Louisiana ranked fourth poorest state in the country

Halen Doughty

Louisiana is the fourth poorest state in the nation, according to a report from the personal finance website 24/7 Wall Street. The Bayou State came in at number 47 on the list with a median household income of just over $45,000.

Louisiana's household income is less than every state in the country except Arkansas, West Virginia, and Mississippi. The state has the second highest poverty rate at more than 20 percent and the third highest unemployment rate at over 6 percent in 2016.

The poverty rate in Louisiana is well above the national rate of 14 percent, indicating financial hardship is a common problem for Louisianians. High poverty rates and low incomes point to a poor job market in the state.

Neighboring state Mississippi was the poorest state, according to the report, with a median household income of about $41,000. That's a stark comparison to the wealthiest state, Maryland, which has a median household income of nearly $79,000 and the third lowest poverty rate at under 10 percent.

Alaska, New Jersey, Massachusetts, and Hawaii round out the top five richest states.

More information on the report can be found at 247wallst.com:


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