United States Regional Economic Analysis Project

New Hampshire vs. United States
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2023

Introduction

New Hampshire:

2023 TPI = $110,683,698K

2023 Percent of U.S. = 0.47%

U.S.:

2023 TPI = $23,380,269,000K

The annual total personal incomes (TPI) estimates compiled by the Bureau of Economic Analysis, (BEA) are among the most comprehensive, consistent, comparable and timely measures of economic activity available statewide and at the national levels. Personal income estimates are also the best available local level indicator of general purchasing power, and are therefore central to tracking and comparing state patterns of economic growth and change.

The following graphs highlight trends in the pattern of growth and change in the total personal income of New Hampshire. The data used are those compiled by the Regional Income and Product Divisions of the Bureau of Economic Analysis, U.S. Department of Commerce. The 2017 constant dollar (real) estimates of total personal income reported in the tables and portrayed graphically below are determined using the Implicit Price Deflator for Personal Consumption.

Data Definition:

Personal Income is the income that is received by all persons from all sources. It is calculated as the sum of wage and salary disbursements, supplements to wages and salaries, proprietors' income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal dividend income, personal interest income, and personal current transfer receipts, less contributions for government social insurance. The personal income of an area is the income that is received by, or on behalf of, all the individuals who live in the area; therefore, the estimates of personal income are presented by the place of residence of the income recipients.

New Hampshire Total Personal Income, 1959-2023
Current vs. Constant Dollars (Millions)

Figure 1.

Figure 1 depicts New Hampshire's annual total personal income over 1959-2023 in current and constant (2017) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of New Hampshire over time.

When measured in current dollars, New Hampshire's total personal income increased 8,349.91%, from $1,310M in 1959 to $110,684M in 2023. When measured in constant 2017 dollars to adjust for inflation, it advanced 972.27%, from $8,567M in 1959 to $91,861M in 2023.

Real Total Personal Income Indices (1958=100): 1958-2023

Figure 2.

Figure 2 portrays New Hampshire's real total personal income growth in a broader context by offering direct comparisons across time with the United States. The growth indices shown here express each region's real total personal income in 1958 as a base figure of 100, and the real total personal incomes in later years as a percentage of the 1958 base figure. This method allows for more direct comparison of differences in real total personal income growth between regions that may differ vastly in size.

New Hampshire's overall real total personal income growth was 1,050.18% over 1958-2023 outpaced the United States' increase of 677.20%.

Total Personal Income as a Percent of the United States Total: 1958-2023

Figure 3.

Another interesting and insightful way of highlighting the total personal income growth of New Hampshire is to compare its individual percentage contributions to the United States' total total personal income over time, as shown in Figure 3. A rising share means a region's total personal income grew faster, or declined less, than the United States' total personal income, while a declining share shows it grew more slowly.

In 1958, New Hampshire's total personal income comprised 0.32% of the United States' total personal income, while in 2023 it equated to 0.47% thereby yielding a +0.15% share-shift.

Total Personal Income Share-Shift

2023 vs. 1958

	Share- Shift*		2023	vs.	1958
New Hampshire	+0.15%	=	0.47%	-	0.32%

*Percent figures may not add due to rounding by a factor of ± 0.01%.

New Hampshire Real Total Personal Income:
Annual Percent Change, 1959-2023

Figure 4.

Figure 4 displays the short-run pattern of New Hampshire's real total personal income growth by tracking the year-to-year percent change over 1959-2023. The average annual percent change for the entire 65-year period is also traced on this chart to provide a benchmark for gauging periods of relative high--and relative low--growth against the backdrop of the long-term average.

On average, New Hampshire's real total personal income grew at an annual rate of 3.87% over 1959-2023. The state posted its highest growth in 2000 (9.72%) and recorded its lowest growth in 2022 (-3.90%). In 2023, New Hampshire's real total personal income grew by 1.89%

New Hampshire Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2023

Figure 5.

Over the past six decades some states have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 5 again depicts the annual percent change in New Hampshire's real total personal income since 1959, but this time they are displayed with average growth rates for the decade of the 1960s, 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2023.

During the 1960s, New Hampshire's annual real total personal income growth rate averaged 5.58%. It averaged 4.63% during the 1970s, 5.63% during the 1980s, 3.15% during the 1990s, 2.18% during the 2000s, 2.42% in the 2010s, 2.10% thus far this decade (2020-2023).

Real Total Personal Income Growth:
Average Annual Percent Change by Decade

Figure 6.

Figure 6 compares the decade average growth rates for New Hampshire noted in the previous graph with the corresponding decade averages for the nation.

Relative to nationwide real total personal income growth trends, New Hampshire surpassed the nation during the 1960s (5.58% vs. 4.82%), outgained the nation in the 1970s (4.63% vs. 3.50%), outgained the nation throughout the 1980s (5.63% vs. 3.16%), lagged the nation throughout the 1990s (3.15% vs. 3.27%), recorded above the nation during the 2000s (2.18% vs. 2.06%), fell below the nation throughout the 2010s (2.42% vs. 2.72%), and recorded underneath the nation over 2020-2023 (2.10% vs. 2.34%).

Real* Total Personal Income Growth:

Average Annual Percent Change

	1959-2023	1960-1969	1970-1979	1980-1989	1990-1999	2000-2009	2010-2019	2020-2023	2023
	%	%	%	%	%	%	%	%	%
New Hampshire	3.87	5.58	4.63	5.63	3.15	2.18	2.42	2.10	1.89
United States	3.22	4.82	3.50	3.16	3.27	2.06	2.72	2.34	2.05

*Real total personal income growth determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

Interactive Table Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

New Hampshire:
Total Personal Income, 1958-2023


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Nationwide Total
1958	1,203,260	0.151	7,986,592	100.0	N	0.32
1959	1,309,880	0.153	8,566,906	107.3	7.27	0.33
1960	1,382,858	0.155	8,898,128	111.4	3.87	0.33
1961	1,456,125	0.157	9,273,500	116.1	4.22	0.33
1962	1,556,937	0.159	9,800,686	122.7	5.68	0.34
1963	1,624,661	0.161	10,105,499	126.5	3.11	0.33
1964	1,746,943	0.163	10,711,527	134.1	6.00	0.33
1965	1,883,836	0.165	11,386,823	142.6	6.30	0.33
1966	2,064,034	0.170	12,168,577	152.4	6.87	0.34
1967	2,254,816	0.174	12,966,910	162.4	6.56	0.34
1968	2,490,964	0.181	13,785,843	172.6	6.32	0.35
1969	2,781,338	0.189	14,729,323	184.4	6.84	0.35
1970	2,965,678	0.198	15,003,936	187.9	1.86	0.35
1971	3,220,121	0.206	15,627,862	195.7	4.16	0.35
1972	3,561,963	0.213	16,716,552	209.3	6.97	0.35
1973	4,013,324	0.225	17,872,741	223.8	6.92	0.35
1974	4,417,159	0.248	17,816,154	223.1	-0.32	0.35
1975	4,802,304	0.269	17,879,017	223.9	0.35	0.35
1976	5,435,993	0.283	19,186,083	240.2	7.31	0.36
1977	6,146,446	0.302	20,368,657	255.0	6.16	0.37
1978	7,090,723	0.323	21,969,027	275.1	7.86	0.38
1979	8,112,454	0.351	23,084,125	289.0	5.08	0.39
1980	9,281,841	0.389	23,843,611	298.5	3.29	0.40
1981	10,505,789	0.424	24,769,042	310.1	3.88	0.41
1982	11,561,572	0.448	25,823,797	323.3	4.26	0.42
1983	12,714,437	0.467	27,239,774	341.1	5.48	0.43
1984	14,352,938	0.484	29,630,954	371.0	8.78	0.44
1985	15,831,032	0.501	31,581,216	395.4	6.58	0.45
1986	17,499,716	0.512	34,166,454	427.8	8.19	0.47
1987	19,284,762	0.528	36,522,787	457.3	6.90	0.49
1988	21,307,463	0.549	38,836,167	486.3	6.33	0.50
1989	22,825,338	0.573	39,861,927	499.1	2.64	0.50
1990	23,004,987	0.598	38,485,967	481.9	-3.45	0.47
1991	23,818,174	0.618	38,556,956	482.8	0.18	0.47
1992	24,951,886	0.634	39,343,876	492.6	2.04	0.46
1993	25,765,166	0.650	39,638,717	496.3	0.75	0.46
1994	27,503,132	0.664	41,447,845	519.0	4.56	0.46
1995	29,175,950	0.678	43,061,590	539.2	3.89	0.46
1996	30,892,592	0.692	44,640,539	558.9	3.67	0.46
1997	33,286,146	0.704	47,276,757	592.0	5.91	0.47
1998	36,597,456	0.710	51,569,682	645.7	9.08	0.48
1999	38,930,190	0.720	54,068,957	677.0	4.85	0.49
2000	43,796,122	0.738	59,326,653	742.8	9.72	0.51
2001	46,179,929	0.753	61,326,298	767.9	3.37	0.51
2002	46,972,303	0.763	61,569,914	770.9	0.40	0.51
2003	47,832,952	0.779	61,407,749	768.9	-0.26	0.50
2004	50,732,988	0.798	63,553,670	795.8	3.49	0.51
2005	52,464,303	0.821	63,881,918	799.9	0.52	0.50
2006	56,084,854	0.844	66,419,770	831.6	3.97	0.50
2007	58,305,527	0.866	67,321,957	842.9	1.36	0.49
2008	60,153,763	0.892	67,459,642	844.7	0.20	0.48
2009	59,381,531	0.889	66,780,098	836.2	-1.01	0.49
2010	61,880,875	0.905	68,366,081	856.0	2.37	0.49
2011	64,888,948	0.928	69,920,422	875.5	2.27	0.49
2012	67,318,055	0.945	71,210,416	891.6	1.84	0.48
2013	67,121,768	0.958	70,078,375	877.5	-1.59	0.48
2014	69,630,452	0.971	71,694,538	897.7	2.31	0.47
2015	72,779,569	0.973	74,799,915	936.6	4.33	0.47
2016	75,228,976	0.983	76,542,444	958.4	2.33	0.47
2017	78,660,960	1.000	78,660,960	984.9	2.77	0.47
2018	82,353,730	1.020	80,701,765	1,010.5	2.59	0.47
2019	87,724,139	1.035	84,750,253	1,061.2	5.02	0.48
2020	93,113,912	1.046	88,984,157	1,114.2	5.00	0.48
2021	102,233,523	1.090	93,816,323	1,174.7	5.43	0.48
2022	104,683,632	1.161	90,158,238	1,128.9	-3.90	0.47
2023	110,683,698	1.205	91,860,552	1,150.2	1.89	0.47

1 1958 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the United States Regional Economic Analysis Project (US-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2024

REAP_PI_SA1400_300_PN

Interactive Table Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

United States:
Total Personal Income, 1958-2023


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change
1958	376,151,280	0.151	2,496,689,765	100.0	N
1959	400,328,786	0.153	2,618,239,281	104.9	4.87
1960	417,700,000	0.155	2,687,729,232	107.7	2.65
1961	436,047,000	0.157	2,777,015,667	111.2	3.32
1962	464,000,000	0.159	2,920,810,777	117.0	5.18
1963	487,780,000	0.161	3,034,023,761	121.5	3.88
1964	522,633,000	0.163	3,204,568,030	128.4	5.62
1965	564,444,000	0.165	3,411,774,662	136.7	6.47
1966	612,713,000	0.170	3,612,268,600	144.7	5.88
1967	656,828,000	0.174	3,777,261,487	151.3	4.57
1968	720,877,000	0.181	3,989,578,837	159.8	5.62
1969	791,229,000	0.189	4,190,165,758	167.8	5.03
1970	855,525,000	0.198	4,328,265,709	173.4	3.30
1971	924,613,000	0.206	4,487,323,465	179.7	3.67
1972	1,016,408,000	0.213	4,770,076,966	191.1	6.30
1973	1,133,468,000	0.225	5,047,731,018	202.2	5.82
1974	1,244,912,000	0.248	5,021,223,733	201.1	-0.53
1975	1,362,505,000	0.269	5,072,617,275	203.2	1.02
1976	1,495,704,000	0.283	5,279,017,400	211.4	4.07
1977	1,651,632,000	0.302	5,473,329,799	219.2	3.68
1978	1,855,849,000	0.323	5,749,934,936	230.3	5.05
1979	2,073,296,000	0.351	5,899,598,782	236.3	2.60
1980	2,313,972,000	0.389	5,944,235,512	238.1	0.76
1981	2,590,995,000	0.424	6,108,676,176	244.7	2.77
1982	2,777,640,000	0.448	6,204,105,336	248.5	1.56
1983	2,969,333,000	0.467	6,361,584,112	254.8	2.54
1984	3,275,415,000	0.484	6,761,937,695	270.8	6.29
1985	3,508,482,000	0.501	6,999,046,441	280.3	3.51
1986	3,717,756,000	0.512	7,258,548,586	290.7	3.71
1987	3,931,800,000	0.528	7,446,308,852	298.2	2.59
1988	4,264,433,000	0.549	7,772,592,728	311.3	4.38
1989	4,605,107,000	0.573	8,042,309,775	322.1	3.47
1990	4,897,332,000	0.598	8,192,943,538	328.2	1.87
1991	5,072,291,000	0.618	8,211,045,100	328.9	0.22
1992	5,406,546,000	0.634	8,524,985,809	341.5	3.82
1993	5,643,648,000	0.650	8,682,535,385	347.8	1.85
1994	5,933,938,000	0.664	8,942,579,420	358.2	3.00
1995	6,278,125,000	0.678	9,266,058,093	371.1	3.62
1996	6,660,854,000	0.692	9,625,094,288	385.5	3.87
1997	7,068,422,000	0.704	10,039,373,926	402.1	4.30
1998	7,584,003,000	0.710	10,686,661,406	428.0	6.45
1999	7,978,449,000	0.720	11,081,025,264	443.8	3.69
2000	8,620,234,000	0.738	11,677,052,911	467.7	5.38
2001	8,990,104,000	0.753	11,938,732,039	478.2	2.24
2002	9,146,700,000	0.763	11,989,225,466	480.2	0.42
2003	9,474,684,000	0.779	12,163,560,736	487.2	1.45
2004	10,008,929,000	0.798	12,538,275,270	502.2	3.08
2005	10,540,800,000	0.821	12,834,755,927	514.1	2.36
2006	11,291,446,000	0.844	13,372,153,008	535.6	4.19
2007	11,925,044,000	0.866	13,769,145,681	551.5	2.97
2008	12,423,410,000	0.892	13,932,275,429	558.0	1.18
2009	12,058,253,000	0.889	13,560,635,845	543.1	-2.67
2010	12,547,501,000	0.905	13,862,497,514	555.2	2.23
2011	13,299,818,000	0.928	14,331,082,712	574.0	3.38
2012	13,905,749,000	0.945	14,709,785,897	589.2	2.64
2013	14,063,283,000	0.958	14,682,748,144	588.1	-0.18
2014	14,778,160,000	0.971	15,216,235,418	609.5	3.63
2015	15,467,113,000	0.973	15,896,476,839	636.7	4.47
2016	15,884,741,000	0.983	16,162,082,333	647.3	1.67
2017	16,658,962,000	1.000	16,658,962,000	667.2	3.07
2018	17,514,402,000	1.020	17,163,073,878	687.4	3.03
2019	18,349,584,000	1.035	17,727,525,143	710.0	3.29
2020	19,600,945,000	1.046	18,731,610,936	750.3	5.66
2021	21,403,979,000	1.090	19,641,723,562	786.7	4.86
2022	22,077,232,000	1.161	19,013,902,214	761.6	-3.20
2023	23,380,269,000	1.205	19,404,162,137	777.2	2.05

1 1958 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the United States Regional Economic Analysis Project (US-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2024

REAP_PI_SA1400_300_PN

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