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Lee County is one of the most paycheck friendly places in Alabama, according to a recent study conducted by SmartAsset.
The New York-based personal finance company relied on four factors for their results: semi-monthly paycheck amounts, purchasing power, unemployment rate and income growth. Each factor was calculated together to create a ‘Paycheck Friendliness Index’ for each county.
Lee County had a PFI of 41.72, which ranked 10th in Alabama behind Autaga, Bullock, Henry, Saint Clair, Elmore, Tuscaloosa, Limestone, Madison and Shelby counties.
Further information revealed that the average semi-monthly paycheck for Lee County residents was $1,604, purchasing power of 1.32x, unemployment rate of 6 percent and income growth of 2.5 percent during the past fiscal year.
For more information or to see the methodology behind the study, visit www.smartasset.com/taxes/alabama-paycheck-calculator#alabama/overall.