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How good is Texas for making a living compared to the rest of the United States? According to the personal finance site MoneyRates, it’s the best.
Texas took the top spot in this year’s rankings of the best states for making a living. We received high marks for a relatively high income ($45.33K) compared to our very low cost of living, and a low incidence rate of workplace injuries (2.7/100 workers). In addition, Texas was noted for having a low unemployment rate (4.2%) and no income tax. The top 5 spots were rounded out by Washington, Wyoming, Virginia and Illinois.
We finished second in last year’s rankings, and the study’s authors note that the state’s GDP is expanding at 1.8 percent above the national average. In addition to the booming economy, only Louisiana has fewer incidents of workplace injuries -- which all add up to Texas being a good place to make a living.
The worst state in the country to make a living was Hawaii — but that might just be worth the trade.
You can find the full 50 states ranked here.
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