Personal income fell 0.5 percent in Q1 - The Business Journal of the Greater Triad Area:

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percent in the first quarter of 2009 on mountingfjob losses, falling interest rates and reducecd corporate dividend payments. The released regional incomd data Thursday showing declines in37 states. Georgia rankesd 17th in personal income, up 0.5 perceng to $327 billion in the first comparedwith $325.3 billion a year ago. Declines were offseft by inflation, which reduced the cost of livinghby 0.3 percent in the first quarter of the year. The BEA, a divisio of the U.S. Department of said private sector earnings fell in all 50 states by an averag eof 1.4 percent nationally.
Finance, manufacturingb and construction were the majoer reasons for private sector income Health care and government bothposteds increases. Federal civilian and military employeee received average pay raisesof 3.9 percent in 2009, whichh helped to propel two government-dependent states to positive income Hawaii (up 0.8 percent) and Virginia (up 0.3 Alaska had the largest decrease, with personal income falling by 3.2 percentt because a special distribution of $2,00p0 from the state’s permanent fund won’ be repeated. North Dakota, Iowa and Midwest suffered becausew of falling farmcommodit prices.