Measuring NH's recovery

According to a recent analysis from the Josiah Bartlett Center for Public Policy, New Hampshire is recovering from the recession slower than Massachusetts. However, that analysis may not show a complete picture of New Hampshire’s economy.

The analysis looks at employment (the number of employed adults), jobs (the number of employment positions), and labor force (the number of adults employed or looking for work). Employment and jobs decreased in New Hampshire and Massachusetts in 2008 and 2009. By June 2013, employment and jobs had returned to pre-recession levels in Massachusetts. New Hampshire, in contrast, only returned to pre-recession levels this year.

Employment, jobs, and labor force are not the only measure of economic recovery, however. Gross Domestic Product (the total dollar value of all goods and services produced over a specific time period) and personal income (wages and salaries plus any rental income, interest, dividends, etc.) are two other measures of economic health.

According to data from the U.S. Bureau of Economic Analysis, New Hampshire and Massachusetts both saw Gross Domestic Product (GDP) per capita fall in 2009. New Hampshire’s GDP per capita recovered a year before Massachusetts’, in 2010.

Personal income similarly decreased in New Hampshire and Massachusetts in 2009. New Hampshire’s personal income had rebounded by 2010; Massachusetts’ personal income did not recover until 2011.

Housing prices are another common measure of economic recovery. According to the Federal Housing Finance Agency, New Hampshire home prices are still lower than they were in 2008, while Massachusetts home prices have already rebounded to pre-recession levels.

Given all these different economic measures, how would you rate New Hampshire’s economic recovery compared to Massachusetts?  Add your comments below.