Delaware ranks 10th in median household income despite a sharp drop as the state struggled to emerge from the recession, based on U.S. Census figures.
Delaware’s median household income declined from more than $62,000 in 2008 to $58,415 last year. Aiding the state was the a high percentage of jobs in banking an finance, an area with higher pay scales.
The decline in median income has been cited as a factor in the slow recovery of the state that has turned into a debate over the performance of the economy in recent weeks, with the release of a Moody’s Analytics report indicating that Delaware is the only state at risk of falling into a recession.
That assertion has been criticized by the administration of Gov. Jack Markell and others who point to other positive signs for the economy that include the still-high median income level.
Neighboring Maryland was the only state in the country with a median household income to exceed $70,000 in both 2011 and 2012.
Nearly 11% of households in Maryland earned $200,000 or more last year, the third-highest percentage in the nation and close to double the national rate of 5.9%. People in Maryland were more likely to be employed and to hold good jobs. Much of the economic wealth in Maryland is concentrated in the Washington, D.C. metro area.
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