Michigan Ranked No. 6 Best State to Make a Living by Finance Website
Michigan has really been cleaning up on the "best" lists!
MoneyRates compiled information from different sources, including the U.S. Bureau of Labor Statistics, to figure out the best and worst states to make a living.
They looked at five factors: average wages, state tax rates, cost of living, unemployment rates, and incidents of workplace injuries and illnesses.
Michigan came in as the No. 6 best state to make a living!
What earned Michigan a top spot on list? MoneyRates says:
"Though the city of Detroit has had its well-publicized problems, the strength of Michigan's overall performance in this study may be attributed to how well the auto industry has bounced back in recent years. This year, Michigan improved all the way from 32nd to 6th in this study, and the most obvious reason is that the unemployment rate dropped from 7.4 percent to 5.4 percent. Another significant factor for Michigan is its below-average cost of living, which helps people's wages go further."
Here are the rest of best (and the worst):
10 Best States to Make a Living:
10 Worst States to Make a Living:
47. West Virginia
43. South Dakota
42. Rhode Island