This Is the State Where Salaries Are Rising Fastest

This Is the State Where Salaries Are Rising Fastest

October 26, 2021

The U.S. Census Bureau keeps track of how much money Americans make each year. The data includes personal and household income. Recently, data was released from the 2020 census. There have been a number of comparisons to the 2010 census. It makes sense that there would be a tremendous increase in income between the two periods, as 2010 was in the latter part of the Great Recession.

Approve.com looked at salaries between 2010 and 2020 by state and at the percentage increases between the two years. Nationwide, it found incomes rose by 35% to $58,494, in a survey it titled “Surging Salaries.”

Among the primary conclusions about the 35% increase, according to the authors, was this:

This means that the growth in wages has outstripped inflation rates in the country, as wages would only have risen to $51,351 per year in line with inflation. Therefore, Americans could have more disposable income on average to save or put towards the procurement of goods and services.

Washington was the state with the highest increase, up 58.28% to $76,791. It was followed by California, where wages rose 49.16% to $79,480. The state with the smallest increase was Wyoming, where wages rose 21.5% to $50,986. The next lowest increase was in Louisiana, where wages rose 25.33% to $51,964.

All of the data was pulled from the Bureau of Labor Statistics.

These are the 10 states where wages rose the most between 2010 and 2020:

State2020 Avg. WageDifference
Washington$76,79158.28%
California$79,48049.16%
North Dakota$55,46545.47%
Massachusetts$83,73844.95%
Oregon$59,93843.82%
South Dakota$49,16743.21%
New Hampshire$64,88841.19%
Montana$48,44340.03%
Utah$54,89039.35%
Colorado$66,64939.23%

Click here to see what income level is considered middle class in each state.


Get Our Free Investment Newsletter

I have read, and agree to the Terms of Use

Source: Read Full Article