Average Private Sector Wage Purchasing Power in New Hampshire Lower in April 2022 Than at the Start of the Recovery

Monthly estimates of private sector average wages in New Hampshire show that, relative to inflation faced by consumers in New England, wage growth has not consistently kept up with inflation during the last two years. These estimates show that the real purchasing power of Granite Staters earning the average private sector wage in April 2022 was 2.6 percent below purchasing power in January 2022 and 0.7 percent below purchasing power in May 2020, when hiring resumed following significant layoffs in April 2020. These data suggest even Granite Staters receiving wage increases may find regular expenses are outpacing their incomes.