Thinking of relocating for a better job opportunity?
Financial news site MoneyRates.com's new ranking should help. Using four factors—average wages, unemployment rate, state tax rate and cost of living—the list represents adjusted average income for each state, representing "how bad or good a living an average worker can make."
With the average across all states holding at a low $35,960, your way out of a slowly improving economy might lead to relocating. If so, use this list to help guide your decision toward a satisfying and meaningful career.
Quite coincidentally, while in Chicago earlier this week to speak on why corporate social responsibility matters for hiring and employee engagement, I heard outgoing Mayor Richard Daley speak on the need for volunteerism and corporate-backed community outreach. Emphasizing that it was the private sector's duty to give back to their communities and partner with nonprofits in making "Chicago a global city," Daley appealed to a crowded room of executives from many Fortune 1000 companies to "take up active mentoring of students and schools."
Now, President Obama and Oprah's home state takes top honors for having the highest average income.
The top 10 states with the highest average income:
- Illinois: $41,987
- Washington: $41,456
- Texas: $41,427
- Virginia: $41,120
- Delaware: $39,105
- Massachusetts: $38,665
- Georgia: $38,228
- Tennessee: $38,038
- Colorado: $38,020
- Minnesota: $37,722
Next: The 10 worst states for earning a living
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