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The rich in the Golden State earn much more than the poor, who are just getting by with one paycheck at a time — making California the 5th worst state when it comes to income inequality.
An analysis of the latest Bureau of Labor statistics shows that Virginia sits at the top of the list for the worst divide between the rich and the poor. Virginia is followed by New York, Maryland and Texas all tied at #2.
A detailed examination of California’s wage distribution reveals significant disparities.
California workers in the 75th percentile earned a median annual income of $97,900 — the fifth-highest in the nation and 33% above the U.S. average of $80,500.
The remaining 25th percentile earned only $41,600. The income difference between the 75th and 25th percentiles is a whopping 135%, bypassing the national gap of 114%, reported the Orange County Register.
Maryland’s income gap between the 75th and 25th percentiles stands at 149% while New Jersey recorded 149% followed by New York at 140% and Virginia at 137%.
California is the home of over 200 billionaires and there is no dearth of people earning a lavish amount of money annually. The average of annual earnings of wealthy Golden Staters was $159,000, the second highest in the country and way above than the national average of $128,600.
But, the flip side of the coin isn’t as promising. The low earning Californians averaged only $36,000 annually, making it a 343% void between the rich and the poor. It stands as the fourth widest gap in the nation, with Texas at 360%, Virginia at 355% and Massachusetts at 349%.
Some of the states that recorded the least income different between the high and low earners are Maine at 200%, Vermont at 210% and South Dakota at 224%.
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