16 states where residents' incomes grow the fastest
During the Great Recession, the gross domestic product of the United States declined by 4,3%. Since then, the economy began to recover, along with the growing labor market. The unemployment rate fell from 8,1% in 2012, to 4,4% in 2017, and total employment increased by more than 5 million people, writes USA Today.
Personal income also rose an average of 11,2% across the country. But the economic recovery in different states is different. Below is a list of states where there has been an increase in personal income.
1. Caroline: personal income growth (2012-2017): + 12,5%. The population of North Carolina increased by 5% between the years 2012 and 2017, as the state attracted about 475 thousands of new residents.
2. Hawaii: personal income growth (2012-2017): +12,5%. It's a very good job market in America. Hawaii's annual unemployment rate is just 2,4%, the lowest labor rate in the country.
3. Michigan: Personal income growth (2012-2017): + 12,6%. The country's unemployment rate has improved significantly, falling from 10,4% in the 2011 year to 4,6% in the 2017 year. Personal income growth began in 2012.
4. Delaware: personal income growth (2012-2017): + 12,7%. Delaware has the highest employment in the financial sector. About 10,5% of the state workforce is employed in the financial sector.
5. Tennessee: personal income growth (2012-2017): + 12,8%. Tennessee has added over 80 thousands of jobs over the past 10 years. The professional sector and the business sector is one of the highest paid sectors.
6. South Carolina: personal income growth (2012-2017): + 15,8%. The unemployment rate fell from 9,2% in the 2011 year to 4,3% in the 2017 year - this is the largest drop in the country. Employment in the state increased by 12,2%.
7. Florida: personal income growth (2012-2017): + 16,2%. The population of Florida has grown more than in any other state of the country. With 2010, 1,9 million people came to the state.
8. Georgia: personal income growth (2012-2017): + 16,6%. Georgia employment in the last 10 years increased by 5,3%.
9. California: personal income growth (2012-2017): + 16,6%. In this state, employment in the information industry has grown by 12% over the past 10 years.
10. Oregon: personal income growth (2012-2017): + 17,5%. The Oregon poverty rate fell from 17,2% in the 2012 year to 13,3% in the 2016 year.
11. Arizona: Personal income growth (2012-2017): + 18,1%. Over the past 10, the number of information workers in Arizona has increased by 8,7%, and in the financial industry, by 14,6%.
12. Washington: personal income growth (2012-2017): + 18,2%. Most likely, technology companies such as Amazon. The number of jobs over the past 10 years has increased by 23,5%.
13. Nevada: personal income growth (2012-2017): + 18,5%. The growth of personal income was most likely achieved due to an increase in employment in the education and health sector - by 43,6%.
14. Colorado: personal income growth (2012-2017): + 18,7%. The unemployment rate in this state fell by 5% from 2012 to 2017 a year. Over the past 10 years, staffing in the hospitality sector has increased - 63 has thousands of jobs.
15. Idaho: Personal income growth (2012-2017): + 19%. Idaho employment increased by 15,4%.
16. Utah: Personal income growth (2012-2017): + 20,9%. Utah personal incomes rose by 20,9% from 2012 of the year. This is the highest among all 50 states.
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