Why Oregon lags on per capita income: Editorial…
Few economic statistics are discussed as much in Oregon as per capita income. Oregonians don’t have as much money as Washington residents and lag the national average as well…
Per capita income…is all income… divided by population…
So why is Oregon’s per capita income below the national average, and what can we do about it?…reasons include population growth, lower-than-average wages in key high-paying industries, proximity to lower-tax Washington, a shorter average work week, and demographic factors that contribute to higher unemployment and a lower labor force participation rate. That’s a lot to overcome if Oregon political leaders want to raise per capita income…
Pay for lawyers… and several other professions is below the national average in part because many of the people who hold those jobs are willing to accept less pay because…. They get to live in a place with amenities such as access to both the coast and mountains…
…31 states still have higher per capita income than Oregon’s $41,681. The national median was $46,129 in 2014…
We Respond & Your Comments
Nobody can do much about workers in high paying industries who’ll trade salary dollars for our high quality of life in Oregon.
But here are some factors that government can influence for better or worse:
- Oregon’s non-competitive tax structure compared to Washington;
- A shorter average work week. It’s shorter because there aren’t enough full time jobs. Stop taxing capital gains like earned income and we’d create more 40 hour work weeks. Stop confiscating wealth with a “Death Tax” and more job creators would come here;
- High unemployment and low labor force participation – again a culprit is Oregon taxes. Tear down Oregon’s barriers to job creation and guess what? Jobs will come and Oregonians will go to work. And per capita income will increase.
Earth to Salem: “Are you listening?”
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