R.I. personal income rises 62.5% in Q2

ANNUALIZED PERSONAL INCOME in Rhode Island increased 62.5% from the first quarter to the second quarter, bolstered by unemployment boosts and individual payments from the federal CARES Act. / COURTESY U.S. BUREAU OF ECONOMIC ANALYSIS
ANNUALIZED PERSONAL INCOME in Rhode Island increased 62.5% from the first quarter to the second quarter, bolstered by unemployment boosts and individual payments from the federal CARES Act. / COURTESY U.S. BUREAU OF ECONOMIC ANALYSIS
PROVIDENCE – Personal income in Rhode Island increased by an annualized rate of 62.5% in the second quarter, the fifth-highest rate of increase in the country, according the Bureau of Economic Analysis said on Thursday. The increase from the previous quarter was in part was due to augmented unemployment payments, as well as the disbursement…

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