colorado ...............   148,167    147,797    147,150    147,976    149,711    150,579      -.4      .6      1.2        .6         45
     Idaho ..................    32,484     32,697     32,684     33,478     33,362     33,684      0       2.4      -.3       1.0         24
     Montana ................    21,633     21,947     21,726     22,001     22,260     22,589     -1.0     1.3      1.2       1.5          1
     Utah ...................    54,918     55,070     55,267     55,911     56,191     56,799       .4     1.2       .5       1.1         13
     Wyoming ................    14,445     14,681     14,831     15,155     15,218     15,440      1.0     2.2       .4       1.5          3

   Far West
     Alaska .................    19,650     19,780     19,798     20,327     20,470     20,664       .1     2.7       .7        .9         27
     California ............. 1,128,323  1,126,393  1,126,948  1,138,909  1,155,581  1,166,906      0       1.1      1.5       1.0         22
     Hawaii .................    35,411     35,684     35,569     36,579     37,068     37,355      -.3     2.8      1.3        .8         37
     Nevada .................    63,059     63,712     62,781     64,337     64,888     65,399     -1.5     2.5       .9        .8         35
     Oregon .................    97,723     97,903     97,851     99,344    100,669    101,820      -.1     1.5      1.3       1.1         10
     Washington .............   194,386    192,225    190,644    195,831    197,643    199,614      -.8     2.7       .9       1.0         19

 BEA regions
   New England ..............   520,678    519,699    518,451    523,703    530,439    534,283      -.2     1.0      1.3        .7         --
   Mideast .................. 1,623,587  1,629,240  1,628,390  1,642,094  1,662,463  1,676,997      -.1      .8      1.2        .9         --
   Great Lakes .............. 1,363,568  1,371,186  1,366,898  1,377,183  1,400,019  1,410,273      -.3      .8      1.7        .7         --
   Plains ...................   565,003    568,855    568,720    579,372    582,449    587,249      0       1.9       .5        .8         --
   Southeast ................ 1,913,861  1,922,486  1,925,425  1,954,192  1,977,416  1,998,546       .2     1.5      1.2       1.1         --
   Southwest ................   873,026    878,644    879,806    888,468    898,471    906,030       .1     1.0      1.1        .8         --
   Rocky Mountain ...........   271,647    272,192    271,659    274,520    276,742    279,092      -.2     1.1       .8        .8         --
   Far West ................. 1,538,552  1,535,698  1,533,591  1,555,326  1,576,318  1,591,757      -.1     1.4      1.3       1.0         --
 ---------------------------------------------------------------------------------------------------------------------------------------------------
   r Revised.
   p Preliminary.
   1. Percent changes are expressed at quarterly rates.
   2. Ranks based on unrounded growth rates.
   Note: Estimates may not add to totals because of rounding.
   Source: U.S. Bureau of Economic Analysis


                             Table 2. -- Personal Income by Component, by State and Region, 2002:III
                                                           [Seasonally adjusted]

---------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                  Contribution to percent
                                                                                  change in personal income
                                           Percent change                            (percentage points)           Dollar change (millions)/2/
                                ------------------------------------             ----------------------------  ------------------------------------
                                                     Divi-              Percent               Divi-                                 Divi-
                                                     dends,   Trans-    change in             dends,   Trans-                       dends,   Trans-
                                Personal   Net       inter-   fer       personal    Net       inter-   fer     Personal   Net       inter-   fer
                                 income    earn-     est,     pay-      income      earn-     est,     pay-     income    earn-     est,     pay-
                                           ings/1/   and      ments                 ings/1/   and      ments              ings/1/   and      ments
                                                     rent                                     rent                                  rent
---------------------------------------------------------------------------------------------------------------------------------------------------

United States ..............        0.9       1.1     -0.2      1.2          0.9      0.77    -0.04     0.18    79,910    68,130   -3,988   15,768

   New England
     Connecticut ............         .7       1.0      -.3       .6           .7       .68     -.05      .07     1,020     1,000      -79       97
     Maine ..................        1.2       1.6      -.1      1.1          1.2      1.00     -.02      .19       416       358       -9       67
     Massachusetts ..........         .6        .8      -.3       .9           .6       .54     -.06      .13     1,539     1,370     -148      317
     New Hampshire ..........        1.1       1.5      -.3       .8          1.1      1.03     -.05      .08       469       456      -23       37
     Rhode Island ...........         .6        .7      -.4       .8           .6       .47     -.07      .16       184       156      -23       51
     Vermont ................        1.2       1.2      0        2.7          1.2       .78     0         .43       216       139       -1       77

   Mideast
     Delaware ...............         .9       1.3      -.4      1.0           .9       .91     -.09      .12       252       242      -23       33
     District of Columbia ...         .7       1.1      -.3       .5           .7       .74     -.06      .07       179       177      -14       16
     Maryland ...............        1.0       1.3      -.4      1.2          1.0       .92     -.08      .12     1,895     1,805     -153      243
     New Jersey .............        1.0       1.1      -.2      2.0          1.0       .76     -.03      .25     3,306     2,558      -99      847
     New York ...............         .8       1.1      -.1       .3           .8       .75     -.02      .05     5,434     5,192     -111      355
     Pennsylvania ...........         .9       1.1      -.2      1.3           .9       .70     -.03      .22     3,468     2,744     -123      846

   Great Lakes
     Illinois ...............         .7       1.0      -.1       .3           .7       .70     -.01      .03     3,008     2,932      -56      133
     Indiana ................        1.1       1.4       .2       .6          1.1       .95      .04      .09     1,894     1,664       65      165
     Michigan ...............         .5        .5       .2      1.0           .5       .30      .03      .16     1,520       931      101      489
     Ohio ...................         .5        .8      -.2       .4           .5       .51     -.04      .06     1,812     1,714     -121      219
     Wisconsin ..............        1.2       1.7      0         .8          1.2      1.12      .01      .12     2,020     1,824       10      187

   Plains
     Iowa ...................         .8       1.0      0         .9           .8       .63     0         .13       628       517        2      110
     Kansas .................        1.2       1.4      0        1.8          1.2       .93      .01      .24       939       741        5      194
     Minnesota ..............         .9       1.1      0        1.0           .9       .76     -.01      .12     1,469     1,279      -13      205
     Missouri ...............         .5        .7      -.2       .8           .5       .44     -.04      .13       859       707      -59      210
     Nebraska ...............        1.1       1.3       .2      1.4          1.1       .84      .04      .19       558       437       23       99
     North Dakota ...........        1.0       1.4      0        1.0          1.0       .87     -.01      .17       174       147       -1       29
     South Dakota ...........         .8       1.0       .2      1.3           .8       .60      .04      .18       173       126        8       38

   Southeast
     Alabama ................         .9       1.1      -.2      1.0           .9       .72     -.04      .17       960       815      -50      196
     Arkansas ...............         .8       1.0      0        1.0           .8       .61     0         .20       511       387       -2      126
     Florida ................        1.5       2.3      -.1       .9          1.5      1.34     -.01      .15     7,275     6,622      -68      722
     Georgia ................         .7        .9      -.3       .9           .7       .61     -.05      .11     1,644     1,513     -135      265
     Kentucky ...............        1.4       1.9      -.1      1.0          1.4      1.23     -.02      .18     1,445     1,278      -24      190
     Louisiana ..............        1.0       1.2      -.1      1.0          1.0       .77     -.02      .20     1,086       881      -19      222
     Mississippi ............         .7        .9      0        1.0           .7       .54     -.01      .21       477       345       -5      137
     North Carolina .........        1.2       1.6      -.3      1.3          1.2      1.02     -.06      .21     2,690     2,349     -132      474
     South Carolina .........        1.0       1.3      -.3       .9          1.0       .86     -.05      .15       995       892      -52      154
     Tennessee ..............         .9       1.3      -.6       .7           .9       .86     -.09      .13     1,447     1,385     -140      203
     Virginia ...............        1.0       1.3      -.6      1.2          1.0       .96     -.11      .13     2,360     2,302     -257      316
     West Virginia ..........         .6        .6      -.4      1.1           .6       .36     -.06      .26       240       155      -26      112

   Southwest
     Arizona ................        1.1       1.4      -.4      1.2          1.1       .95     -.07      .18     1,504     1,345     -102      261
     New Mexico .............        1.1       1.3      -.3      1.6          1.1       .87     -.05      .28       484       384      -22      123
     Oklahoma ...............        1.0       1.4      -.2      1.1          1.0       .89     -.03      .19       931       790      -30      172
     Texas ..................         .7        .9      -.3      1.1           .7       .66     -.05      .14     4,638     4,082     -290      847

   Rocky Mountain
     Colorado ...............         .6        .7      -.3      1.0           .6       .53     -.05      .10       868       794      -71      146
     Idaho ..................        1.0       1.2      0        1.3          1.0       .77      .01      .19       322       257        3       62
     Montana ................        1.5       2.4      -.1       .4          1.5      1.43     -.02      .07       329       317       -4       15
     Utah ...................        1.1       1.4      -.4      1.1          1.1      1.03     -.07      .12       608       581      -41       68
     Wyoming ................        1.5       1.9       .3      1.6          1.5      1.18      .08      .20       222       180       12       30

   Far West
     Alaska .................         .9       1.1      0        1.3           .9       .72     0         .22       194       147        1       45
     California .............        1.0       1.0      -.7      3.3          1.0       .69     -.13      .42    11,325     7,916   -1,451    4,860
     Hawaii .................         .8       1.2      -.3      0             .8       .83     -.06     0          287       307      -21        0
     Nevada .................         .8       1.2      -.4       .5           .8       .81     -.08      .06       511       527      -52       37
     Oregon .................        1.1       1.3      -.2      2.3          1.1       .81     -.03      .36     1,151       819      -33      365
     Washington .............        1.0       1.2      -.4      2.0          1.0       .78     -.07      .28     1,971     1,545     -131      557

BEA regions
   New England ..............         .7       1.0      -.3       .9           .7       .66     -.05      .12     3,844     3,481     -283      646
   Mideast ..................         .9       1.1      -.2       .9           .9       .77     -.03      .14    14,534    12,719     -523    2,339
   Great Lakes ..............         .7       1.0      0         .6           .7       .65     0         .09    10,254     9,063       -2    1,192
   Plains ...................         .8       1.0      0        1.1           .8       .68     -.01      .15     4,800     3,952      -36      885
   Southeast ................        1.1       1.5      -.2      1.0          1.1       .96     -.05      .16    21,130    18,924     -911    3,116
   Southwest ................         .8       1.0      -.3      1.2           .8       .73     -.05      .16     7,559     6,599     -444    1,404
   Rocky Mountain ...........         .8       1.1      -.2      1.0           .8       .77     -.04      .12     2,350     2,129     -101      321
   Far West .................        1.0       1.1      -.6      2.8          1.0       .71     -.11      .37    15,439    11,262   -1,687    5,864
---------------------------------------------------------------------------------------------------------------------------------------------------
   1. Net earnings is earnings by place of work-the sum of wage and salary disbursements (payrolls), other labor income, and proprietors'
 income-less personal contributions for social insurance plus an adjustment to convert earnings by place of work to a place-of-residence basis.
   2. Dollar changes are expressed at annual rates.
   Note: Estimates may not add to totals because of rounding.
   Source: U.S. Bureau of Economic Analysis


                                            Table 3. -- Earnings by Major Industry, by State and Region, 2002:III
                                                                   [Seasonally adjusted]

 ----------------------------------------------------------------------------------------------------------------------------------------------
                                                                               Percent change
                            -------------------------------------------------------------------------------------------------------------------
                                                                                  Earnings by industry
                             Earnings  --------------------------------------------------------------------------------------------------------
                             by place                                        Non-                                   Finance,
                             of work                              Durable    durable    Transpor-    Whole-         insur-
                                                       Con-       goods      goods      tation       sale   Retail  ance,               Govern-
                                       Farms   Mining  struction  manu-      manu-      and public   trade  trade   and real  Services  ment
                                                                 facturing  facturing   utilities                   estate
-----------------------------------------------------------------------------------------------------------------------------------------------

 United States ..............  1.1      13.4      0       0.7        0.1        0.8         0.6       1.0     0.6      1.8       1.3     1.3

   New England
     Connecticut ............   .9       6.1      -.7     1.7       -2.1        1.2         0          .2     1.4      1.8       1.3     1.3
     Maine ..................  1.6       8.7       .9     2.4        1.8         .9         1.1       1.3      .9      1.9       1.5     1.5
     Massachusetts ..........   .8      18.9      1.0     -.3         .7         .1          .5       -.2     -.3      2.0       1.1      .3
     New Hampshire ..........  1.6      10.1      8.4     2.4        2.9        -.1        -2.4       1.9      .2      2.7       1.2     2.7
     Rhode Island ...........   .7       3.4      5.7    -2.6        -.3        0            .9       2.8      .1      1.9        .6     1.5
     Vermont ................  1.2       4.0     -4.6     1.6        -.4        -.4         2.8       -.4      .6      2.3       1.3     2.1

   Mideast
     Delaware ...............  1.3      18.4      /2/    -1.8        6.4        -.1         1.4       -.1     1.0      1.8       1.5     1.4
     District of Columbia ...   .9       ---      /2/     2.6       -3.1        1.7          .4        .5     1.4      2.4        .5     1.0
     Maryland ...............  1.3      19.0      3.1     3.2        1.4        -.2         -.1        .6      .3      1.8       1.2     1.6
     New Jersey .............  1.1       6.8      -.2      .9         .9         .5         1.0       1.2      .9      2.2       1.3     0
     New York ...............  1.2       2.4      3.5     1.5        -.2        -.3          .1       1.0      .6      1.7       1.5      .8
     Pennsylvania ...........  1.1      22.8      -.3     1.4       -1.2        2.0         1.0       1.1      .4      1.9       1.7      .3

   Great Lakes
     Illinois ...............  1.0      17.6      -.3     2.7        0           .4          .8        .5      .4      2.1       1.3      .4
     Indiana ................  1.4      14.9      -.4     1.3        1.2        2.5          .4       1.8     -.1      1.6       1.5     2.0
     Michigan ...............   .4       /1/      4.7      .4       -1.9         .2          .9        .5     0        2.3       1.3      .8
     Ohio ...................   .8     -25.8      -.2      .4        -.7        1.4          .3       1.2      .8      2.2       1.1      .9
     Wisconsin ..............  1.7       /1/      1.6     1.5        2.2       -1.1         1.2        .2      .9      2.6       2.1      .5

   Plains
     Iowa ...................  1.0      -6.8       .6     2.2        -.6        1.6          .4       1.0      .8      2.4       1.4     1.0
     Kansas .................  1.5       -.3       .1     3.4        1.8        2.4          .3        .9      .5      1.8       1.4     1.7
     Minnesota ..............  1.1       /1/       .6     0           .2         .6          .1        .1      .4      2.3       1.3     1.6
     Missouri ...............   .6       /1/      2.1      .9         .9       -2.2         1.6        .4      .5      1.5        .9      .4
     Nebraska ...............  1.3       5.5      -.3    -2.3         .7        5.9         1.3       2.2      .4      2.3        .4      .7
     North Dakota ...........  1.3      31.1     -6.4     -.6       -3.2        3.2          .8       2.7      .3      2.0       1.1     1.6
     South Dakota ...........   .9       0        4.5     3.3       -2.2        1.4          .7       2.1      .1      2.3        .7     1.5

   Southeast
     Alabama ................  1.1      16.5      1.3     1.5        -.2        1.8          .5        .9      .5      1.7       1.2     1.0
     Arkansas ...............  1.0        .6     -1.0      .2       -1.0        3.1          .8        .9      .6      2.7       1.1     1.0
     Florida ................  2.3       7.4     -2.3     1.5        2.0        6.3          .8       1.3      .8      1.7       2.0     4.7
     Georgia ................   .8      20.4       .6    -4.6         .7        1.5         1.1       1.6     -.3      1.3       1.3      .7
     Kentucky ...............  2.0      17.2      0       3.6         .5        2.3         1.2       1.5     1.1      2.2       1.7     2.8
     Louisiana ..............  1.2      13.5       .7     -.1        2.5        2.6          .6        .8      .9      1.5       1.3      .9
     Mississippi ............   .8      15.5      1.0      .2       -2.7        -.1          .3        .3      .3      1.5       1.6     1.5
     North Carolina .........  1.5      28.4       .6     -.4        1.4        1.3          .1       1.7      .8      2.1       1.8     1.2
     South Carolina .........  1.3      17.2     -1.5     2.0        1.2        -.3          .7       1.0      .2      2.1       1.4     1.9
     Tennessee ..............  1.3       /1/      1.9     -.2        3.3        1.5         1.1        .2      .6      1.8       1.5      .1
     Virginia ...............  1.4       6.3       .8     1.4        3.5        0           0         1.6      .9      1.9       1.1     1.7
     West Virginia ..........   .5       /1/     -3.4    -4.2        1.9       -1.8          .4        .8      .1      2.2       1.6     1.1

   Southwest
     Arizona ................  1.4      16.9     -3.5     1.5         .1        1.5          .1        .8      .6      1.4       1.3     2.7
     New Mexico .............  1.3      38.0     -2.7     1.6       -3.5       -2.0        -2.0       1.5      .4      -.2       1.8     1.3
     Oklahoma ...............  1.4        .6      1.5     1.0        3.7         .9          .6       1.3      .8      2.5       1.6      .7
     Texas ..................   .9       -.1      -.2      .3         .7         .6          .8       1.0      .5      1.7        .9     1.3

   Rocky Mountain
     Colorado ...............   .7      17.5       .8     -.1       -1.6        -.4         -.5        .9     -.1       .9       1.5      .7
     Idaho ..................  1.1      19.8      -.4    -3.2         .8        2.7          .1       1.3     1.0      2.1        .8     -.3
     Montana ................  2.3       /1/      1.7     4.1        -.5        6.2        -1.6       2.1      .1      3.0       1.0     1.3
     Utah ...................  1.4      17.2     -3.5     1.5        5.9        2.4         -.5        .8     -.1      1.8        .1     2.6
     Wyoming ................  1.9      30.0      2.7     -.2        1.3        1.0         -.9       1.8      .9      1.5       -.5     3.6

   Far West
     Alaska .................  1.0      13.8     -5.0     3.2       -7.0       -2.9          .3        .8     1.6       .9       2.2     1.6
     California .............  1.0      10.7       .3      .1       -1.0       -1.0          .5       1.3     1.1      1.7       1.1     1.5
     Hawaii .................  1.2       3.4      1.0    -1.5        2.4        1.9         1.1       1.6      .7      2.1       1.9      .9
     Nevada .................  1.2      19.6      -.1     1.1        2.2        5.4         1.7       1.0      .7      2.3        .6     1.3
     Oregon .................  1.3      11.4      5.5     0          1.5         .8          .8       -.2      .8      1.9       1.4     1.3
     Washington .............  1.1       3.5       .8     1.7        -.3        1.1          .1       1.1      .3      1.8       1.3     1.6

 BEA regions
   New England ..............   .9       8.7       .6      .6        0           .5          .3        .3      .3      2.0       1.2     1.0
   Mideast ..................  1.1      11.5       .7     1.6        -.2         .7          .6       1.0      .6      1.8       1.4      .7
   Great Lakes ..............  1.0     295.8       .8     1.4        -.3         .7          .7        .8      .4      2.1       1.4      .8
   Plains ...................  1.0       4.6      -.2      .9         .4         .7          .8        .7      .5      2.0       1.1     1.1
   Southeast ................  1.5      16.5      -.1      .1        1.4        1.7          .7       1.2      .6      1.8       1.6     2.0
   Southwest ................  1.0       6.7      -.2      .6         .7         .6          .6       1.0      .5      1.7       1.1     1.4
   Rocky Mountain ...........  1.1      26.5      1.0      .1         .8        1.2         -.6       1.0      .1      1.3       1.0     1.2
   Far West .................  1.0       9.6      -.8      .4        -.6        -.5          .5       1.2     1.0      1.7       1.2     1.4
 ----------------------------------------------------------------------------------------------------------------------------------------------
   1. Not meaningful.
   2. Data are suppressed to avoid disclosure of confidential information.
   Source: U.S. Bureau of Economic Analysis


                             Table 4. -- Contribution to Percent Change in Earnings, by State and Region, 2002:III
------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                Percentage points
                              ------------------------------------------------------------------------------------------------------------------
                                                                                   Earnings by industry
                                Percent   ------------------------------------------------------------------------------------------------------
                              change in                                         Non-                                  Finance,
                               earnings                              Durable    durable   Transpor-   Whole-          insur-
                               by place                  Con-        goods      goods     tation      sale    Retail  ance,              Govern-
                                of work   Farms  Mining  struction   manu-      manu-     and public  trade   trade   and real Services  ment
                                                                    facturing  facturing  utilities                   estate
------------------------------------------------------------------------------------------------------------------------------------------------

 United States ..............       1.1    0.06    0.00       0.04       0.01       0.04       0.04     0.06    0.05      0.18    0.39      0.21

   New England
     Connecticut ............        .9     .01    0           .09       -.23        .06       0         .01     .11       .30     .38       .17
     Maine ..................       1.6     .04    0           .17        .13        .06        .05      .07     .11       .14     .44       .29
     Massachusetts ..........        .8     .01    0          -.02        .06        .01        .02     -.01    -.02       .25     .41       .04
     New Hampshire ..........       1.6     .01     .01        .19        .36       0          -.11      .14     .02       .22     .36       .32
     Rhode Island ...........        .7    0       0          -.15       -.03       0           .05      .13     .01       .18     .21       .27
     Vermont ................       1.2     .02    -.01        .11       -.06       -.02        .15     -.02     .06       .13     .41       .35

   Mideast
     Delaware ...............       1.3     .08     /2/       -.11        .31       -.01        .06     0        .08       .29     .40       .22
     District of Columbia ...        .9     ---     /2/        .03       -.01        .03        .01     0        .03       .14     .20       .41
     Maryland ...............       1.3     .04    0           .24        .06       -.01       0         .03     .02       .15     .39       .37
     New Jersey .............       1.1     .01    0           .05        .04        .04        .09      .10     .08       .24     .40      0
     New York ...............       1.2    0       0           .06       -.01       -.01       0         .05     .04       .39     .48       .12
     Pennsylvania ...........       1.1     .03    0           .08       -.11        .17        .07      .06     .03       .16     .53       .03

   Great Lakes
     Illinois ...............       1.0     .02    0           .16       0           .03        .06      .03     .03       .23     .38       .05
     Indiana ................       1.4     .04    0           .09        .23        .18        .02      .10    -.01       .10     .36       .28
     Michigan ...............        .4     /1/     .01        .02       -.41        .01        .04      .03    0          .14     .36       .11
     Ohio ...................        .8    -.04    0           .02       -.11        .10        .01      .07     .08       .16     .29       .14
     Wisconsin ..............       1.7     /1/    0           .10        .32       -.10        .07      .01     .09       .19     .54       .08

   Plains
     Iowa ...................       1.0    -.14    0           .14       -.07        .12        .03      .07     .07       .20     .35       .17
     Kansas .................       1.5    -.01    0           .20        .19        .14        .02      .06     .05       .12     .33       .31
     Minnesota ..............       1.1     /1/    0          0           .02        .05        .01      .01     .03       .22     .36       .22
     Missouri ...............        .6     /1/    0           .06        .08       -.15        .13      .02     .05       .13     .26       .06
     Nebraska ...............       1.3     .28    0          -.15        .04        .38        .12      .13     .03       .18     .10       .13
     North Dakota ...........       1.3     .42    -.12       -.04       -.17        .09        .06      .20     .03       .13     .30       .39
     South Dakota ...........        .9    0        .01        .21       -.17        .05        .04      .12     .01       .18     .19       .29

   Southeast
     Alabama ................       1.1     .12     .01        .10       -.02        .13        .03      .05     .05       .11     .31       .20
     Arkansas ...............       1.0     .01    -.01        .01       -.10        .27        .07      .05     .07       .13     .24       .17
     Florida ................       2.3     .04    0           .09        .09        .16        .05      .08     .09       .17     .69       .78
     Georgia ................        .8     .11    0          -.27        .04        .10        .12      .12    -.03       .10     .38       .12
     Kentucky ...............       2.0     .16    0           .21        .06        .16        .09      .08     .11       .12     .40       .53
     Louisiana ..............       1.2     .05     .03       0           .12        .19        .05      .04     .09       .08     .34       .19
     Mississippi ............        .8     .15     .01        .01       -.31       0           .02      .01     .03       .07     .39       .36
     North Carolina .........       1.5     .24    0          -.03        .13        .11       0         .10     .07       .17     .45       .24
     South Carolina .........       1.3     .10    0           .14        .11       -.03        .05      .05     .02       .14     .32       .40
     Tennessee ..............       1.3     /1/    0          -.01        .35        .11        .08      .01     .06       .13     .45       .02
     Virginia ...............       1.4     .01    0           .09        .18       0          0         .08     .07       .15     .36       .41
     West Virginia ..........        .5     /1/    -.20       -.24        .14       -.10        .03      .04     .01       .10     .44       .24

   Southwest
     Arizona ................       1.4     .11    -.02        .12        .01        .03       0         .05     .06       .14     .40       .47
     New Mexico .............       1.3     .55    -.08        .10       -.16       -.03       -.11      .06     .03      -.01     .50       .39
     Oklahoma ...............       1.4     .01     .08        .05        .28        .06        .05      .06     .08       .14     .39       .15
     Texas ..................        .9    0       -.01        .02        .05        .03        .08      .07     .04       .14     .24       .19

   Rocky Mountain
     Colorado ...............        .7     .13     .01       -.01       -.10       -.01       -.05      .05    -.01       .08     .46       .10
     Idaho ..................       1.1     .66    0          -.26        .09        .12        .01      .07     .10       .11     .19      -.05
     Montana ................       2.3     /1/     .04        .31       -.02        .15       -.13      .10     .01       .19     .28       .31
     Utah ...................       1.4     .08    -.04        .11        .48        .09       -.04      .04    -.01       .15     .02       .51
     Wyoming ................       1.9     .50     .39       -.02        .03        .02       -.07      .06     .08       .07    -.11       .85

   Far West
     Alaska .................       1.0     .01    -.36        .26       -.06       -.07        .03      .02     .13       .04     .50       .51
     California .............       1.0     .09    0          0          -.09       -.04        .03      .08     .10       .16     .38       .23
     Hawaii .................       1.2     .02    0          -.09        .02        .04        .08      .05     .07       .16     .56       .26
     Nevada .................       1.2     .03    0           .11        .06        .08        .10      .04     .07       .20     .25       .19
     Oregon .................       1.3     .10     .01       0           .20        .03        .05     -.02     .09       .14     .37       .23
     Washington .............       1.1     .04    0           .11       -.03        .04        .01      .06     .03       .13     .39       .30

 BEA regions
   New England ..............        .9     .01    0           .03       0           .02        .01      .02     .03       .25     .39       .14
   Mideast ..................       1.1     .01    0           .08       -.01        .04        .04      .06     .04       .27     .46       .12
   Great Lakes ..............       1.0     .06    0           .08       -.05        .05        .04      .05     .04       .17     .37       .11
   Plains ...................       1.0     .05    0           .06        .04        .05        .06      .05     .04       .17     .29       .18
   Southeast ................       1.5     .09    0           .01        .10        .10        .05      .07     .06       .13     .45       .37
   Southwest ................       1.0     .04    -.01        .04        .06        .03        .05      .06     .05       .13     .29       .24
   Rocky Mountain ...........       1.1     .26     .02        .01        .05        .04       -.05      .05     .01       .10     .29       .22
   Far West .................       1.0     .08    0           .02       -.06       -.02        .03      .07     .09       .15     .38       .25
------------------------------------------------------------------------------------------------------------------------------------------------
   1. Not meaningful.
   2. Data are suppressed to avoid disclosure of confidential information.
   Note: Estimates may not add to totals because of rounding.
   Source: U.S. Bureau of Economic Analysis

 
                                            Table 5. Year over year growth, by State, 1999:IV-2002:III
                                                                [Seasonally adjusted]

------------------------------------------------------------------------------------------------------------------------------------
                                                                         Percent change
                          ----------------------------------------------------------------------------------------------------------
                                                                       Year over year growth
                          ----------------------------------------------------------------------------------------------------------
                          1999Q4   2000Q1   2000Q2   2000Q3   2000Q4   2001Q1   2001Q2   2001Q3   2001Q4   2002Q1   2002Q2   2002Q3
------------------------------------------------------------------------------------------------------------------------------------
United States............     5.1      7.3      8.1      8.7      7.7      5.5      4.0      2.6      1.4      1.6      2.7      3.3

  Nebraska...............     5.7      5.1      6.0      5.6      3.3      5.1      4.1      3.6      3.6      5.2      5.1      5.2
  Wyoming................     6.0      6.0      6.7      6.4      7.7      6.1      6.2      6.9      5.0      6.6      5.4      5.2
  New Mexico.............     2.6      4.5      5.3      5.7      5.6      7.0      6.0      6.7      6.3      5.7      5.3      4.8
  Florida................     4.6      5.8      6.6      7.4      7.8      5.8      5.1      4.3      2.9      3.5      3.9      4.8
  Maine..................     3.3      7.6      7.6      5.6      7.3      6.7      4.8      4.3      3.6      3.5      4.0      4.7
  Hawaii.................     2.9      4.6      6.0      4.7      6.0      5.4      3.4      3.7      1.7      3.4      4.7      4.7
  Kansas.................     4.4      4.8      6.9      8.1      4.0      6.2      3.8      2.5      3.0      3.9      4.3      4.5
  Alaska.................     3.1      6.1      6.8      8.1      6.4      4.8      5.3      4.5      3.9      5.1      4.2      4.5
  District Of Columbia...     1.6      7.0      8.2      8.3      8.8      5.4      4.7      3.3      1.2      2.5      3.3      4.4
  Maryland...............     5.1      6.9      7.6      8.1      8.6      6.5      5.7      4.5      2.8      3.3      3.9      4.3
  Tennessee..............     5.3      6.8      6.6      6.8      6.0      4.2      3.5      2.7      1.7      2.9      3.7      4.2

  Arkansas...............     4.3      5.3      5.7      6.9      5.0      5.1      4.3      3.1      3.8      3.3      4.1      4.2
  Louisiana..............     1.9      4.0      4.8      5.5      4.9      5.6      5.2      5.7      5.6      4.8      4.6      4.1
  Mississippi............     3.4      5.0      6.0      5.5      4.4      5.0      3.6      3.2      3.5      3.3      3.8      4.0
  Oregon.................     4.9      6.9      7.5      8.0      6.0      4.5      2.8      1.5      1.3      1.6      3.0      4.0
  South Dakota...........     5.1      7.5      6.8      6.2      4.5      3.5      3.1      3.7      3.2      4.1      4.2      3.9
  New Hampshire..........     5.9     12.5     11.8     11.6     11.1      5.6      4.5      2.5       .6       .5      2.7      3.9
  Washington.............     8.3      9.4      9.1      6.1      4.3      1.3      4.6      3.4      1.2      3.2      1.7      3.8
  Pennsylvania...........     3.5      5.8      6.4      7.1      6.9      5.4      3.9      3.1      1.4      2.7      3.4      3.8
  Rhode Island...........     3.6      6.5      7.0      7.1      7.0      5.7      4.5      4.0      2.4      3.4      4.2      3.7
  Georgia................     6.5      8.0      8.8      9.4      8.1      5.5      4.3      3.2      2.2      2.6      3.5      3.6

  California.............     7.2      9.9     10.2     12.4      9.5      5.8      4.1       .5       .3       .7      2.4      3.6
  Indiana................     3.9      6.6      7.8      8.2      5.5      3.7      2.4      1.7      2.0      1.7      3.1      3.6
  North Carolina.........     5.2      6.6      7.5      9.7      7.4      5.5      3.7      2.1      1.1      2.0      2.2      3.6
  Kentucky...............     4.1      7.7      7.9      8.3      7.0      4.3      3.5      3.2      2.1      2.5      3.2      3.5
  Arizona................     6.0     10.2      8.1      8.9      8.6      5.0      5.9      5.3      3.1      3.7      3.7      3.5
  Vermont................     5.9      7.1      8.1      6.8      7.6      6.7      5.0      5.2      3.3      2.8      2.8      3.5
  South Carolina.........     4.7      6.4      7.6      7.4      6.7      5.9      3.3      3.1      1.9      2.1      3.3      3.5
  Virginia...............     5.9      6.6      9.2      9.5      9.0      6.9      6.1      3.8      2.5      1.8      2.1      3.5
  Wisconsin..............     4.8      6.2      6.7      6.6      5.7      4.9      3.6      3.1      2.0      2.3      2.8      3.4
  Oklahoma...............     4.6      5.6      7.0      8.4      7.7      6.7      4.9      3.7      2.7      2.9      3.1      3.4

  West Virginia..........     2.6      4.5      5.8      5.6      5.6      5.4      4.3      4.3      3.6      3.7      3.5      3.3
  Iowa...................     2.6      6.3      8.1      7.0      5.3      4.4      2.6      2.2      1.7      2.8      2.9      3.3
  Alabama................     4.1      4.9      5.6      5.4      5.1      4.8      3.9      3.7      2.6      2.3      2.7      3.2
  Utah...................     4.4      7.5      8.0      7.5      7.3      5.4      4.7      4.0      3.1      3.0      2.3      3.1
  New Jersey.............     4.3      7.5     10.4     11.0     10.6      6.0      3.1      2.5       .4      2.6      2.7      3.1
  Idaho..................     7.8      8.1      9.1      8.6      7.2      5.2      4.1      3.8      2.4      3.9      2.7      3.0
  Delaware...............     4.6      7.2      9.1      9.4      9.7      6.2      5.2      4.4      1.9      4.0      3.1      3.0
  Montana................     3.3      5.7      6.2      8.8      6.2      6.0      5.4      5.0      3.0      2.9      2.9      2.9
  North Dakota...........     1.8      8.2      8.8      9.5      5.4      3.7      1.8      2.5      2.2      4.6      3.1      2.9
  Texas..................     5.9      8.3      9.0      9.9      8.2      6.6      4.2      2.6      1.9      1.1      2.5      2.9

  Minnesota..............     5.0      7.0      8.1      9.1      8.2      6.4      4.1      2.8      1.4      1.7      2.4      2.9
  Ohio...................     3.7      5.5      5.4      5.7      4.2      2.6      2.6      2.3      1.8      2.0      2.8      2.8
  Michigan...............     4.4      6.8      6.6      6.4      5.1      1.6      1.5      1.3       .8       .4      2.7      2.8
  Massachusetts..........     6.6     11.3     11.2     12.0     10.6      6.3      4.4      1.1      -.2      -.8      1.6      2.7
  Nevada.................     5.5      7.1      8.9      9.3      8.0      7.0      5.6      5.4      2.3      3.2      2.9      2.6
  Illinois...............     3.4      6.4      7.2      8.3      7.5      5.3      3.3      2.2       .5       .6      2.3      2.4
  Missouri...............     3.9      5.9      7.4      7.9      6.5      5.1      3.3      2.7      2.2      2.6      2.5      2.3
  New York...............     4.3      6.1      8.1      7.5     10.1      6.7      3.6      2.2      -.3     -1.6      1.2      1.9
  Connecticut............     4.9      7.6      8.2      8.0      8.0      6.2      3.9      2.0      -.1      -.2      1.0      1.9
  Colorado...............     9.3      9.4     11.7     13.7     10.7      8.8      4.6      1.4      -.1      -.2      1.0      1.9
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  Percent changes are calculated as growth from the previous year's quarter to the current quarter.
  States are shown ranked according to 2001:III-2002:III growth rates.
  Source: U.S. Bureau of Economic Analysis