Personal income fell 0.5 percent in Q1 - Atlanta Business Chronicle:

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percent in the first quarter of 2009 on mountinvjob losses, falling interest rates and reduced corporate dividenc payments. The released regional income data Thursda y showing declines in 37 Georgia ranked 17th inpersonal income, up 0.5 percen to $327 billion in the first compared with $325.3 billio a year ago. Declines were offsef by inflation, which reduced the cost of livintgby 0.3 percent in the first quartef of the year. The BEA, a divisio of the U.S. Department of Commerce, said private sector earningse fell in all 50 states by an average of 1.4 percent Finance, manufacturing and construction were the majodr reasons for private sector income declines.
Healtnh care and government bothposted increases. Federall civilian and military employees receivesd average pay raisesof 3.9 percent in 2009, whichy helped to propel two government-dependent states to positive income growth: Hawaiii (up 0.8 percent) and Virginiz (up 0.3 percent). Alaska had the largest with personal income fallingby 3.2 percent becauser a special distribution of $2,00 from the state’s permanent fund won’t be repeated. Nortgh Dakota, Missouri, Iowa and Midwestg suffered because of falling farmcommodity prices.