Ten Poorest States In America By Income

0
Ten Poorest States In America By Income
<a href="https://pixabay.com/users/pasja1000/">pasja1000</a> / Pixabay

In the U.S., the average median household income was 65,712 in 2019, as per the U.S. Census Bureau’s American Community Survey. However, this figure of average median household income varies significantly among the states. The average income in some states is much more than the national average, while for some, the average is much less. Detailed in the article are the ten poorest states in America on the basis of income.

[soros]

Q4 2020 hedge fund letters, conferences and more

Despite 60% Loss On Shorts, Yarra Square Up 20% In 2020

Yarra Square Investing Greenhaven Road CapitalYarra Square Partners returned 19.5% net in 2020, outperforming its benchmark, the S&P 500, which returned 18.4% throughout the year. According to a copy of the firm's fourth-quarter and full-year letter to investors, which ValueWalk has been able to review, 2020 was a year of two halves for the investment manager. Q1 2021 hedge fund Read More


Ten Poorest States In America

We have used the latest available U.S. Census Bureau’s American Community Survey data (on median household income) to come up with our list of the ten poorest states in America. Following are the ten poorest states in America on the basis of income:

  1. Oklahoma ($51,424)

Oklahoma is a major producer of beef, hogs and wheat, along with oil and natural gas. The state has a population of about 4 million people, which has grown by about 5.5% in the last decade. The unemployment rate in the state is 5.3%, while 11.6% of families have income below the poverty level. About 7.1% of households earn less than $10,000, while just 4% earn over $200,000.

  1. South Carolina ($51,015)

A significant portion of the state’s revenue comes from broiler chicken production. South Carolina also grows greenhouse and nursery products and peaches. The state is also among the biggest mining producers of mica. The unemployment rate in the state is 6.4%, while 11.7% of families have income below the poverty level. About 7.7% of households earn less than $10,000, while just 4% earn over $200,000.

  1. Tennessee ($50,972)

Tennessee is known for its whiskey, music and mountainous landscapes. Its population has grown by 7.6% since 2010 and currently has about 6.8 million people. The median earnings of the workers in the state is $30,695. The unemployment rate in the state is 5.9%, while 11.9% of families have income below the poverty level. About 7.4% of households earn less than $10,000, while just 4.3% earn over $200,000.

  1. Alabama ($48,486)

Alabama is known for its music, hot weather and Civil Rights history. The state has a population of 4.9 million people, and the rate has grown by 2.6% in the last decade or so. The unemployment rate in the state is 6.6%, while 13.0% of families have income below the poverty level. About 8.8% of the households earn less than $10,000, while just 3.7% earn over $200,000.

  1. Kentucky ($48,392)

Known as the Bluegrass State, Kentucky is known for horse racing, food and bourbon. The unemployment rate in the state is 6.1%, while 13.5% of families have income below the poverty level. About 8.8% of the households earn less than $10,000, while just 3.5% earn over $200,000.

  1. New Mexico ($48,059)

Hospitality, tourism, restaurants, as well as oil and gas production, are the biggest contributor to New Mexico’s economy. The unemployment rate in the state is 7.2%, while 15.3% of families have income below the poverty level. About 9.2% of the households earn less than $10,000, while just 3.7% earn over $200,000. New Mexico’s population is just over 2 million, and has grown by just 1.8% in the last decade.

  1. Louisiana ($47,942)

Louisiana leads the country when it comes to shrimp production, and is among the top states in commercial fishing. However, international competition and the Bonnet Carre spillway (flood prevention plan that poured fresh water into saltwater fisheries) is hurting the states’ seafood industry. The unemployment rate in the state is 6.9%, while 14.6% of families have income below the poverty level. About 9.6% of the households earn less than $10,000, while just 4.3% earn over $200,000.

  1. Arkansas ($45,726)

Agriculture is the biggest industry in the state, with farmland accounting for 41% of its territory. About two-third of the state’s agricultural economy is related to livestock production. Arkansas is home to almost 6,000 poultry farms. The unemployment rate in the state is 5.5%, while 12.9% of families have income below the poverty level. About 8.1% of the households earn less than $10,000, while just 3.3% earn over $200,000.

  1. West Virginia ($44,921)

West Virginia has struggled lately due to the loss of manufacturing jobs and a decline in the nation’s coal industry. Its labor participation rate of 53.8% is the lowest in the country. The unemployment rate in the state is 6.7%, while 13% of families have income below the poverty level. About 9% of the households earn less than $10,000, while just 2.7% earn over $200,000.

  1. Mississippi ($43,567)

In recent years, Mississippi has lagged behind other states on many economic fronts, be it job growth, poverty and more. A major reason for this is education. Mississippi ranks among the lowest when it comes to residents with high school diplomas and college degrees. The unemployment rate in the state is 8.2%, while 15.9% of families have income below the poverty level. More than 10% of the households earn less than $10,000, while just 2.7% earn over $200,000.

No posts to display