While the job market is still recovering nationwide, it’s true that conditions vary greatly for each state. Texas has fared well despite the downturn – The Lone Star state has consistently ranked in the top states for business, economic recovery and job growth. So we weren’t too surprised when MoneyRates.com released their Top 10 States for Making a Living, with Texas grabbing the third spot.
MoneyRates.com looked at four factors for making a living: average state wages, the state unemployment rate, state tax rate and the cost of living. Based on these factors, they created an adjusted average income, considering your chances of finding a job, the cost of state taxes and purchasing power that your income will have based on the cost of living. These factors combined put Texas third in the nation, behind Illinois and Washington (state).
With no income tax, a low cost of living and unemployment rate, Texas scored an adjusted-average income of $41,427.
See the full article from MoneyRates.com