this is a good run down, with one nit, probably caused by availability of data. Gdp per capita is not a good metric, because its a mean, so verp vulnerable to outliers, and because it represents generation of wealth regardless of if that money stays in the state.
North Dakota is an oil state.
It has a median household income of $68,000, meaning half of all households bring in less than that.
It has a mean income per capita of $37,343
11.5% of people in north dakota live in poverty
north dakota ranks 39th for poverty, which is better than middle.
This is an example of how different stats will have different results. When looking at poverty rates, out of the ten worst, only New Mexico is not a right-to-work state.
This is great qualifying information and I think this shows that you can’t just take the back of a tee shirt at face value. Who knows what the wearer meant by “poorest states.”
I was going to say gdp isn’t a good metric. GDP is economic output and not really relevant.
I’d look at cost of living and wages.
Thank you. I’m not a fan of GDP. If you and I started crotch kicking businesses and paid each other $1,000,000 dollars to kick each other in the crotch, we just contributed $2,000,000 to the GDP with nothing of value created. My testicles hurt and your $PARTS hurt.
Exactly. You have a lot of funny money being passed around but that doesn’t mean anyone is making a living wage or if people are poor or not. Cost of living and income are more important. In some states it’s cheap to live and you’re paid accordingly. Other states it’s expensive and you’re paid more but not always enough for the living. GDP is fine to track things at a high level or national level but horrible for tracking how workers are doing