America’s three largest Democratic states, along with Rhode Island, Mississippi, Louisiana and the District of Columbia experienced income declines in the last year while the nation as a whole saw incomes rise by 2%. New York incomes suffered the worst, declining 1.6%, while California incomes declined the least, at just 0.2%.
These figures come from the Bureau of Economic Analysis’s revised numbers for 2022, which also reduced national growth from 2.1% to 1.9%, a cut in reported growth of roughly 10%.
Read More