California, Illinois and New York each saw declines in personal income last year, according to revised government data that previously showed income increases in large, voter-rich states.
The decline in personal income in all three states was the first since 2009, and the drop in New York was the worst in the US. Earnings in Rhode Island, Louisiana and Mississippi also turned from positive to negative in 2022, according to revised Bureau of Economic Analysis data released Friday.
The data shows that the total value of all goods and services produced in the economy was also lower than previously thought, and that US growth was revised up from 2.1% to 1.9% last year.
The revised growth rate estimates did not treat states equally.
Florida fared better than previously thought, surpassing Idaho as the fastest-growing state last year with seasonally adjusted growth of 4.6%. And at the bottom, seven states now show zero growth or worse, compared to five before the revisions.