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Income growth outpaces economy in NH

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According to the U.S. Bureau of Economic Analysis, household income grew faster than the economy overall in New Hampshire in 2015.

From 2014 to 2015, median household income in New Hampshire grew almost 6%.  The state’s Gross Domestic Product, the total value of goods and services provided in a year, only grew 0.8%. 

This is the largest gap between GDP growth and median income growth in several years in New Hampshire.

This difference can be a sign that the lower and middle classes are getting a larger share of economic growth, decreasing income inequality.   

Median household income does not capture other forms of compensation, however, such as health insurance and stock options.  It is possible that those other types of income were growing just as much in previous years, making this year’s median income growth less remarkable.

Do you think your income has matched economic growth in New Hampshire?  Let us know in the comments.

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