Minnesota makes new list of '10 Richest States'


Minnesota ranks No. 9 on a new list of the "10 Richest States in America," CNBC.com reports.

The website of the cable business channel assembled the list after compiling information recently released by the U.S. Census Bureau.

The report finds Minnesota, with a population of nearly 5.4 million people, has a median income of $58,906.

"Unemployment is relatively low and only 11.4 percent of residents are living in poverty," CNBC says in its analysis of the census data.

The outlet also says the state's dropping unemployment level contributed to the state's high ranking on the list.

Twin Cities Business reported last month that the state's unemployment rate dropped to a seasonally adjusted 5.1 percent in August, the lowest level since April 2008.

The unemployment rate during the same period for the U.S. was 7.3 percent, the publication says.

No. 1 on the CNBC's list of the "10 Richest States" is Maryland, which has a median household income of $71,122. Rounding out the top five are New Jersey, Alaska, Connecticut and Hawaii.

The CNBC list comes a couple weeks after Forbes magazine ranked Minnesota No. 8 on its "Best States for Business" list.

Forbes says the state's "strength of an improved economic outlook" helped determine the ranking.

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