CLOVIS (KSMX)- According to a new study by reports 24/7 Wall St., a financial news and opinion website, New Mexico is the fourth poorest state in the Nation
The typical New Mexico household earns $47,169 a year which is $36,073 less than the typical household in Maryland, the richest state in the country. Since 2017, there has been a slit uptick in household income at the national level.
Only 14 states reported a statistically significant increase in median household income and in one state, Maine, the median household income actually declined by a statistically significant amount. For context, there was a statistically significant increase in median household income in nearly half of all states between 2016 and 2017.
Income levels vary widely across the country. In some states, the majority of households live on less than $50,000 a year. Meanwhile, in a number of other states, most households earn at least $75,000 annually. 24/7 Wall St. reviewed recently released 2018 ACS median household income data identify America’s richest and poorest states. The share of adults 25 and over with a bachelor’s degree and the share of the population living below the poverty line also came from the 2018 ACS. They had also reviewed annual average unemployment data from the Bureau of Labor Statistics for 2018 and 2017.
Median household income: $47,169 (2018); $47,646 (2017)
Bachelor’s degree attainment: 27.7% (2018); 27.1% (2017)
Poverty rate: 19.5% (2018); 19.7% (2017)
Unemployment: 4.9% (2018); 5.9% (2017)
24/7 Wall St.’s “10 Poorest States”
- West Virginia
- New Mexico
- South Carolina
24/7 Wall St.’s “10 Richest States”
- New Jersey
- New Hampshire