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The Commerce Department reports that total personal income in New Hampshire declined 0.5% between the last quarter of 2008($56,525,000) and the first quarter of 2009 ($56,245,000). Incomes in the US declined at the same rate.
If you prefer to see the glass half-full, personal income in the first quarter of 2009 is higher than it was in the first quarter of 2009 ($56,029,000).
Regionally, Connecticut saw the greatest decline, 1.2%,and Maine saw the greatest increase, 0.2%. Vermont dropped 0.2%, Massachusetts and Rhode Island both dropped 0.6%.
Get all the details for yourself
http://www.bea.gov/newsreleases/regional/spi/sqpi_newsrelease.htm
With hundreds of thousands of jobless people about to run out of all benefits, congress has moved to extend unemployment benefits by 14 weeks nationwide for those whose relief has run out, and up to 20 weeks in states — 26 currently — where the unemployment rate is over 8.5 percent.
For the moment, the extra 14 weeks is the number that applies in NH.
The legislation also continues the $8,000 tax credit for first-time home buyers for another five months. It creates a new $6,500 tax credit for certain homeowners who want to buy another home.
At a recent talk to the Business and Professional Women organization I focused on two related issues: If this recession was our Katrina, how much damage did it inflict on the economic infrastructure? One thing we don't know is when credit markets will recover.
So it was with some interest that I read this article in the Washington Post. I think it captures our current economic situation, nationally, and points our eyes in the right direction as we look for signs of true recovery.