Wednesday, August 31, 2011

US Labor Department Singles Out North Dakota for Its Low Unemployment Rate

Link here (regional links break early).

First paragraph of this AP story:
Bismarck has the lowest unemployment rate in the nation, according to information released today.
Unemployment rates fell in a majority of U.S. cities in July, despite a weak economy that is producing few jobs.
And then this:
The biggest monthly decrease was in Morgantown, W.Va. The unemployment rate there fell from 6.6 percent in June to 5 percent in July, mostly because people stopped looking for work. The government only counts people as unemployed if they are actively seeking work. 
And finally:
Bismarck had the nation's lowest rate, at 3 percent. It was followed by Fargo at 3.7 percent, and Lincoln, Neb., at 3.8 percent. Eight of the 10 metro areas with unemployment rates less than 5 percent were in the upper Midwest. North Dakota, in particular, has been helped by a boom in its oil drilling industry.
It should be noted that Fargo is on the eastern side of the state and has no oil industry. Fargo benefits from the low tax rate on the west side of the river, compared to high-tax state, Minnesota, on the east. Bismarck has some oil-related growth, but it, too, is not in the Bakken. 

2 comments:

  1. Well, I think you need to get real. ND has had low unemployment because the state economy has revolved around ag and oil and historically folks had to go elsewhere for jobs (and less severe climate). ND can't seem to
    draw industry beyond ag and oil. Maybe that's ok but would be nice to see diversification .

    ReplyDelete
  2. You're missing the point, but I have to move on.

    Thank you for taking time to comment.

    ReplyDelete