The Economy of Puerto Rico
The pharmacutical, electronic, and clothing industries are the primary source of income. the pharmacutical company in particular thrives from the tax incentives offered by the United States. these special tax incentives are in place because Puerto Rico is not technically a state, but a territory, and their is a fundemental need for jobs in this area.
As of June 2014, the unemployment rate of Puerto Rico was at 13.1%. that equates to over 480,000 people in Puerto Rico without jobs. 44% of people living in Puerto Rico are living under the poverty level. With a strong need for jobs, the United States offers incentives for this territory to start new industry. As of 2010, the average household income in Puerto Rico was around $19,400.