What states had the fastest income growth in 2021?

Tennessee income growth outpaces U.S. pace in pandemic

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Fastest income growth in 2021

In the second year of the pandemic, personal income nationwide rose an average of 3.1% last year, after accounting for inflation. Earnings, which include wages from work plus extra compensation such as employer-sponsored health benefits, and business profits, drove much of the growth after a stagnant 2020.

The states with the fastest income growth were:

1. Idaho - 5.3%

2. South Dakota - 5.1%

3. Florida - 5%

4. Nebraska - 5%

5. New Hampshire - 4.7%

Source: Pew Charitable Trust. Personal income grew 4.5% in Tennessee, 3.4% in Georgia and 2.8% in Alabama in 2021.