Should You live in a low income State? Livability Rankings

Low Income States Consistently Rated Worst States for Livability

We thought you might like to see a comparison of the Best and Worst States for Livability and the income rankings associated with each state.  Money may not buy happiness but the state you spend it in just might.

Best States for Livability and their Income Ranks

1.      New Hampshire                       $41,512          8
2.      Utah                                        $31,189         45
3.      Wyoming                                 $43,226          6
4.      Minnesota                                $41,034         11
5.      Iowa                                        $35,023         27

Worst States for Livability and their Income Ranks

50.     Mississippi                               $28,845          50
49.     South Carolina                         $31,013          47
48.     Kentucky                                  $31,111          46
47.     Tennessee                                $33,280          39
46.     Louisiana                                  $34,756          31
45.     West Virginia                           $29,537          49
Source:  U.S. Bureau of Economic Analysis
CQ Press 2008 State Livability Rankings

                State income data is for 2007.

The highest income state, Connecticut at $54,117, has a livability ranking of 11. New Jersey, with an average state income of $49,194, has a livability rank of 7.  New York, rated 24th on livability, was rated 4th in income and California was 30th on livability and 7th on income.   It appears very low income states are low on livability yet high income does not insure being rated a Best State for livability.  Utah is a outlier in that it ranks 2 in livability yet has one of the lowest state incomes.

In about 60 days new data will be released on state income levels for 2008.  Also CQ press does a nice study of state livability each year. We will keep you posted when the new data is released.  Review top income states when they are released.  High income does not insure high livability.
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State Unemployment Up in Every State in the Union, Wyoming Best, Michigan Worst State

State Unemployment Up in Every State in the Union, Wyoming Best, Michigan Worst State

State Unemployment Up in Every State of the Union

Michigan Surges to 10.6%.  Wyoming has lowest unemployment in nation at 3.4%.  Rhode Island  is the only other state with over 10.0%. California at 9.3% leaves millions of Californians unemployed. 

Texas was the only state that recorded a statistically significant year on year increase in the number of people working.  Employment increased by 153,000.   The largest statistically significant month over month decreases in employment were experienced in California (-78,000), Michigan (-59,000), New York (-54,000) and Illinois (-36,000).  Losing states show up in a number of areas for being unattractive to business.  See some of our other posts for info on state tax burdens, unionionization rates and attractiveness for business.

If you are looking for a job, the low unemployment states may provide work but you must be careful to understand the kind of industries and work that is available for your skill sets.  Most states have differing industries and worker needs.  Unemployment for December 2008  is listed below for all 50 states and District of Columbia.  The national unemployment rate is now at 7.2%

     Rank       State                                                                                                                                                                  

1 WYOMING 3.4
2 NORTH DAKOTA 3.5
3 SOUTH DAKOTA 3.9
4 NEBRASKA 4.0
5 UTAH 4.3
6 IOWA 4.6
6 NEW HAMPSHIRE 4.6
8 NEW MEXICO 4.9
8 OKLAHOMA 4.9
8 WEST VIRGINIA 4.9
11 KANSAS 5.2
12 MONTANA 5.4
12 VIRGINIA 5.4
14 HAWAII 5.5
15 MARYLAND 5.8
16 LOUISIANA 5.9
17 TEXAS 6.0
18 COLORADO 6.1
19 ARKANSAS 6.2
19 DELAWARE 6.2
19 WISCONSIN 6.2
22 IDAHO 6.4
22 VERMONT 6.4
24 ALABAMA 6.7
24 PENNSYLVANIA 6.7
26 ARIZONA 6.9
26 MASSACHUSETTS 6.9
26 MINNESOTA 6.9
29 MAINE 7.0
29 NEW YORK 7.0
31 CONNECTICUT 7.1
31 NEW JERSEY 7.1
31 WASHINGTON 7.1
34 MISSOURI 7.3
35 ALASKA 7.5
36 ILLINOIS 7.6
37 KENTUCKY 7.8
37 OHIO 7.8
39 TENNESSEE 7.9
40 MISSISSIPPI 8.0
41 FLORIDA 8.1
41 GEORGIA 8.1
43 INDIANA 8.2
44 NORTH CAROLINA 8.7
45 DISTRICT OF COLUMBIA 8.8
46 OREGON 9.0
47 NEVADA 9.1
48 CALIFORNIA 9.3
49 SOUTH CAROLINA 9.5
50 RHODE ISLAND 10.0
51 MICHIGAN 10.6

Source:  Bureau of Labor Statistics

Best and Worst Electricity Rates by State

Your electric bill is typically more than your gasoline bills. It can be even higher depending on the state you live.
The Energy Information Administration releases official energy statistics from the U.S. government.  Their site is www.eia.doe.gov.

Best States for Electricity (lowest rates)

1.  Idaho               7.3
2.  West Virginia    7.41
3.  Kentucky          7.82
3.  Washington      7.82
5.  Missouri           8.34

Worst States for Electricity  (highest rates)

50.  Hawaii            36.94
49.  Connecticut     20.24
48.  New York        19.42
47.  Rhode Island   18.13
46.  Massachusetts 17.85

Rates (cents per kilowatthour) were published in mid December 2008 and are residential rates for the month of September 2008.

The U.S. average is 11.94 up 9.1% from the previous year.

The Northeast has the highest rates.   If you are on a fixed income living, picking the best state to retire in can save a bundle.