Investor Presentaiton
Personal Income Growth, 1st
Quarter 2021
State personal income increased at an annual rate of 59.7% in the first quarter of 2021, the
second largest quarterly growth on record
Nearly all states recorded double-digit growth in personal income - Alabama's personal
income growth was 79.3%
Transfer receipts increased by $2.3 trillion for the nation in the first quarter of 2021,
accounting for almost all the growth in personal income
The increase in transfer receipts included the new temporary pandemic relief payments
provided by the Coronavirus Response and Relief Supplemental Appropriations (CRRSA)
Act and the American Rescue Plan Act (ARPA)
Temporary payments included in these acts:
-
Direct economic payments
Expanded unemployment benefits
Paycheck Protection Program loans
LO
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