Locator: 48708ECONOMY.
Unfortunately, according to ChatGPT, state-by-state data is not available. I was most interested in the savings rate in California.
Remember, the national savings rate right now is 4.9%. That's the "average" I assume across all fifty states.
At the end of the day, only a handful of states make any real difference in the overall average, perhaps:
- New York, New Jersey, Massachusetts, Florida, Texas, Utah at the high end;
- Rhode Island, Michigan, Oregon, California at the low end.
North Dakota would be in the first list but the population is so small it does not affect the national average; one could say that about Rhode Island, also, but at the opposite end. But I thought it important to note that not all of the northeast is doing as well as New York / New Jersey.
National savings rate, 1-, 3-, and 10-year intervals:
