13 States Where Residents’ Income Has Grown Fastest

13. Tennessee

Street scene, Memphis, Tennessee.
f11photo / Shutterstock.com

Growth rate of combined personal income over the past year: 2.8%

Annual growth rate of combined personal income since the fourth quarter of 2007: 2.2%

Over the past couple of years, Tennessee has seen its median household income grow at a rate that beats the growth in other states in the Southeast. Gov. Bill Haslam credits the income growth to the establishment of higher-paying jobs becoming available in Tennessee.

The state’s unemployment rate is also low: 3.2% as of April — compared with 3.6% for the nation as a whole.

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