Often that cost would be passed down onto the consumers. Forget about rich bourgeoisie - most businesses today are lucky to even see a 5% profit margin and that money is often channeled back into the business to expand operations.
The poor states also have to consider the retirement economy. A lot of older rich New Yorkers go down to the lower half states to retire, because everything there is simply cheaper due to the lower minimum wage.. that's not some evil oppressive thing, it's just 101 stretch out your savings. If minimum wage increases in the poorer states than a lot of the seniors may just leave for another state or another country.
Topic: America's richest and poorest states (Read 1199 times)
and, just while I'm scanning google, notice this:
2014 Job Creation Faster in States that Raised the Minimum ...
http://www.cepr.net/index.php/blogs/cepr-blog/2014-job-creation-in-states-that-raised-the-minimum-wage
Center for Economic and Policy Research
Loading...
Jun 30, 2014 - The baseline is the average of the employment figures for the last five months of 2013 (August to December), which is measured against the ...
For god's sake, this is just common sense. At that level, people spend the extra earnings, the increased wage goes invariably directly back to the economy, I heard a while ago the incredible statement that 50% couldn't even raise $400 without having to borrow from friends or family. So even accepting that that bookseller might have to lay off an employee, that employee will be able to find a new job because of the income going back into the economy.
This has to be done. I don't think $15.00 p/h is good, that's too inflationary, but $10.00 minimum should be standard country wide, and a little bit higher than that in urban centers to account for the higher costs of living there.
2014 Job Creation Faster in States that Raised the Minimum ...
http://www.cepr.net/index.php/blogs/cepr-blog/2014-job-creation-in-states-that-raised-the-minimum-wage
Center for Economic and Policy Research
Loading...
Jun 30, 2014 - The baseline is the average of the employment figures for the last five months of 2013 (August to December), which is measured against the ...
For god's sake, this is just common sense. At that level, people spend the extra earnings, the increased wage goes invariably directly back to the economy, I heard a while ago the incredible statement that 50% couldn't even raise $400 without having to borrow from friends or family. So even accepting that that bookseller might have to lay off an employee, that employee will be able to find a new job because of the income going back into the economy.
This has to be done. I don't think $15.00 p/h is good, that's too inflationary, but $10.00 minimum should be standard country wide, and a little bit higher than that in urban centers to account for the higher costs of living there.
Where does that extra money that gets put back into economy come from? Raising the minimum wage to $10 doesn't magically create $3 out of thin air in the employer's bank account. All it does is shift his accounting books to increase the cost of labor by about 40%. The sale of goods doesn't increase, at least initially. So that extra wealth, which gets added to the employee's income, which the employee can then turn around and add back into the economy, has to come from somewhere.
Interesting. It means to me that if I wanted to invest in the US, I'll invest in Mississippi.
I wish someone could relate this data to the use of BTC among the states.
I wish someone could relate this data to the use of BTC among the states.
I am a little surprised that California doesn't make the Top 5
I know the state is indebted but thought it had high concentrations of the uber-rich
I know the state is indebted but thought it had high concentrations of the uber-rich
and, just while I'm scanning google, notice this:
2014 Job Creation Faster in States that Raised the Minimum ...
http://www.cepr.net/index.php/blogs/cepr-blog/2014-job-creation-in-states-that-raised-the-minimum-wage
Center for Economic and Policy Research
Loading...
Jun 30, 2014 - The baseline is the average of the employment figures for the last five months of 2013 (August to December), which is measured against the ...
For god's sake, this is just common sense. At that level, people spend the extra earnings, the increased wage goes invariably directly back to the economy, I heard a while ago the incredible statement that 50% couldn't even raise $400 without having to borrow from friends or family. So even accepting that that bookseller might have to lay off an employee, that employee will be able to find a new job because of the income going back into the economy.
This has to be done. I don't think $15.00 p/h is good, that's too inflationary, but $10.00 minimum should be standard country wide, and a little bit higher than that in urban centers to account for the higher costs of living there.
2014 Job Creation Faster in States that Raised the Minimum ...
http://www.cepr.net/index.php/blogs/cepr-blog/2014-job-creation-in-states-that-raised-the-minimum-wage
Center for Economic and Policy Research
Loading...
Jun 30, 2014 - The baseline is the average of the employment figures for the last five months of 2013 (August to December), which is measured against the ...
For god's sake, this is just common sense. At that level, people spend the extra earnings, the increased wage goes invariably directly back to the economy, I heard a while ago the incredible statement that 50% couldn't even raise $400 without having to borrow from friends or family. So even accepting that that bookseller might have to lay off an employee, that employee will be able to find a new job because of the income going back into the economy.
This has to be done. I don't think $15.00 p/h is good, that's too inflationary, but $10.00 minimum should be standard country wide, and a little bit higher than that in urban centers to account for the higher costs of living there.
And, in a listing of most abnormal, California ranked 11th, Alaska 1st.
http://money.msn.com/investing/the-most-abnormal-states-in-america
States with the most oil. Texas tops that, Alaska is 3rd, California 4th. New Mexico 5th, interestingly (had not realized it was an oil state). North Dakota 2nd.
http://money.msn.com/investing/5-states-with-the-most-oil
How many of those jobs were in Texas, I wonder?http://money.msn.com/investing/the-most-abnormal-states-in-america
States with the most oil. Texas tops that, Alaska is 3rd, California 4th. New Mexico 5th, interestingly (had not realized it was an oil state). North Dakota 2nd.
http://money.msn.com/investing/5-states-with-the-most-oil
By email, Perry spokesman Josh Havens referred to information attributed to the U.S. Bureau of Labor Statistics indicating that Texas reaped more than 1.75 million net new jobs from March 2003 to March 2013, a period in which the United States as a whole accounted for 5.3 million net new jobs, Havens said.
A quick search didn't turn up an actual number for Texas in 2013, but I can guarantee that it wasn't a million.
First, I would note that as a comment in this article points out, there's a big difference between "creating" jobs and someone moving an existing job into the state so they can pay lower wages.
http://swampland.time.com/2013/05/10/obama-and-perry-and-the-texas-job-miracle/
Also, a very interesting point raised, given all the screaming by sting and frazy re immigrants...
Next, demography. Texas has benefited from that biggest of political hot potatoes, immigration. Rather than being a drag on the state’s economy, the steady influx of workers has fueled growth–according to economists [pdf] at the Dallas Federal Reserve–giving the state new, eager workers across a variety of employment areas.
http://swampland.time.com/2013/05/10/obama-and-perry-and-the-texas-job-miracle/
Also, a very interesting point raised, given all the screaming by sting and frazy re immigrants...
Next, demography. Texas has benefited from that biggest of political hot potatoes, immigration. Rather than being a drag on the state’s economy, the steady influx of workers has fueled growth–according to economists [pdf] at the Dallas Federal Reserve–giving the state new, eager workers across a variety of employment areas.
And, in a listing of most abnormal, California ranked 11th, Alaska 1st.
http://money.msn.com/investing/the-most-abnormal-states-in-america
States with the most oil. Texas tops that, Alaska is 3rd, California 4th. New Mexico 5th, interestingly (had not realized it was an oil state). North Dakota 2nd.
http://money.msn.com/investing/5-states-with-the-most-oil
How many of those jobs were in Texas, I wonder?http://money.msn.com/investing/the-most-abnormal-states-in-america
States with the most oil. Texas tops that, Alaska is 3rd, California 4th. New Mexico 5th, interestingly (had not realized it was an oil state). North Dakota 2nd.
http://money.msn.com/investing/5-states-with-the-most-oil
http://www.dallasnews.com/business/headlines/20140128-texas-led-national-job-growth-in-2013.ece
This reports Texas Job growth at about 229K per year. Don't know about this year so far. It must be something that those GOP politicians do (oil) that makes the economy (oil) so strong. Clearly Texas should be proud of their GOP leadership (oil) and what it (oil) has done for their economy (oil).
Now, interestingly, here, in a ranking of worse to best state economies, Alaska was rated worse (despite its ranking in the OP for rich status). The oil thing must be oil and natural gas, otherwise Alaska wouldn't be 3rd.
Connecticut is the richest state? Gotta say that was unexpected.
And, in a listing of most abnormal, California ranked 11th, Alaska 1st.
http://money.msn.com/investing/the-most-abnormal-states-in-america
States with the most oil. Texas tops that, Alaska is 3rd, California 4th. New Mexico 5th, interestingly (had not realized it was an oil state). North Dakota 2nd.
http://money.msn.com/investing/5-states-with-the-most-oil
ND is a destination spot for any single guy to go to to make bank in a short amount of time yet working long hours in an on call fashion. It's a quietly kept secret as most younger people in most states are getting by on low wage jobs and might not even have enough of a stake set aside to be able to get themselves to ND. I was planning on going there but ever since my brother's wedding last month I'm kinda tied in http://money.msn.com/investing/the-most-abnormal-states-in-america
States with the most oil. Texas tops that, Alaska is 3rd, California 4th. New Mexico 5th, interestingly (had not realized it was an oil state). North Dakota 2nd.
http://money.msn.com/investing/5-states-with-the-most-oil
w/ the maid of honor who's an rn at a major hospital here. I work there too but she's a great referral for me to go higher into security and above. She has no idea about BTC and I'm certainly not going to say anything about what I have as I didn't have to flash in the first place to reel her in. And, in a listing of most abnormal, California ranked 11th, Alaska 1st.
http://money.msn.com/investing/the-most-abnormal-states-in-america
States with the most oil. Texas tops that, Alaska is 3rd, California 4th. New Mexico 5th, interestingly (had not realized it was an oil state). North Dakota 2nd.
http://money.msn.com/investing/5-states-with-the-most-oil
How many of those jobs were in Texas, I wonder?http://money.msn.com/investing/the-most-abnormal-states-in-america
States with the most oil. Texas tops that, Alaska is 3rd, California 4th. New Mexico 5th, interestingly (had not realized it was an oil state). North Dakota 2nd.
http://money.msn.com/investing/5-states-with-the-most-oil
And, in a listing of most abnormal, California ranked 11th, Alaska 1st.
http://money.msn.com/investing/the-most-abnormal-states-in-america
States with the most oil. Texas tops that, Alaska is 3rd, California 4th. New Mexico 5th, interestingly (had not realized it was an oil state). North Dakota 2nd.
http://money.msn.com/investing/5-states-with-the-most-oil
How many of those jobs were in Texas, I wonder?http://money.msn.com/investing/the-most-abnormal-states-in-america
States with the most oil. Texas tops that, Alaska is 3rd, California 4th. New Mexico 5th, interestingly (had not realized it was an oil state). North Dakota 2nd.
http://money.msn.com/investing/5-states-with-the-most-oil
And, in a listing of most abnormal, California ranked 11th, Alaska 1st.
http://money.msn.com/investing/the-most-abnormal-states-in-america
States with the most oil. Texas tops that, Alaska is 3rd, California 4th. New Mexico 5th, interestingly (had not realized it was an oil state). North Dakota 2nd.
http://money.msn.com/investing/5-states-with-the-most-oil
How many of those jobs were in Texas, I wonder? http://money.msn.com/investing/the-most-abnormal-states-in-america
States with the most oil. Texas tops that, Alaska is 3rd, California 4th. New Mexico 5th, interestingly (had not realized it was an oil state). North Dakota 2nd.
http://money.msn.com/investing/5-states-with-the-most-oil
And, in a listing of most abnormal, California ranked 11th, Alaska 1st.
http://money.msn.com/investing/the-most-abnormal-states-in-america
States with the most oil. Texas tops that, Alaska is 3rd, California 4th. New Mexico 5th, interestingly (had not realized it was an oil state). North Dakota 2nd.
http://money.msn.com/investing/5-states-with-the-most-oil
http://money.msn.com/investing/the-most-abnormal-states-in-america
States with the most oil. Texas tops that, Alaska is 3rd, California 4th. New Mexico 5th, interestingly (had not realized it was an oil state). North Dakota 2nd.
http://money.msn.com/investing/5-states-with-the-most-oil
Now, interestingly, here, in a ranking of worse to best state economies, Alaska was rated worse (despite its ranking in the OP for rich status).
New Mexico is next, then a couple of states in the North East. NJ and Connecticut are among the 15 worse.
Michigan had 16th best (unfortunately, you have to go page by page to see this). South Carolina 8th. AZ 4th, Texas 3rd. California 2nd, Colorado 1st.
http://money.msn.com/investing/the-50-state-economies-from-worst-to-first
New Mexico is next, then a couple of states in the North East. NJ and Connecticut are among the 15 worse.
Michigan had 16th best (unfortunately, you have to go page by page to see this). South Carolina 8th. AZ 4th, Texas 3rd. California 2nd, Colorado 1st.
http://money.msn.com/investing/the-50-state-economies-from-worst-to-first
From what I see, this is based on median income for those working. And not taking into account employment rate, for example. Or cost of living. Which the article does list for each state discussed.
Richest
1.Maryland 72,483
http://money.msn.com/investing/americas-richest-and-poorest-states-1
The wealthiest state in the U.S. last year boasted a median income of $72,483, compared to a median income of just $37,963 in America's poorest state.
Richest
1.Maryland 72,483
http://money.msn.com/investing/americas-richest-and-poorest-states-1
The wealthiest state in the U.S. last year boasted a median income of $72,483, compared to a median income of just $37,963 in America's poorest state.
Much of that comes from the fact that Maryland is right next to Washington DC, and where most of the companies that do government contracting reside. Potomac and Bethesda are the wealthiest areas of Maryland, bordering the DC beltway. So you can look at Maryland being #1 as being analogous to Maryland being most supported by US tax dollars.
Great thread, although I do not know what we can take away.
not taking into account employment rate, for example. Or cost of living.
One of my most meaningful Employment/Long Term Consumer metrics, is the 'Labor Participation Rate, and that continues ever downward in seeming 'free fall.'
My family settled in Alabama a few years ago due to the very low cost of living, although we also live in North Florida and Georgia. All are huge steps up in our particular brand of lifestyle, from our necessary 15 years in California.
not taking into account employment rate, for example. Or cost of living.
Quote
The United States added more than 2.3 million jobs in 2013, the most in any year since 2005. Despite this, income levels and poverty rates did not improve in most of the United States last year, according to recently released figures from the Census Bureau's American Community Survey.
One of my most meaningful Employment/Long Term Consumer metrics, is the 'Labor Participation Rate, and that continues ever downward in seeming 'free fall.'
My family settled in Alabama a few years ago due to the very low cost of living, although we also live in North Florida and Georgia. All are huge steps up in our particular brand of lifestyle, from our necessary 15 years in California.
Poorest:
10. Oklahoma: 45,690
9. Tennessee: 44,297
8. Louisiana: 44,164
7. South Carolina: 44,163
6. New Mexico: 43,872
5. Kentucky: 43,399
4. Alabama: 42,849
3. West Virginia: 41,253
2. Arkansas: 40,511
1. Mississippi: 37,963
http://247wallst.com/special-report/2014/09/18/americas-richest-and-poorest-states-2/4/
10. Oklahoma: 45,690
9. Tennessee: 44,297
8. Louisiana: 44,164
7. South Carolina: 44,163
6. New Mexico: 43,872
5. Kentucky: 43,399
4. Alabama: 42,849
3. West Virginia: 41,253
2. Arkansas: 40,511
1. Mississippi: 37,963
http://247wallst.com/special-report/2014/09/18/americas-richest-and-poorest-states-2/4/
From what I see, this is based on median income for those working. And not taking into account employment rate, for example. Or cost of living. Which the article does list for each state discussed.
Richest
5.Connecticut: 67,000
4.Hawaii: 68,020
3.New Jersey: 70,165
2.Alaska 72,237
1.Maryland 72,483
http://money.msn.com/investing/americas-richest-and-poorest-states-1
The United States added more than 2.3 million jobs in 2013, the most in any year since 2005. Despite this, income levels and poverty rates did not improve in most of the United States last year, according to recently released figures from the Census Bureau's American Community Survey.
While many American households continue to struggle to make ends meet, those in the richest states continued to earn far more than households in the poorest states. The wealthiest state in the U.S. last year boasted a median income of $72,483, compared to a median income of just $37,963 in America's poorest state.
One of the most important determinants of income is employment, because most Americans rely on their jobs as their largest source of income. Several states with high incomes also had low unemployment rates.
Richest
5.Connecticut: 67,000
4.Hawaii: 68,020
3.New Jersey: 70,165
2.Alaska 72,237
1.Maryland 72,483
http://money.msn.com/investing/americas-richest-and-poorest-states-1
The United States added more than 2.3 million jobs in 2013, the most in any year since 2005. Despite this, income levels and poverty rates did not improve in most of the United States last year, according to recently released figures from the Census Bureau's American Community Survey.
While many American households continue to struggle to make ends meet, those in the richest states continued to earn far more than households in the poorest states. The wealthiest state in the U.S. last year boasted a median income of $72,483, compared to a median income of just $37,963 in America's poorest state.
One of the most important determinants of income is employment, because most Americans rely on their jobs as their largest source of income. Several states with high incomes also had low unemployment rates.
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