North Dakota, Spurred by Energy and Ag Boom, Has 3.2 Percent Unemployment

[Hot Mega]

Bismarck, North Dakota — In recent weeks, North Dakota has been in the news because of the historic and damaging flooding of the Missouri and Souris Rivers. But as the waters subside, it's worth focusing on the state's economy. For at a time of stagnant wages and a high unemployment rate, this vast, lightly populated Peace Garden State is one of the few places in America where jobs are plentiful.

In May nonfarm payroll employment was up 4.3 percent from the year before, and the unassuming state sported a gaudy 3.2 percent unemployment rate. In several counties, the rate is below one percent. The state jobs office has 15,205 listings, up 64 percent from May 2010. North Dakota, which is one of the smallest states by population (about 670,000) and one of the largest geographically, has .7 unemployed persons for every job opening. In the U.S., the labor force participation rate is an anemic 64.2 percent. In North Dakota, it stands at 74 percent.

In the accompanying video, Aaron Task and I sample buffalo jerky (a local delicacy) and discuss my trip there:

Countinued at link....
http://finance.yahoo.com/blogs/daniel-gross/north-dakota-spurred-energy-ag-boom-3-2-122815061.html

 

[Will E Worm]

Who's going to move to North or South Dakota?

 

[Hot Mega]

Who's going to move to North or South Dakota?

I think that's one of the points of the spread.:2 cents:

 

[Will E Worm]

I think that's one of the points of the spread.:2 cents:

North Dakota, which is one of the smallest states by population (about 670,000) and one of the largest geographically.
Located in the western north-central US, North Dakota ranks 17th in size among the 50 states. Location, size, and extent

NORTH DAKOTA information

People are confined in just a few areas. Overpopulation is a myth.

Map and Information

 

[Bloodshot Scott]

If none of you have been to ND in mid-winter, you can't fathom how cold it is. I would go there if I needed work but not having all the great nightlife around (all the pro sports, colleges, clubs) simply would suck nuts.

 

[ragincaucasian]

Its quite a feat for N. Dakota to have 3.2% unemployment
Of course, when you only have 100 people in that godforsaken state, all it takes is for one Indian to open a casino and hire his children and you've immediately gone from 10% unemployment to 3%

 

[Hot Mega]

Its quite a feat for N. Dakota to have 3.2% unemployment
Of course, when you only have 100 people in that godforsaken state, all it takes is for one Indian to open a casino and hire his children and you've immediately gone from 10% unemployment to 3%

:1orglaugh Well..speaking of casinos and godforsaken states....remember when Nevada was just a sandbox?

 

[Connor Macleod]

Why is anyone surprised? If you don't work, you'll freeze to death!

 

[D-rock]

One of the reasons it can accomplish that is because it has both a very small population and has the right industry at the right time, not to mention the right natural resources. Basically, they got lucky. If either of those changes it would drastically fall apart for them. If a bunch of people move there their unemployment rate would raise by a lot. Those people wouldn’t suddenly find a bunch of work.

 

[maildude]

Solution: Work there May through November, then live in Florida.

 

[RichardNailder]

Lived in North Dakota from 1979 to 1985 and loved it - sad to hear my best friends house flooded last week.

 

[TheOrangeCat]

Awww .. it's cold in North Dakota! Pussies. Try a Quebec winter, then I'll mail you voucher for Kleenex to wipe up the tears of hardship

I'd definitely live there: fewer people = statistically lower chance of being annoyed by assholes.

 

[Bloodshot Scott]

Awww .. it's cold in North Dakota! Pussies. Try a Quebec winter, then I'll mail you voucher for Kleenex to wipe up the tears of hardship

I'd definitely live there: fewer people = statistically lower chance of being annoyed by assholes.

But they talk like this, yeah. And my neighbor's from there yeah, and hated it, yeah?


And their hockey teams bloody suck too.

 

[No_Man]

It's not just the climate that's a deterrent, but the type of work that's available. It's all oil rigs and coal mines. Hard, dirty labor working 12 hr shift in the types of shit holes that'll reduce your life expectancy by 20 years, assuming you survive the first year doing it. I know a guy who just graduated from high school and is moving out to North Dakota to work on a rig. He'll be paid $50K/year plus benefits to do it, but there's also a 1 in 5 chance that he'll be dead or disabled before he's 30. Not the life for everyone.

 

[RichardNailder]

It's not just the climate that's a deterrent, but the type of work that's available. It's all oil rigs and coal mines. Hard, dirty labor working 12 hr shift in the types of shit holes that'll reduce your life expectancy by 20 years, assuming you survive the first year doing it. I know a guy who just graduated from high school and is moving out to North Dakota to work on a rig. He'll be paid $50K/year plus benefits to do it, but there's also a 1 in 5 chance that he'll be dead or disabled before he's 30. Not the life for everyone.

You forgot such pleasant jobs such as custom combining :eeew:


I'm allergic to chaff - fall on the farm always killed me.

 

[accountantNOT]

And yet

North Dakota taxpayers receive more federal funding per dollar of federal taxes paid than the average state. Per dollar of Federal tax collected in 2005, North Dakota citizens received approximately $1.68 in the way of federal spending. This ranks the state 6th highest nationally and represents a rise from 1995, when North Dakota received $1.47 per dollar of taxes in federal spending, ranking it 5th highest.

http://www.taxfoundation.org/research/topic/48.html