Introduction
Carroll County vs. New Hampshire
Carroll County:
2022 TPI = $3,710,382K
2022 Percent of State = 3.60%
New Hampshire:
2022 TPI = $103,121,917K
2022 Percent of U.S. = 0.47%
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 county patterns of economic growth and change.
The following graphs highlight trends in the pattern of growth and change in the total personal income of Carroll County and New Hampshire with comparison to the nation. 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 received by persons from participation in production, plus transfer receipts from government and business, plus government interest (which is treated like a transfer receipt). It is defined as the sum of wages and salaries, 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. Because the personal income of an area represents the income that is received by, or on behalf of, all the persons who live in that area, and because the estimates of some components of personal income (wages and salaries, supplements to wages and salaries, and contributions for government social insurance) are made on a place-of-work basis, state personal income includes an adjustment for residence. The residence adjustment represents the net flow of compensation (less contributions for government social insurance) of interstate commuters.
Page 2 of 13
Carroll County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Carroll County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Carroll County's annual total personal income over 1970-2022 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 Carroll County over time.
When measured in current dollars, Carroll County's total personal income increased 4,852.92%, from $75M in 1970 to $3,710M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 743.65%, from $379M in 1970 to $3,197M in 2022.
Page 3 of 13
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks Carroll County's and New Hampshire's annual real total personal income for the period 1969-2022 to illustrate real total personal income patterns over time. During this 54-year period, Carroll County's real total personal income rose from $377M in 1969 to $3,197M in 2022, for a net gain of $2,821M, or 748.97%. In comparison, New Hampshire's real total personal income advanced from $14,729M in 1969 to $88,865M in 2022, for a net advance of $74,136M, or 503.32%.
Page 4 of 13
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Carroll County's real total personal income growth in a broader context by offering direct comparisons across time with New Hampshire, the United States. The growth indices shown here express each region's real total personal income in 1969 as a base figure of 100, and the real total personal incomes in later years as a percentage of the 1969 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.
Carroll County's overall real total personal income growth was 748.97% over 1969-2022 outpaced New Hampshire's increase of 503.32%, and outpaced the United States' increase of 348.76%.
Page 5 of 13
Total Personal Income as a Percent of the New Hampshire Total: 1969-2022
Total Personal Income as a Percent of the New Hampshire Total: 1969-2022
Figure 4.
Another interesting and insightful way of comparing the total personal income growth of Carroll County is to compare its individual percentage contributions to New Hampshire's statewide total personal income over time, as shown in Figure 4. A rising share means a region's total personal income grew faster, or declined less, than New Hampshire's total personal income, while a declining share shows it grew more slowly.
In 1969, Carroll County's total personal income totaled 2.56% of New Hampshire's total personal income, while in 2022 it comprised 3.60% thereby yielding a +1.04% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
+1.04%
=
3.60%
-
2.56%
 
   
Page 6 of 13
Carroll County Real Total Personal Income:
Annual Percent Change, 1970-2022
Carroll County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Carroll County's real total personal income growth by tracking the year-to-year percent change over 1970-2022. The average annual percent change for the entire 53-year period is also illustrated 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, Carroll County's real total personal income grew at an annual rate of 4.19% over 1970-2022. The county recorded its highest growth in 1986 (12.14%) and recorded its lowest growth in 1990 (-5.12%). In 2022, Carroll County's real total personal income declined by -3.97%
Page 7 of 13
Carroll County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Carroll County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Figure 6.
Over the past five decades some counties have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 6 again illustrates the annual percent change in Carroll County's real total personal income since 1970, but this time they are displayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.
During the 1970s, Carroll County's annual real total personal income growth rate averaged 5.94%. It averaged 7.02% throughout the 1980s, 3.33% throughout the 1990s, 2.20% in the 2000s, 2.94% in the 2010s, 2.60% thus far this decade (2020-2022).
Page 8 of 13
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Carroll County noted in the previous graph with the corresponding decade averages for New Hampshire and the nation. As the chart reveals, Carroll County's average annual real total personal income growth outgained New Hampshire's average in the 1970s (5.94% vs. 4.63%), surpassed New Hampshire's average in the 1980s (7.02% vs. 5.63%), surpassed New Hampshire's average during the 1990s (3.33% vs. 3.15%), registered above New Hampshire's average during the 2000s (2.20% vs. 2.18%), exceeded New Hampshire's average during the 2010s (2.94% vs. 2.42%), and topped New Hampshire's average over the 3 year period of the current decade, 2020-2022 (2.60% vs. 1.67%).
Finally, relative to nationwide real total personal income growth trends, Carroll County surpassed the nation in the 1970s (5.94% vs. 3.50%), registered above the nation in the 1980s (7.02% vs. 3.16%), topped the nation during the 1990s (3.33% vs. 3.27%), outpaced the nation over the 2000s (2.20% vs. 2.06%), recorded above the nation throughout the 2010s (2.94% vs. 2.72%), and surpassed the nation over 2020-2022 (2.60% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
4.19
5.94
7.02
3.33
2.20
2.94
2.60
-3.97
 
3.49
4.63
5.63
3.15
2.18
2.42
1.67
-3.33
 
2.89
3.50
3.16
3.27
2.06
2.72
2.10
-4.19
 
   
Page 9 of 13

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

   
 
Carroll County:
Total Personal Income, 1969-2022
 
1969
 
71,118
0.189
376,624
100.0
N
2.56
1970
 
74,913
0.198
378,999
100.6
0.63
2.53
1971
 
85,140
0.206
413,201
109.7
9.02
2.64
1972
 
96,866
0.213
454,599
120.7
10.02
2.72
1973
 
110,933
0.225
494,024
131.2
8.67
2.76
1974
 
122,528
0.248
494,204
131.2
0.04
2.77
1975
 
135,149
0.269
503,161
133.6
1.81
2.81
1976
 
156,878
0.283
553,694
147.0
10.04
2.89
1977
 
179,463
0.302
594,721
157.9
7.41
2.92
1978
 
205,754
0.323
637,483
169.3
7.19
2.90
1979
 
234,344
0.351
666,830
177.1
4.60
2.89
1980
 
268,054
0.389
688,589
182.8
3.26
2.89
1981
 
311,260
0.424
733,844
194.8
6.57
2.96
1982
 
336,036
0.448
750,566
199.3
2.28
2.91
1983
 
365,097
0.467
782,194
207.7
4.21
2.87
1984
 
420,741
0.484
868,600
230.6
11.05
2.93
1985
 
466,576
0.501
930,769
247.1
7.16
2.95
1986
 
534,620
0.512
1,043,792
277.1
12.14
3.06
1987
 
611,153
0.528
1,157,443
307.3
10.89
3.17
1988
 
691,262
0.549
1,259,933
334.5
8.85
3.24
1989
 
748,828
0.573
1,307,745
347.2
3.79
3.28
1990
 
741,678
0.598
1,240,783
329.4
-5.12
3.22
1991
 
771,918
0.618
1,249,584
331.8
0.71
3.24
1992
 
805,458
0.634
1,270,038
337.2
1.64
3.23
1993
 
825,349
0.650
1,269,768
337.1
-0.02
3.20
1994
 
898,362
0.664
1,353,852
359.5
6.62
3.27
1995
 
940,095
0.678
1,387,512
368.4
2.49
3.22
1996
 
998,797
0.692
1,443,286
383.2
4.02
3.23
1997
 
1,092,060
0.704
1,551,067
411.8
7.47
3.28
1998
 
1,213,738
0.710
1,710,285
454.1
10.27
3.32
1999
 
1,296,064
0.720
1,800,064
477.9
5.25
3.33
2000
 
1,444,542
0.738
1,956,791
519.6
8.71
3.30
2001
 
1,579,413
0.753
2,097,438
556.9
7.19
3.42
2002
 
1,639,639
0.763
2,149,191
570.6
2.47
3.49
2003
 
1,634,064
0.779
2,097,805
557.0
-2.39
3.42
2004
 
1,729,572
0.798
2,166,650
575.3
3.28
3.41
2005
 
1,762,856
0.821
2,146,500
569.9
-0.93
3.36
2006
 
1,841,946
0.844
2,181,367
579.2
1.62
3.28
2007
 
1,891,348
0.866
2,183,828
579.8
0.11
3.24
2008
 
1,979,603
0.892
2,220,033
589.5
1.66
3.29
2009
 
1,978,871
0.889
2,225,426
590.9
0.24
3.33
2010
 
2,035,224
0.905
2,248,518
597.0
1.04
3.29
2011
 
2,150,912
0.928
2,317,693
615.4
3.08
3.31
2012
 
2,239,444
0.945
2,368,930
629.0
2.21
3.33
2013
 
2,305,874
0.958
2,407,444
639.2
1.63
3.44
2014
 
2,346,201
0.971
2,415,750
641.4
0.35
3.37
2015
 
2,474,228
0.973
2,542,912
675.2
5.26
3.40
2016
 
2,580,743
0.983
2,625,802
697.2
3.26
3.43
2017
 
2,749,186
1.000
2,749,186
730.0
4.70
3.49
2018
 
2,855,413
1.020
2,798,135
743.0
1.78
3.47
2019
 
3,073,987
1.035
2,969,663
788.5
6.13
3.50
2020
 
3,317,972
1.046
3,170,996
842.0
6.78
3.55
2021
 
3,629,323
1.090
3,329,624
884.1
5.00
3.62
2022
 
3,710,382
1.160
3,197,420
849.0
-3.97
3.60
Source: Calculations by the New Hampshire Regional Economic Analysis Project (NH-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_300_PSN
 
   
Page 10 of 13

Interactive TableTip: 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, 1969-2022
 
1969
 
2,781,338
0.189
14,729,323
100.0
N
0.35
1970
 
2,965,678
0.198
15,003,936
101.9
1.86
0.35
1971
 
3,220,121
0.206
15,627,862
106.1
4.16
0.35
1972
 
3,561,963
0.213
16,716,552
113.5
6.97
0.35
1973
 
4,013,324
0.225
17,872,741
121.3
6.92
0.35
1974
 
4,417,159
0.248
17,816,154
121.0
-0.32
0.35
1975
 
4,802,304
0.269
17,879,017
121.4
0.35
0.35
1976
 
5,435,993
0.283
19,186,083
130.3
7.31
0.36
1977
 
6,146,446
0.302
20,368,657
138.3
6.16
0.37
1978
 
7,090,723
0.323
21,969,027
149.2
7.86
0.38
1979
 
8,112,454
0.351
23,084,125
156.7
5.08
0.39
1980
 
9,281,841
0.389
23,843,611
161.9
3.29
0.40
1981
 
10,505,789
0.424
24,769,042
168.2
3.88
0.41
1982
 
11,561,572
0.448
25,823,797
175.3
4.26
0.42
1983
 
12,714,437
0.467
27,239,774
184.9
5.48
0.43
1984
 
14,352,938
0.484
29,630,954
201.2
8.78
0.44
1985
 
15,831,032
0.501
31,581,216
214.4
6.58
0.45
1986
 
17,499,716
0.512
34,166,454
232.0
8.19
0.47
1987
 
19,284,762
0.528
36,522,787
248.0
6.90
0.49
1988
 
21,307,463
0.549
38,836,167
263.7
6.33
0.50
1989
 
22,825,338
0.573
39,861,927
270.6
2.64
0.50
1990
 
23,004,987
0.598
38,485,967
261.3
-3.45
0.47
1991
 
23,818,174
0.618
38,556,956
261.8
0.18
0.47
1992
 
24,951,886
0.634
39,343,876
267.1
2.04
0.46
1993
 
25,765,166
0.650
39,638,717
269.1
0.75
0.46
1994
 
27,503,132
0.664
41,447,845
281.4
4.56
0.46
1995
 
29,175,950
0.678
43,061,590
292.4
3.89
0.46
1996
 
30,892,592
0.692
44,640,539
303.1
3.67
0.46
1997
 
33,286,146
0.704
47,276,757
321.0
5.91
0.47
1998
 
36,597,456
0.710
51,569,682
350.1
9.08
0.48
1999
 
38,930,190
0.720
54,068,957
367.1
4.85
0.49
2000
 
43,796,122
0.738
59,326,653
402.8
9.72
0.51
2001
 
46,179,929
0.753
61,326,298
416.4
3.37
0.51
2002
 
46,972,303
0.763
61,569,914
418.0
0.40
0.51
2003
 
47,832,952
0.779
61,407,749
416.9
-0.26
0.50
2004
 
50,732,988
0.798
63,553,670
431.5
3.49
0.51
2005
 
52,464,303
0.821
63,881,918
433.7
0.52
0.50
2006
 
56,084,854
0.844
66,419,770
450.9
3.97
0.50
2007
 
58,305,527
0.866
67,321,957
457.1
1.36
0.49
2008
 
60,153,763
0.892
67,459,642
458.0
0.20
0.48
2009
 
59,381,531
0.889
66,780,098
453.4
-1.01
0.49
2010
 
61,880,875
0.905
68,366,081
464.1
2.37
0.49
2011
 
64,888,948
0.928
69,920,422
474.7
2.27
0.49
2012
 
67,318,055
0.945
71,210,416
483.5
1.84
0.48
2013
 
67,121,768
0.958
70,078,375
475.8
-1.59
0.48
2014
 
69,630,452
0.971
71,694,538
486.7
2.31
0.47
2015
 
72,779,569
0.973
74,799,915
507.8
4.33
0.47
2016
 
75,228,976
0.983
76,542,444
519.7
2.33
0.47
2017
 
78,660,960
1.000
78,660,960
534.0
2.77
0.47
2018
 
82,353,730
1.020
80,701,765
547.9
2.59
0.47
2019
 
87,706,343
1.035
84,729,786
575.2
4.99
0.48
2020
 
93,582,021
1.046
89,436,633
607.2
5.56
0.48
2021
 
100,196,849
1.090
91,922,871
624.1
2.78
0.47
2022
 
103,121,917
1.160
88,865,263
603.3
-3.33
0.47
Source: Calculations by the New Hampshire Regional Economic Analysis Project (NH-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_300_PSN
 
   
Page 11 of 13

Interactive TableTip: 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, 1969-2022
 
1969
 
791,229,000
0.189
4,190,165,758
100.0
N
1970
 
855,525,000
0.198
4,328,265,709
103.3
3.30
1971
 
924,613,000
0.206
4,487,323,465
107.1
3.67
1972
 
1,016,408,000
0.213
4,770,076,966
113.8
6.30
1973
 
1,133,468,000
0.225
5,047,731,018
120.5
5.82
1974
 
1,244,912,000
0.248
5,021,223,733
119.8
-0.53
1975
 
1,362,505,000
0.269
5,072,617,275
121.1
1.02
1976
 
1,495,704,000
0.283
5,279,017,400
126.0
4.07
1977
 
1,651,632,000
0.302
5,473,329,799
130.6
3.68
1978
 
1,855,849,000
0.323
5,749,934,936
137.2
5.05
1979
 
2,073,296,000
0.351
5,899,598,782
140.8
2.60
1980
 
2,313,972,000
0.389
5,944,235,512
141.9
0.76
1981
 
2,590,995,000
0.424
6,108,676,176
145.8
2.77
1982
 
2,777,640,000
0.448
6,204,105,336
148.1
1.56
1983
 
2,969,333,000
0.467
6,361,584,112
151.8
2.54
1984
 
3,275,415,000
0.484
6,761,937,695
161.4
6.29
1985
 
3,508,482,000
0.501
6,999,046,441
167.0
3.51
1986
 
3,717,756,000
0.512
7,258,548,586
173.2
3.71
1987
 
3,931,800,000
0.528
7,446,308,852
177.7
2.59
1988
 
4,264,433,000
0.549
7,772,592,728
185.5
4.38
1989
 
4,605,107,000
0.573
8,042,309,775
191.9
3.47
1990
 
4,897,332,000
0.598
8,192,943,538
195.5
1.87
1991
 
5,072,291,000
0.618
8,211,045,100
196.0
0.22
1992
 
5,406,546,000
0.634
8,524,985,809
203.5
3.82
1993
 
5,643,648,000
0.650
8,682,535,385
207.2
1.85
1994
 
5,933,938,000
0.664
8,942,579,420
213.4
3.00
1995
 
6,278,125,000
0.678
9,266,058,093
221.1
3.62
1996
 
6,660,854,000
0.692
9,625,094,288
229.7
3.87
1997
 
7,068,422,000
0.704
10,039,373,926
239.6
4.30
1998
 
7,584,003,000
0.710
10,686,661,406
255.0
6.45
1999
 
7,978,449,000
0.720
11,081,025,264
264.5
3.69
2000
 
8,620,234,000
0.738
11,677,052,911
278.7
5.38
2001
 
8,990,104,000
0.753
11,938,732,039
284.9
2.24
2002
 
9,146,700,000
0.763
11,989,225,466
286.1
0.42
2003
 
9,474,684,000
0.779
12,163,560,736
290.3
1.45
2004
 
10,008,929,000
0.798
12,538,275,270
299.2
3.08
2005
 
10,540,800,000
0.821
12,834,755,927
306.3
2.36
2006
 
11,291,446,000
0.844
13,372,153,008
319.1
4.19
2007
 
11,925,044,000
0.866
13,769,145,681
328.6
2.97
2008
 
12,423,410,000
0.892
13,932,275,429
332.5
1.18
2009
 
12,058,253,000
0.889
13,560,635,845
323.6
-2.67
2010
 
12,547,501,000
0.905
13,862,497,514
330.8
2.23
2011
 
13,299,818,000
0.928
14,331,082,712
342.0
3.38
2012
 
13,905,749,000
0.945
14,709,785,897
351.1
2.64
2013
 
14,063,283,000
0.958
14,682,748,144
350.4
-0.18
2014
 
14,778,160,000
0.971
15,216,235,418
363.1
3.63
2015
 
15,467,113,000
0.973
15,896,476,839
379.4
4.47
2016
 
15,884,741,000
0.983
16,162,082,333
385.7
1.67
2017
 
16,658,962,000
1.000
16,658,962,000
397.6
3.07
2018
 
17,514,402,000
1.020
17,163,073,878
409.6
3.03
2019
 
18,343,601,000
1.035
17,721,060,157
422.9
3.25
2020
 
19,609,985,000
1.046
18,741,324,605
447.3
5.76
2021
 
21,392,812,000
1.090
19,626,252,970
468.4
4.72
2022
 
21,820,248,000
1.160
18,803,588,325
448.8
-4.19
Source: Calculations by the New Hampshire Regional Economic Analysis Project (NH-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_300_PN
 
   
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