Worst in the country for taxes AND the #3 best economy? BS BS BS.
Posted on 09/08/2014 8:44:24 AM PDT by SeekAndFind
The U.S. economy is in pretty good shape. GDP is growing, unemployment is falling, and we're seeing signs that wages may be on the rise. However, the U.S. economic story is actually just an aggregation of 50 economic stories.
Previously, Business Insider examined ranked every state by how quickly the economies were growing. This time around, we calculated which states had the best economies outright.
We ranked each state on seven economic measures: the July unemployment rate; the change in nonfarm payroll jobs from June to July 2014; the 2013 GDP per capita; the 2012 per capita consumption; the 2013 average annual wage; the 2013 exports per capita; and the 2012 government expenditures.
50. Mississippi
Mississippi faces many challenges, frequently coming in last in state rankings of educational attainment and health. Mississippi came in dead last in four out of our seven metrics:
The unemployment rate in July was at 8.0%, the highest in the country.
Gross Domestic Product per capita was just $32,421 in 2013, the lowest among the states.
Mississippi came in last in personal consumption, the largest component of GDP, with just $27,406 per person.
Average annual wages were the lowest in the country, at $36,451.
49. New Mexico
New Mexico has struggled to recover from the Great Recession, with labor conditions and demographics stagnant over the past few years. New Mexico had low scores on most of our metrics:
The average annual wage in New Mexico was somewhat low, at $40,804.
New Mexico's state government finances were in bad shape, with a 2012 deficit of $1.8 billion, which, on a per-capita basis, is the fourth-worst in the country.
International exports made up a much smaller part of New Mexico's economy than for other states, with just $1,307 of exports per capita in 2013.
(Excerpt) Read more at businessinsider.com ...
I cant believe that California’s Economy was not Bottom Rated/
clearly this study is Racess
New York ranked #3? California ranked #11? hmmmm
I call shenanigans.
What are they using for “unemployment rate”? The government rate based on unemployment claims or the actual proportion of able-bodied adults that are not working but want to work?
Second, is the personal consumption adjusted for the local cost of living? A 3 bedroom ranch in Mississippi costa a LOT less than the same house does in New York. If they don’t adjust for local costs, then the income and consumption numbers mean nothing.
Notice all the “blue” states in the top level. I call BS.
Note the two best economies are North Dakota and Texas both of which are riding an oil boom. Imagine how the entire US economy would look if we abandoned the green energy boondoggles and developed our vast oil resources and built the XL Pipeline. The US could easily become energy independent and an oil exporter.
Bingo!
Regards,
***
Just wait till PA elects a Democrat governor in November. With new taxes on oil and gas, the effects on the economy won't be so mixed anymore.
Tax the industry to death. Then watch the jobs and the companies disappear.
All depends on who is filling in the “grade book”
I would like to see the report indexed to show which states have Democrat governors and legislatures, which states have Republican governors and legislatures, and how long since a change in control.
For example, No. 1 on the list, Mississippi, currently had a Republican governor, but was controlled by Democrat governors until 2004. No. 2 on the list, New Mexico, also currently has a Republican governor, but was Democrat controlled until 2011.
what a cheery prospect
I’m struggling to believe this or the previousl growth list.
California and Illinoise numbers are bogus. They have changed the reporting rules to accomodate the polls.
New York ranked number 3? Tell that to folks NOT living in New York City ( which is 60% of the state ).
In related news, New York takes on abandoned 'zombie homes'.
FTA: "You have communities that are on the edge of the foreclosure crisis, with five or 10 abandoned houses."
Article is BS. They rank certain states low because of average income but rate CA high because of it. Yet cost of living is 4x as much as say, South Dakota, while the average income is less than 15k difference.
States with the highest cost of living and greatest gov't spending are ranked highest and that favors the blue states.
the July unemployment rate; the change in nonfarm payroll jobs from June to July 2014; the 2013 GDP per capita; the 2012 per capita consumption; the 2013 average annual wage; the 2013 exports per capita; and the 2012 government expenditures.
And Saudi contributions to the Democrat Party would dry up . . .
One of the stats they use to rank is income per capita but there is no mention of cost of living. The income for New York is skewed because the cost of living is so high in the NYC area.
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