Connecticut: 10th Worst State to Make a Living, New Report Says

According to MoneyRates.com which just compiled “The Best and Worst States to Make a Living 2015” has concluded Connecticut is the 10th hardest state to make a living in.

But there is some good news. Last year, Connecticut was ranked the 5th worst state to make a living in so we’re moving in the right direction.

The top five states to make a living in 2015 are: Texas at No. 1, followed by Washington, Wyoming, Virginia, and Illinois.

The five worst states to make a living in 2015 are: Hawaii at No. 1, followed by Oregon, Maine, West Virginia, and Vermont.

The rankings were based on five factors including: average wages, state tax rates, cost of living, unemployment rate, and incidents of workplace illness, injuries and fatalities.

Concerning Connecticut, MoneyRates.com writes, “Like neighboring Rhode Island, Connecticut improved by five spots this year, but still landed in the bottom 10. High unemployment is a problem in Connecticut, and even having one of the highest average wages in the country is not enough to make up for the cost of living in the state. Workplace safety is also a concern in Connecticut.”

The average income in Connecticut is $55,060 while state taxes cost residents $2,578 on average and the unemployment rate is 6.3 percent.

By way of comparison Texas’ average income is $45,330 but there is no state income tax and the unemployment rate is just 4.2 percent.

Read the full report and view the full rankings here.

Do you agree with the report’s findings? Let us know in the comments section below.