Columbia, SC (WLTX) -- A financial services website annually compiles a number of statistics to rate best-to-worst states for earning a living, and South Carolina is ranked among the Nation's worst.
The list, compiled by Money-Rates.com, takes stats including cost of living, average wages, unemployment, and state tax information, then based upon these factors builds their list of best - and worst - states to earn a living.
The Top Five:
- Rhode Island
- New York
- South Carolina
For South Carolinians, it was the combination of our average low wages and high unemployment numbers that has kept the state in their bottom-ten rankings for the last three years.
Additionally, residents have given South Carolina the fifth-worst rating for work environment.
Hawaii was ranked tops on the list because of the extremely high cost of living, highest in the United States, and exacserbated by a high state income tax.
For Mississippi and Rhode Island, high unemployment is one major factor for both states. Unemployment in New York also factors in, along with a cost of living that's 38% higher than the national average.
Read the full report from money-rates.com here.