Preliminary statistics on people’s incomes by state in the second quarter of 2020 will be released Thursday, Sept. 24 by the U.S. Bureau of Economic Analysis.
These state personal income statistics will provide BEA’s first look at state economies for the April-June quarter of 2020 and serve as a basis for government and business decision making. For example:
- Federal government agencies use state personal income statistics to allocate funds and determine matching grants to states. The statistics are also used in forecasting models to project energy and water use.
- State governments use the statistics to project tax revenues and demand for public services.
- Academic regional economists use the statistics for applied research.
- Businesses, trade associations, and labor organization use the statistics for market research.
The release will also include updated annual state personal income estimates for 2013 to 2019 and updated estimates for the first quarter of 2013 through the first quarter of 2020.