16 States Where Incomes Are Booming

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16. North Carolina
> Personal income growth (2012-2017): +12.5%
> Per-capita personal income: $42,421 (18th lowest)
> Employment growth (2012-2017): +10.8% (14th largest increase)
> GDP growth (2012-2017): +10.5% (15th largest increase)

North Carolina’s population grew at a 5.0% pace between 2012 and 2017 as the state attracted nearly 475,000 new residents. With North Carolina’s personal income increasing by 12.5% since 2012, financial prosperity may have been a driving factor in migration.

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15. Hawaii
> Personal income growth (2012-2017): +12.5%
> Per-capita personal income: $39,062 (7th lowest)
> Employment growth (2012-2017): +7.7% (19th largest increase)
> GDP growth (2012-2017): +9.5% (23rd largest increase)

Though Hawaii is often considered a vacation destination, it is also has one of the best job markets in the country. Hawaii’s annual unemployment rate of just 2.4% is the lowest in the nation. As more people in the labor force find work, personal income increases.

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14. Michigan
> Personal income growth (2012-2017): +12.6%
> Per-capita personal income: $43,192 (21st lowest)
> Employment growth (2012-2017): +8.4% (17th largest increase)
> GDP growth (2012-2017): +10.1% (17th largest increase)

Michigan’s economy has undergone a significant turnaround in recent years. The state’s unemployment improved significantly, dropping from 10.4% in 2011 to 4.6% in 2017. This may be partly behind the state’s 12.6% increase in personal income since 2012.

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13. Delaware
> Personal income growth (2012-2017): +12.7%
> Per-capita personal income: $43,658 (25th lowest)
> Employment growth (2012-2017): +8.6% (16th largest increase)
> GDP growth (2012-2017): +7.9% (23rd smallest increase)

No state has a higher share of workers in the financial sector than Delaware. Some 10.5% of the state’s labor force works in the finance sector, a generally high-paying industry. Employment in Delaware’s finance industry grew by 5.7% over the last decade, one of the higher growth rates for the industry nationwide.

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12. Tennessee
> Personal income growth (2012-2017): +12.8%
> Per-capita personal income: $43,701 (25th highest)
> Employment growth (2012-2017): +10.9% (13th largest increase)
> GDP growth (2012-2017): +12.3% (11th largest increase)

Tennessee added over 80,000 professional and business service jobs over the last 10 years, a 25.8% increase. The professional and business service sector is one of the higher-paying industries, and the industry’s employment increase likely contributed to the Volunteer State’s 12.8% increase in personal income since 2012.