Significant Statistics | Utah Leads the U.S. in Personal Income Growth
Written by: Erin Hernandez
In a year when one might expect Americans’ personal income to decrease, 2020 saw the greatest increase in personal income growth in 20 years. The pandemic and related economic shutdown inspired a far-reaching increase in governmental assistance. Policymakers focused on increasing funds for unemployment benefits and government transfers, more widely known as stimulus checks, in hopes of offsetting the impacts from a growing unemployment rate. This resulted in a nationwide personal income increase of 4.9%. … Continued