This report is based on 2018, the most recent data available.To make matters worse, New Jersey is among the large metropolitan areas with the slowest growth in personal income at 1.9%.Only Mississippi (0.9%) and Kentucky (1.4%) had slower growth in personal income, the report said.Even with the slow income growth for New Jersey, we still earn more money than people in most states, but our higher cost of living makes those dollars worth less, the report said.For example, the report said, real purchasing power is more than 35 percent greater in Arkansas than it is in California. This means that, on average, someone earning $50,000 in after tax income in Arkansas would need after tax earnings of about $67,500 in California to maintain the same standard of living.Some New Jersey legislators have said the new coronavirus stimulus plan should take into account the cost of living in different states, but it doesn’t look like that’s going to happen.New Jerseyans https://www.maxnflshop.com would need $1,581 to equal the purchasing power of the $1,200 payment for someone in Mississippi, the state with the lowest cost of living, according to the Federal Reserve Bank of St. Louis.Registration on or use of this site constitutes acceptance of our User Agreement, Privacy Policy and Cookie Statement, and Your California Privacy Rights (each updated 1/1/20).
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