Per Capita Income and GDP Per Capita
Puerto Rico has a GDP per capita of $16,300 (2010 est.). Compared to the rest of the world they are ranked 73rd . Puerto Rico's GDP pre capita has been declining in recent years ($18,100 (2008 est.), and $17,400 (2009 est.)). According to statistics from the Central Intelligence Agency (CIA), its GDP per capita is the 4th highest in the Caribbean, behind the Bahamas ($30,400), Barbados ($25,000), and Trinidad and Tobago ($20,000).
According to the Bureau of Labor Statistics of the Department of Labor of the United States, the mean annual salary of residents of Puerto Rico is $27,190, the lowest among U.S. territories continuously surveyed periodically by this institution. Guam has the second lowest mean salary to $31,840, closely followed Mississippi, a state, with $34,770. This spread in mean wages could be explained by a minimum wage law for certain industries that are capped to 70% of the federal minimum wage of $7.25 per hour.
Read more about this topic: Economy Of Puerto Rico
Famous quotes containing the word income:
“You boast of spending a tenth part of your income in charity; maybe you should spend the nine tenths so, and done with it.”
—Henry David Thoreau (1817–1862)