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.


  1. "... the above chart does show how concentrated the wealth is in the U.S." Perhaps the chart better shows how concentrated the population is in the U.S.

    Total compensation is a function of population, whereas data on a per capita basis might better reflect wealth concentration.

  2. Median comp would be more interesting than average. Clearly, in somewhere like Manhattan, the average is going to be skewed by a few high earners. At least in 2007...

  3. what i do like about this chart is it shows which states are likely to bailed out first by the federal government. like it or not, the concentration of the population will impact where jobs / projects will go