Kenneth C. Zirkel // Wikimedia Commons
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Americans on the whole were doing well financially heading into 2020, with major markers like unemployment reaching 50-year lows. The pandemic changed all that: During the second quarter of the 2020 fiscal year, our nation’s real GDP fell by a whopping 31.4%, a number that hasn’t been seen since the Great Depression. Since then the GDP has recovered, the first quarter of 2022 was 11% above the fourth quarter of 2019.

While GDP has recovered since the height of the pandemic, wage growth has not kept pace with inflation. In 2021 average hourly wages increased 4.7% while there was 7% inflation, meaning the worker’s purchasing power dropped by 2.4%.

Where you live can make a big impact on your financial situation. The highest earning county in the U.S. earns $147,111, while the lowest earns $22,292. Stacker compiled a list of the lowest-earning counties in Rhode Island using data from the U.S. Census Bureau. Counties are ranked by the Census’ 2020 5-year estimate median household income.

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Marcbela (Marc N. Belanger) // Wikimedia Commons

#5. Washington County

– Median household income: $86,970
— 23.7% above state average, 33.8% above national average
– Households earning over $100k: 44.4%
— #98 highest among all counties nationwide
– Households earning less than $15k: 7.8%
— #3,026 highest among all counties nationwide

Kenneth C. Zirkel // Wikimedia Commons

#4. Bristol County

– Median household income: $85,413
— 21.5% above state average, 31.4% above national average
– Households earning over $100k: 44.1%
— #103 highest among all counties nationwide
– Households earning less than $15k: 8.0%
— #3,015 highest among all counties nationwide

Kenneth C. Zirkel // Wikimedia Commons

#3. Newport County

– Median household income: $84,282
— 19.9% above state average, 29.7% above national average
– Households earning over $100k: 41.7%
— #138 highest among all counties nationwide
– Households earning less than $15k: 8.1%
— #3,001 highest among all counties nationwide

Rhode Island Attorney General // Wikimedia Commons

#2. Kent County

– Median household income: $75,857
— 7.9% above state average, 16.7% above national average
– Households earning over $100k: 36.3%
— #254 highest among all counties nationwide
– Households earning less than $15k: 7.8%
— #2,895 highest among all counties nationwide

Kenneth C. Zirkel // Wikimedia Commons

#1. Providence County

– Median household income: $62,323
— 11.4% below state average, 4.1% below national average
– Households earning over $100k: 28.8%
— #562 highest among all counties nationwide
– Households earning less than $15k: 12.3%
— #2,415 highest among all counties nationwide

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This story was written by Stacker and has been re-published pursuant to a CC BY-NC 4.0 License.

This post was originally published on this site

Stacker

This story was written by Stacker and has been re-published pursuant to a CC BY-NC 4.0 License.

Founded in 2017, Stacker combines data analysis with rich editorial context, drawing on authoritative sources and subject matter experts to drive storytelling.