North Dakota has recorded the highest personal income growth among all states for the sixth time in the last seven years.
Statistics released Tuesday by the U.S. Bureau of Economic Analysis indicated that the state’s personal income grew 7.6 percent in 2013. Utah ranked behind North Dakota with a 4 percent growth.
The federal report tied the state’s income to various business sectors including agriculture, construction and energy development.
Gov. Jack Dalrymple says the report shows that the state’s efforts to create jobs and career opportunities are getting results.
The national average of growth declined last year. The bureau reports the national average as 2.6 percent in 2013, down from 4.2 percent in 2012.
Earnings grew in 2013 in every industry nationwide except civilian federal government, which fell $6.7 billion.
(AP)
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5 Responses
It has something to do with the large amounts of hydrocarbons found under the state. Other states (New York in particiular) could be affluent, but for environmental reasons prefer increased poverty. After all, what good are all the mountains and trees if you are too busy working to enjoy it.
“the state’s efforts to create jobs and career opportunities are getting results”
Get real. The state is benefitting from an oil and boom. Nothing more, nothing less.
Charlie, New York could be having a boom from natural gas, but the Democrats prefer poverty over exploiting those resources. That’s a function of policy decisions.
charlatan hall is once again full of himself.
the FACT is that ND allows for getting the natural resources that the Good L-rd put there. they are NOT beholden to the envirokooks whom charlatan hall is quite fond of. that’s why people are making good money there and the state unemployment number is around 3%, possibly a bit lower.
Umm, ok wow. New York is one of the richest, if not THE richest states in the US. Its GDP rivals most countries. That’s why a 500 square foot shoebox in Manhattan costs the same as a 40 acre ranch with a 6,000 square foot mansion near Bismarck. New York is home to, or has a branch of, every major financial institution and corporation in the world. It’s home to the New York Stock Exchange and the NASDAQ. Compare the average net worth and average wages in New York to North Dakota and it’s not even close. Compare the number of millionaires and it’s not even close.
North Dakota experienced an INCREASE in their income because of the oil and natural gas boom. No one disputes that. But the state was so poor before that, any increase would be substantial percentage-wise. North Dakota had almost no industry and was almost solely agrarian. I recall during the 1992 election, how Bill Clinton touted that, as the governor of Arkansas, he substantially raised test scores and national standing of the student in the state… from 50th in the country to 47th! Same thing here.
Do you know anyone in North Dakota? I know a few people. They like the oil jobs. Getting paid $100k a year to risk your life on an oil rig is appealing to some.
They don’t like the brown water and poisonous air. That’s not enviro-whatever, that’s real life. They accept the trade-off. Not sure how long it will last.