North Dakota Has the Best Economic Outlook for 2017 in the US
A study done by Expert Market reveals North Dakota has the best economic outlook for 2017.
In order to determine the results, the group looked at unemployment rates, the GDP per capita, the startup density, housing values, new entrepreneurs, and household incomes in all 50 states.
Using data from the Bureau of Labor Statistics, they looked at the rates of decline or growth in the aforementioned categories from 2010 to 2015.
After crunching the numbers, it was determined that North Dakota ranked No. 1 overall in startup density (the rate of new businesses), GDP per capita, and household income. North Dakota ranked No. 5 in housing value and No. 43 in unemployment growth. In other words, North Dakota had a low rate of unemployment.
Though it isn’t made clear in the article published by Expert Market, it is possible North Dakota’s numbers were significantly inflated from 2010 through 2012 which was during the oil boom.
Obviously things have come down since then but it is possible under the incoming Trump administration, the oil industry will boom again. It is expected to grow following the completion of the Dakota Access Pipeline.
Overall though, the study concludes that if you want to be comfortable financially in 2017, North Dakota is the place to be.