[Vision2020] Richest and poorest states

[Kenneth Marcy]

Richest and poorest states

*https://tinyurl.com/y8j883yx
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The U.S. Census Bureau released on Wednesday new data from its 2016
annual population survey — with largely positive findings. Most notable
among the survey’s findings is the significant increase in U.S. median
household income between 2014 and 2016 — more than in any two-year
period on record.

Not only did incomes go up nationwide, but the share of uninsured
Americans and the share of Americans facing serious financial hardship
declined. This year’s data release marks the first time in nearly three
decades that income, health insurance coverage, and poverty all improved
for two consecutive years.

Despite such improvements on the national scale, income inequality in
the U.S. remains high and incomes vary dramatically from state to state.
24/7 Wall St. ranked all 50 states according to the newly released
median household income figures. Many of the poorest states in the
country are concentrated in the South, while many of the wealthiest are
coastal states in the West, mid-Atlantic, and Northeast regions. The
typical household in the wealthiest state earns over $37,000 more a year
than the typical household in the poorest state.


Source: Thinkstock

*36. Idaho*
*> Median household income:* $51,807
*> Population:* 1,683,140 (12th lowest)
*> 2016 Unemployment rate:* 3.8% (11th lowest)
*> Poverty rate:* 14.4% (19th highest)

Though Idaho’s 2016 median household income remains lower than in most
states, it improved more than in nearly any other state. The typical
household in the state earned $51,807 in 2016, over $3,000 more than the
year before — more than double the $1,340 increase in median household
income nationwide over the same period.

Strong job growth and lower than typical unemployment in the state may
partially explain the improvement. The state’s unemployment fell from
4.2% in 2015 to 3.8% in 2016. In comparison, the U.S. unemployment rate
fell from 5.3% to 4.9% over the same period.


*https://tinyurl.com/y8j883yx
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*Ken*

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