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State personal income, 1982-84: revised estimates.

State Personal Income, 1982-84: Revised Estimates

THIS article presents annual estimates of State personal income--that is, income received from all sources by persons residing in each State. Table 1 presents total and per capita personal income for 1978-84; table 2 presents total and per capita disposable personal income for the same years. Table 3 presents detailed estimates of the sources of personal income by major type of payment and by industry for 1982-84.

The sum of the 1984 State personal income estimates differs from the published national estimate of personal income. The national estimate was not revised in July, as is regularly the case; instead, the revision that would have been made in the national estimate will be incorporated in a comprehensive revision scheduled for completion in December 1985. The State estimates incorporate data that became available since the national estimate was prepared. The State estimates to be published in August 1986 will incorporate the comprehensive revision of the national estimates.

The estimates for 1982-84 presented here supersede those published previously; estimates for earlier years are unrevised. Detailed estimates for 1981 appear in the August 1984 SURVEY. Detailed estimates for earlier years can be obtained from the Regional Economic Information System, as explained in the box on page 19, or, for years prior to 1978, from State Personal Income: 1929-82.(1) That volume also contains a description of the sources and methods used to prepare the State estimates.

1. State Personal Income: Estimates for 1929-82 and a Statement of Sources and Methods (stock no. 003-010-00125-9) is available from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402, at a price of $9.50.

Definition of total and per capita personal income

The personal income of a State is defined as the income received by, or on behalf of, all the residents of that State. It consists of the income received by persons from all sources: from participation in production, from transfer payments from government and business, and from government interest. Persons, in this definition, are individuals, nonprofit institutions, private noninsured welfare funds, and private trust funds. Personal income is measured as the sum of wage and salary disbursements, other labor income, proprietors' income with the inventory valuation and capital consumption adjustments, personal dividend income, personal interest income, rental income of persons with capital consumption adjustment, and transfer payments, less personal contributions for social insurance. Per capita personal income is total personal income (for the year) divided by the resident population as of July 1.

Disposable personal income is defined as personal income less personal tax and nontax payments. Personal taxes include income, estate and gift, personal property, and selected license taxes. Personal contributions for social insurance are not treated as taxes. Nontax payments include passport fees, fines and penalties, donations, tuition and fees paid to schools and hospitals operated by government, and other miscellaneous revenues. Per capita disposable personal income is the disposable personal income (for the year) divided by resident population as of July 1.

The definitions underlying the State estimates are essentially the same as those underlying the personal income estimates in the national income and product accounts. The major difference is the treatment of U.S. residents temporarily working abroad. The national estimates include Federal civilian and military personnel stationed abroad and U.S. residents who are employed by private U.S. firms and are on temporary foreign assignment. The State estimates include only persons residing in the 50 States and the District of Columbia.

Table: 1.--Total and Per Capita Personal Income by States and Regions, 1978-84

Table: 2.--Total and Per Capita Disposable Personal Income by States and Regions, 1978-84

Table: 3.--Personal Income by Major Sources, 1982-84
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Publication:Survey of Current Business
Date:Aug 1, 1985
Previous Article:Consumer installment credit, 1980-85.
Next Article:U.S. direct investment abroad: country and industry detail for position and balance of payments flows, 1984.

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