The full text of the release on BEA's Web site can be found at www.bea.gov/newsreleases/
Mining earnings fell 2.2 percent nationally in the second quarter, the seventh consecutive quarterly decline (table 5). Lower mining earnings was the leading contributor to below average earnings and personal income growth in four of the five slowest growing states: Alaska, Wyoming, Oklahoma, and North Dakota. Lower farm earnings was the leading contributor to below average earnings and personal income growth in South Dakota.
Updates to Personal Income. In addition to today's release of 2016 Q2 personal income, BEA also released revised quarterly and annual state personal income estimates for the 1998 Q1 to 2016 Q1 periods. Revisions are usually made each September to incorporate the results of the annual revision of the national income and product accounts (NIPAs), to incorporate state source data that are more complete and more detailed than those previously available, and to update the seasonal factors used for the quarterly estimates. In addition, this year's annual revision introduced two major methodological improvements affecting nonfarm proprietors' income that were discussed in the July 2016 issue of the Survey of Current Business: (1) improved geocoding and editing of source data from IRS Form 1065 (Partnership Returns) and Schedule C of Form 1040 (Sole Proprietor Returns), and (2) an improved method of allocating national control totals to states. A complete presentation and discussion of the data and revisions will be provided in the October 2016 issue of the Survey of Current Business.
Next release: December 20, 2016 at 8:30 A.M. EST – State Personal Income: Third Quarter 2016.
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