Federal COVID-19 stimulus programs led to double-digit personal income growth in Louisiana for the first quarter of the year, according to a new report, but employment earnings essentially remained unchanged.
The Pew Charitable Trusts released a state trend analysis last week detailing income growth during the COVID-19 pandemic. The results indicate a sharp increase because of government relief payments, which the research organization described as record growth, The Center Square reports.
However, earnings—defined as wages from work, employer-sponsored health benefits, business profits and other forms of compensation—fell in Louisiana by 0.2%.
Louisiana was one of only eight states that did not see an earnings increase from the first quarter of 2020 through the first quarter of 2021, though the state registered a 15.3% income boost because of multiple stimulus payments during the period.
Using data from the U.S. Bureau of Economic Analysis, researchers showed Louisiana had a 1.1% increase in personal income growth from 2007 to 2019. The recent dramatic upswing was wholly attributed to “the injection of federal aid,” which researchers warned was temporary. Read the full story.