Investor Presentaiton
Florida's Personal Income...
Personal Income: Percent Change at Annual Rate, 2022:Q4-2023:Q1
CA
0.7
WA
6.9
MT
ND
8.3
11.0
OR
MN
8.0
ID
6.8
NH 6.1
ME
VT 6.0
$11.4
MA-0.9
SD
WI
NY
6.7
9.2
6.9
WY
MI
3.2
RI 5.8
8.7
7.4
IA
PA
CT 5.5
NE
NV
10.1
OH
6.7
- NJ 5.8
11.1
IL
IN
6.2
9
52
UT
6.5
CO
4.2
-1.0
www
DE 3.4
4.2
4.8
KS
MO
MD 5.0
5.9
VA 4.6
8.4
7.0
KY 7.1
DC 5.6
NC 5.9
TN 7.8
AZ
OK
NM
AR
7.5
6.2
SC
7.1
3.2
6.8
AL
MS
GA
5.5
4.8
9
5.7
TX
LA
6.7
6.2
AK
7.2
10
HI
1.1
FL
7.9
Quintile percent changes
In the 1st Quarter of 2023,
Florida's personal income
growth was ranked 10th in the
nation with a 7.9 percent change
at an annual rate. The United
States as a whole had quarterly
growth of 5.1 percent.
7.9% to 11.4%
6.8% to 7.9%
6.0% to 6.8%
4.8% to 6.0%
-1.0% to 4.8%
U.S. percent change = 5.1%
U.S. Bureau of Economic Analysis
Buttressed during the pandemic by an infusion of federal dollars into Florida's households, Florida's Personal
Income grew 6.6 percent in Fiscal Year 2019-20 and grew another 8.0 percent in Fiscal Year 2020-21. Fiscal
Year 2021-22 saw moderately lower growth of 4.9 percent as the benefit from workers returning to their jobs
or leveraging the tight labor market into better paying opportunities competed with the end of federal relief
measures. The Economic Estimating Conference anticipates that the state's income expanded at a strong 7.8
percent in Fiscal Year 2022-23, largely on the continuing strength of salary growth. Thereafter, personal
income growth will step down to 5.6 percent in Fiscal Year 2023-24 and 5.9 percent in Fiscal Year 2024-25,
before gradually declining to a more characteristic 4.2 percent per year.
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