Recession? Not In These States!

Recession? Not In These States!

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Unemployment continues to rise even as President Obama promised that it would stay below 8% if his multi-billion dollar spending package was passed as it was last winter. Through May 2009, the last month when figures were available, the national unemployment rate stood at 9.4% with many forecasters predicting that it would eventually top ten percent before the year ends.

Not Every State Is Being Hit Hard

NebraskaAs gloomy as those numbers are, there are some states which are faring poorly (Michigan, California, Oregon, Nevada and North Carolina to name a few) while others seem to be bucking the trend with unemployment rates of five percent or less. Yes, it is true – while the national figure continues to climb some states are doing just fine, thank you. Let’s take a look at four states with the lowest unemployment numbers and the reasons behind their success:

Nebraska (4.4%) – Like the Dakotas and Wyoming, Nebraska’s employment has stayed relatively low thanks to farm work. The Cornhusker State also has a small, but important industrial and business base which includes the world’s largest train yard in North Platte as well as the Omaha headquarters of Berkshire Hathaway

North Dakota (4.4%) – Agriculture dominates the economy of the Peace Garden State but North Dakota also has a growing food processing and petroleum industry. Coal mining is huge, providing most of the energy for the state. Wind farms are being set up all across North Dakota, 21st century energy solutions that the state has embraced.

South Dakota (5.0%) – The Mount Rushmore State’s economy is certainly agriculturally based, but the state also boasts of a large service industry including health care, retail and financial firms. Tourism continues to be an important draw to South Dakota as the Black Hills region remains busy.

Wyoming (5.0%) – The least populace state in the union is also one of the best for finding work thanks to its strong agriculture base, minerals, travel and tourism, the latter because of Yellowstone National Park, Grand Teton, Devils Tower, etc. Coal, natural gas, uranium and petroleum are found in abundance in the Equality State.

When Will The Recession End?

Analysts who are trying to determine when the recession might end are not in agreement as to when that might occur. Most see improvement by early next year, with some people expecting the recession to continue until 2011 with even a modest recovery at that. Regardless, some states are bucking the trend which is good news, perhaps enough of a reason get some people to look elsewhere for employment.

Adv. – Are you prepared to weather out this economic storm? Even if your job is spared, a slowdown in economic activity can mean a future salary reduction or reduced time worked. Visit SayRecession.com for tips on how you can cope with the worst what this economy sends your way including food storage ideas.

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