Census shows decline in Vt. household income
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The Associated Press - Published: August 28, 2008
MONTPELIER — New U.S. Census Bureau figures indicate Vermont's median household income has been dropping through the middle of this decade.
Census figures show that median household income in Vermont dropped from $52,902 in 2004-2005 to $50,423 in 2006 and 2007. That 4.7 percent decline was the second-steepest drop in the country, topped only by North Carolina.
University of Vermont economics professor Art Woolf called that a big decline and said it's surprising, given that state tax revenues continue to grow.
Jason Gibbs, spokesman for Gov. James Douglas, said one explanation might be Vermont's aging population. As people retire, their incomes usually drop.
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