Vermonters, let’s face facts: New Hampshire is an upside-down Vermont. Or, maybe more accurately, Vermont is the upside-down state,
and New Hampshire has been right-side up all along, but Vermont’s politicians never seem to have noticed. As it turns out, there’s some data to back this New England economic inversion up.
First, let’s take a look at the two states side-by-side, in terms of Median Household Income and the Unemployment Rate. While both Vermont and New Hampshire enjoy (“enjoy” being a relative word here) a low unemployment rate, there’s just a slight difference of note regarding incomes:
Now let’s take a look at New Hampshire:
So, if an enterprising young individual was looking to choose a state to live in, and had NH and Vermont to choose from, which state do you think would be more appealing? A $15,000 difference in median household income might be a deciding factor, no? Does Peter Shumlin tout New Hampshire’s low unemployment rate and higher incomes than Vermonters, since he’s always talking up Vermont’s low unemployment number?
Speaking of incomes, you can only spend what you take home. If given a choice, would you want to live in a state with a higher aggregate tax bite, or a lower one?
And how is New Hampshire so different? Take a look at a the ranking column:
Now let’s talk the size of the labor force. One state has an increasing labor force, while one sad, desolate state’s labor force is consistently decreasing. 10 bucks to the first person who can guess which state is suffering from labor force shrinkage. Go on, guess. I double-dog dare you. I perhaps might even triple-dog dare you.
First, let’s look at Vermont:
In short, New Hampshire has higher incomes, lower tax rates,
a similar unemployment rate, an increasing labor force, and an ongoing uptrend in
incomes versus Vermont’s stagnating income.
If given a choice, which state would you choose?