South Dakota among Top Third of Best States for Making Money
In a year where making money has been nearly impossible for a lot of Americans because of the COVID-19 pandemic, there are still areas where the economy is still chugging along, and South Dakota is one of those places.
BestLife looked at key economic numbers from the U.S. Census Bureau, the U.S. Bureau of Labor, and the World Population Review to rank states on things like household income, state income tax rates, unemployment, and the cost of living in regards to things like groceries and gas.
South Dakota is in the top third of the best states for making money in America - 14th overall.
The Mount Rushmore State has a median household income of $59,463, which is lower than any city that ranks in the top ten, but only one of the other ten best (Washington) can match the state's biggest economic plus - no state income tax.
Only two of the top ten states (Utah, Nebraska) can best our 4.8 percent unemployment rate.
Overall, South Dakota ranks so highly on the list thanks to a near-perfect 99.8 ranking on the website's cost of living index.
BEST STATES TO MAKE MONEY (BestLife)
- New Hampshire
- North Dakota
The latest report from the Pew Research Center says that half of adults who lost a job due to the coronavirus outbreak are still unemployed.