Hawaii is the worst state to make a living in 2015, this according to a study recently released by MoneyRates.com.
It states that Hawaii “is a tough place for workers looking to get ahead. It came in dead last in our analysis of all 50 states, largely due to its sky-high cost of living. Adjusted for taxes and the cost of living, workers in Hawaii get the equivalent value of just 55 cents for every dollar they make.”
The breakdown includes being …
- #1 for Cost of Living Index
- #17 for Average income
- #3 for State Tax on Average Income
- #24 for Unemployment Rate (tie)
- #8 for Work Incidents/100 Workers (tie)
Joining Hawaii in the worst state list, from 49 to 41, are Oregon, Maine, West Virginia, Vermont, California, Montana, South Dakota, Rhode Island and Connecticut.
The best 10 states to make a living, according to the study, are Texas at number-one; then Washington, Wyoming, Virginia, Illinois, Michigan, Colorado, Delaware, Ohio and Utah.
The methodology used by MoneyRates.com’s analysis includes average annual wage data from the U.S. Bureau of Labor Statistics, state tax information collected by the research group Tax Foundation, data sourced from the Council for Community and Economic Research’s Cost of Living Index, unemployment rate numbers from the U.S. Bureau of Labor Statistics (BLS), and workplace safety data from employer reports to the U.S. Occupational Safety and Health Administration and the BLS Survey of Occupational Injuries and Illnesses.
Click here to see the complete report.