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Tuesday, December 23, 2008

Wealth Concentration by State

Per the BEA:

Large counties, those with at least $10 billion in total compensation, represent 5.3% of the 3,111 counties in the U.S., but account for almost two-thirds (65.8%) of total national compensation. In these 164 counties, all metropolitan:

  • Total compensation grew by 5.5% in 2007, ranging from -0.6% in Montgomery County, Ohio to 12.4% in Collin County, Texas
  • Average annual compensation per job in 2007 ranged from $41,520 in El Paso, Texas to $116,977 in New York County (Manhattan), New York
  • The management of companies and enterprises sector had the largest rate of growth for total compensation in 2007 at 10.5%, while the agriculture, forestry, fishing, and hunting sector had the smallest rate of growth at 1.4%
  • The professional and technical services sector represented the largest share of 2007 total compensation at 10.8%

While this info is dated (doesn't 2007 seem like 20 years ago?), the above chart does show how concentrated the wealth is in the U.S.