How Rich is New Jersey?
Stacker.com has put out their list of the wealthiest states in the country. Turns out New Jersey is doing pretty well these days.
The list was derived from statistics that came out in a report put out by the Census Bureau's 1- Year Community Survey.
Obviously, a list like this also reveals the poorest states. Coming in dead last is Mississippi.
With an average median household income just below $49,000, Mississippi is well below the US average. The largest employer in Mississippi, with 17000 employees is Sanderson Farms.
Pennsylvania has an average median household income of $68,957 ranks 22nd nationally. Pennsylvania is currently enjoying low unemployment, however the number of adults participating in the workforce is also on the decline. Also, people are moving out of the commonwealth.
While New York and their average median household income of $74,314 is higher than the national average, they only rank 15th in the country. I'm not economist, but something that stood out to me is the cost of homes.
The median price of a home in New York City is over a half million dollars. Narrow that down to Manhattan and that number is just below a million.
New Jersey came in 4th on this list with a median household income of $89,296. New Jersey's income is 28% above the national average. One thing that stands out is the disparity in wages between men and women. The median income for men is roughly $14,000 more than women.
According to this report, Maryland is the wealthiest state in the nation. Their median household income of $90,203 is 29% higher than the national average.