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Interest Rates
- US: H15 -1.05 2012-06-07 FRB Market yield on U.S. Treasury securities at 5-year constant maturity, quoted on investment basis, inflation-indexed
- US: H15 0.16 2012-06-07 FRB Federal funds effective rate
- US: H15 0.14 2012-06-07 FRB 30-Day AA Nonfinancial Commercial Paper Interest Rate
- US: H15 0.66 2012-06-07 FRB Rate paid by fixed-rate payer on an interest rate swap with maturity of three year.
- US: H15 0.16 2012-06-07 FRB 60-Day AA Nonfinancial Commercial Paper Interest Rate
Trade (FTC)
- Court Halts Credit Repair Scammers in Response to FTC Contempt ChargesHargrave Operation Falsely Claimed it Could Repair Anyone's Credit for $250 […]
- Court Halts Credit Repair Scammers in Response to FTC Contempt Charges
Commerce News
- Last Call for the Low Power Television and Translator Digital Upgrade ProgramWilliam Cooperman, Director, Broadcast Division, Office of Information and Telecommunications Applications, NTIA May 25, 2012 The deadline for analog low-power television stations and translator stations to apply for a federal grant to cover digital upgrade costs is fast approaching. The last day that NTIA can accept grant applications under the Digital Upgr […]
- Last Call for the Low Power Television and Translator Digital Upgrade Program
Small Business News
- Letter dated - 6/01/2012 Office of Management and BudgetLanding page summary: The U.S. Small Business Administration's (SBA) Office of Advocacy (Advocacy) submits the following comments on the Office of Management and Budget’s (OMB’s) request for information on Federal Participation in the Development and Use of Voluntary Consensus Standards and In Conformity Assessment Activities. Printer Friendly Version, […]
- Letter dated - 6/01/2012 Office of Management and Budget
Monetary Policy
Cost Estimates
- H.R. 4383, Streamlining Permitting of American Energy Act of 2012As ordered reported by the House Committee on Natural Resources on May 16, 2012 read more […]
- H.R. 4381, Planning for American Energy Act of 2012As ordered reported by the House Committee on Natural Resources on May 16, 2012 read more […]
- H.R. 4402, National Strategic and Critical Minerals Production Act of 2012As ordered reported by the House Committee on Natural Resources on May 16, 2012 CBO estimates that implementing H.R. 4402 would have no significant impact on the federal budget. Enacting the bill could reduce mandatory payments for attorneys’ fees over the 2013-2022 period; therefore, pay-as-you-go procedures apply. However, CBO estimates that any such impac […]
- H.R. 4383, Streamlining Permitting of American Energy Act of 2012
Banking
- OCC Appoints Receiver for Carolina Federal Savings BankThe Office of the Comptroller of the Currency (OCC) today appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for Carolina Federal Savings Bank, Charleston, South Carolina, a federal savings association. As of March 31, 2012, the institution had approximately $54.4 million in total assets. […]
- OCC Appoints Receiver for Carolina Federal Savings Bank
State Personal Income, 1st quarter 2008-4th quarter 2011
EMBARGOED FOR RELEASE: 8:30 A.M. EDT, Wednesday, March 28, 2012BEA 12-10State Personal Income 2011
WASHINGTON DC, March 28, 2012 – State personal income rose an average 5.1 percent in 2011 after rising 3.7 percent in 2010, according to estimates released today by the U.S. Bureau of Economic Analysis. State personal income growth ranged from 3.4 percent in Maine to 8.1 percent in North Dakota. Inflation, as measured by the national price index for personal consumption expenditures, increased to 2.5 percent in 2011 from 1.8 percent in 2010.
Earnings, which grew an average 4.4 percent in 2011, recovered their pre-recession levels and reached new peaks in 45 states. Earnings in Arizona, Florida, Michigan, Nevada, and Oklahoma are still below peaks reached in 2007 or 2008. The 3.0 percent earnings growth in Nevada in 2011 follows three consecutive years of decline.
Earnings increased in every private industry in 2011 and earnings growth accelerated in all private industries except administrative services and accommodations. In contrast, earnings fell 0.3 percent for state and local government employees, while earnings growth slowed for the civilian federal government to 0.6 percent from 7.2 percent in 2010 and for the military to 1.3 percent from 4.0 percent in 2010.
Per capita personal income. Per capita personal income (personal income divided by population) rose 4.3 percent nationally in 2011 after rising 2.8 percent in 2010. Across states, per capita personal income growth ranged from 2.9 percent in Alaska to 6.7 percent in North Dakota.
Fourth quarter personal income.1 State personal income growth averaged 0.8 percent in the fourth quarter of 2011, the same as in the third quarter. Growth ranged from 0.5 percent in Wisconsin to 1.5 percent in North Dakota. The inflation rate fell to 0.3 percent in the fourth quarter of 2011 from 0.6 percent in the third quarter.
Private nonfarm earnings accounted for almost all of the growth in personal income in the fourth quarter in most states. Mining earnings grew 9.0 percent, faster than every other industry, and accounted for the bulk of the growth in the six fastest growing states: North Dakota, Wyoming, Oklahoma, Texas, Louisiana, and West Virginia.
1NOTE.— Quarter-to-quarter percent changes are calculated from unrounded data and are not annualized. Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Quarter-to-quarter dollar changes are differences between published estimates.
Definitions
Personal income is the income received by all persons from all sources. Personal income is the sum of net earnings by place of residence, property income, and personal current transfer receipts. Property income is rental income of persons, personal dividend income, and personal interest income. Net earnings is earnings by place of work (the sum of wage and salary disbursements, supplements to wages and salaries, and proprietors’ income) less contributions for government social insurance, plus an adjustment to convert earnings by place of work to a place-of-residence basis. Personal income is measured before the deduction of personal income taxes and other personal taxes and is reported in current dollars (no adjustment is made for price changes).
Per capita personal income is calculated as the total personal income of the residents of a state divided by the population of the state. In computing per capita personal income, BEA uses the Census Bureau’s annual midyear population estimates.
Disposable personal income is personal income less personal current taxes. It is the portion of personal income that is available for spending and saving.
The estimate of personal income in the United States is derived as the sum of the state estimates and the estimate for the District of Columbia; it differs from the estimate of personal income in the national income and product accounts (NIPAs) because of differences in coverage, in the methodologies used to prepare the estimates, and in the timing of the availability of source data.
BEA groups all 50 states and the District of Columbia into eight distinct regions for purposes of data collecting and analyses: New England (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont); Mideast (Delaware, District of Columbia, Maryland, New Jersey, New York, and Pennsylvania); Great Lakes (Illinois, Indiana, Michigan, Ohio, and Wisconsin); Plains (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota); Southeast (Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia); Southwest (Arizona, New Mexico, Oklahoma, and Texas); Rocky Mountain (Colorado, Idaho, Montana, Utah, and Wyoming); and Far West (Alaska, California, Hawaii, Nevada, Oregon, and Washington).
BEA’s national, international, regional, and industry estimates; the Survey of Current Business; and BEA news releases are available without charge on BEA’s Web site at www.bea.gov. By visiting the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements.
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Next state personal income release – June 27, 2012, at 8:30 A.M. for state personal income, first quarter 2012.