In the United States, the average disposable income is $45,000 per year. A figure per capita (correct) which is significantly higher than the OECD average. Of the 37 active members of the OECD, the United States is almost 50% above the average (about 33 thousand dollars). But despite a good average figure, it is interesting to note that the richest 20% of the population makes up about 9 times more than the income of the poorest 20%. Just yesterday we had deepened this topic on Europe. In this new article today we will try to deepen the evolution of the average income in the US. The data range from 1929 to 2019. The evolution of Average Income in the United States.
Top 15 States in US Per Capita Personal Income
But which are the 15 US states with the highest personal income per capita? And how has this figure evolved over time? In the video below you can see how as of 2019 the first state is District of Columbia followed by Connecticut and Massachusetts. Washington, D.C., the capital of the U.S. which has about 705 thousand inhabitants is also the state where the population is richer. In fact, in 2019, the income was more than 84 thousand dollars. To follow Connecticut with 79 thousand. And in third position Massachusetts with almost 75 thousand. Among the states that exceed 70 thousand dollars there are also New York and New Jersey. In sixth place California with 66.581. Compared to 1929, the year of the economic crisis, District of Columbia has grown more than 64 times. It has grown from $1234 to over 84,000. Also in 1929, the first three states were Washington D.C., New York and Delaware.
The evolution of income State by State
The large increase in average personal income has occurred mainly from the 1970s onwards with constant growth from year to year. The only moments of decline are due to the strong economic crisis. In particular from 2010 to 2009 the average income had dropped by more than 1700 dollars. This is due to the financial crisis of 2009.
In the interactive map below you can see the given year by year, State by State. It is interesting to note that some states were already in the first position in 1929. Positions that they maintained over time. While others still increased their average income but lost positions.
The evolution of Average Income in the United States in 1929, 1949, 1999, 2009 and 2019
Finally, as a last item, below you can see the change in income. The figure refers to all available countries in the United States. The years taken as reference are significant. 1929, the year of the crisis. The 1949 as post-war. 1999 as the year before the new millennium. 2009 as the year of the financial crisis and finally 2019 as the last available data.
|District of Columbia||1324||2286||39563||60448||84538|
Data sources and other interesting articles
Personal income is an individual’s total earnings from wages, investment interest, and other sources.
The Unemployment Rate in U.S. States from 1980 to September 2020: https://statisticsanddata.org/the-unemployment-rate-in-u-s-states/
States in U.S. with more Covid Cases per 100,000 people: https://statisticsanddata.org/states-in-u-s-with-more-covid-cases-per-100000-people/
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