Per Capita Personal Income in the United States
The following table shows the per capita personal income in the United States for the top 15 states in 2023, in dollars:
State Per Capita Personal Income Massachusetts 84,561 New Jersey 77,199 California 77,036 Colorado 75,722 New York 75,407 Washington 75,332 Maryland 70,228 Virginia 68,985 Illinois 67,655 Florida 64,806 Pennsylvania 64,506 Texas 62,586 Arizona 58,442 North Carolina 58,109 Ohio 57,777 Michigan 57,038 Last Percent Changes in Per Capita Personal Income
The following table shows the last percent changes in per capita personal income for the top 15 states in 2023:
State Last Percent Change Colorado 5.28% Arizona 3.58% Texas 3.37% Virginia 3.21% Florida 2.74% North Carolina 2.48% Maryland 1.70% Washington 1.54% New Jersey 1.47% Massachusetts 1.32% Ohio 1.32% Michigan 0.77% Pennsylvania 0.72% Georgia 0.72% Illinois 0.56% California 0.06% New York -0.71% Analysis
The states with the highest per capita personal income in the United States are generally located in the Northeast and West Coast regions. These states are home to major financial, technology, and education centers.
The states with the highest last percent changes in per capita personal income are located in the Mountain West and South regions. These states are experiencing rapid population growth and economic development.
It is important to note that per capita personal income is just one measure of economic well-being. Other factors, such as the cost of living and the distribution of income, also play a role in determining people's quality of life.
https://fred.stlouisfed.org/release/tables?rid=110&eid=257197
Sunday, October 1, 2023
Per Capita Personal Income by State, Annual
Money Stock Measures as of September 2023
The US money supply is the total amount of money in circulation, including currency and deposits. It is divided into several categories, including M1, M2, and M3.
M1 is the narrowest measure of the money supply and includes the most liquid forms of money, such as currency, demand deposits, and other checkable deposits. M2 is a broader measure of the money supply and includes M1 plus savings deposits, money market deposit accounts, and other less liquid forms of money. M3 is the broadest measure of the money supply and includes M2 plus large time deposits, certificates of deposit, and other less liquid forms of money.
US Money Supply (September 30, 2023)
| Category | Amount (USD Billions) | Last Pct Change |
|---|---|---|
| M1 | 18,320.40 | -10.544485 |
| M2 | 20,865.30 | -3.668530 |
| Currency Component of M1 | 2,242.80 | -0.390833 |
| Monetary Base; Reserve Balances | 3,228,000.00 | -2.356393 |
| Monetary Base; Total | 5,559,100.00 | -0.413815 |
| Monetary Base; Currency in Circulation | 2,331,100.00 | 2.407416 |
| Reserves of Depository Institutions: Total | 3,228.00 | -2.356393 |
| Retail Money Market Funds | 1,611.10 | 53.335871 |
The data above shows that the US money supply decreased across all categories in September 2023. The largest decrease was in M1, which fell by 10.54%. This was followed by M2, which fell by 3.67%. The currency component of M1 fell by 0.39%, while the monetary base fell by 0.41%.
The decrease in the money supply is likely due to a number of factors, including the Federal Reserve's quantitative tightening program and rising interest rates. Quantitative tightening is a process by which the Fed reduces the amount of money in circulation by selling assets from its balance sheet. Rising interest rates make it more expensive to borrow money, which can lead to a decrease in investment and spending.
The decrease in the money supply could have a number of implications for the US economy. It could lead to slower economic growth, lower inflation, and higher unemployment. However, it could also help to reduce the government's budget deficit and make the US economy more resilient to economic shocks.
It is important to note that the money supply is just one indicator of the health of the US economy. Other factors, such as economic growth, unemployment, and inflation, also play an important role.
