How Much Is A New Jersey Dollar Really Worth?
We all work hard for every dollar we earn in the Garden State, and the value of that dollar is among the lowest in the entire nation.
So, how much is a dollar actually worth in New Jersey? Turns out out our dollar is among the 4 worst in the entire nation. The actual value of the Garden State buck is actually only 88 cents.
That puts New Jersey in a tie with California for third worst state in the nation. The only states with a worse dollar value, according to nj1015.com, are New York (ranked 2nd worst at 87 cents) and Hawaii where the dollar is worth only 84 cents.
And according to the study reported at 24/7 Wall St., our average annual personal income is a relatively impressive $48,590, which ranks 8th in the nation, but of course our cost of living in the Garden State drives our dollar value way down.
So, how much is a dollar worth in the states that are near the top of the rankings? Clearly way more than ours. As an example, the dollar in Arkansas is worth $1.14, Alabama is $1.15 and the top state is Mississippi at $1.16.
But there is some good news for us here in New Jersey. Even though the dollar's value is among the worst in the nation, the report says that because our annual per capita income is nearly $20,000 higher, it offsets our low dollar value. \
So, I guess that should make us feel a little better, but you know what would make us feel a lot better? A dollar being worth a dollar. Is that too much to ask here in the glorious Garden State? I don't think so.
More From Monmouth & Ocean Counties