Jobs In North Dakota
September 5, 2011 by USA Post
Jobs In North Dakota, There are plenty of envious North Dakota is on this day. Here was an Aug. 19 headline in the New York Times website. “North Dakota Miracle” And then, just three days later, he, also on site Times: “The happier the United States of America. Dakota North on the rise ”
Happiness is generally low in most of the United States. Unless you are a hedge fund manager or CEO of a Fortune 500 company, the statement has been widely reported that the Great Recession officially “ended” two years ago, it seems a cruel joke. In most states, unemployment remains near record highs, home values?? Are low and state budgets are in disarray.
However, in North Dakota that the recession lasted almost as long as a thaw in January. Unemployment “surged” to 4.3 percent during some months in 2009 before sinking back to 3.3 percent.
What makes this even more remarkable is that the decline has occurred even as thousands of people are investing in the state in search of work, and to find it. Nonfarm payrolls rose 5 percent last year, also the biggest breakthrough in the country.
What is the occasional swarm of locusts, or the annual flood of 100 years, compared with this litany of good news?
- The economy of North Dakota grew 7.1 percent in 2010, the fastest in the country. Only one state, New York, saw an increase in gross domestic product by up to 5 percent.
- Personal income in North Dakota rose 6.9 percent during the first three months of 2011. No state saw personal income grow faster than 2.6 percent, and Minnesota went a meager 1.6 percent.
- Household debt can weigh on consumer spending everywhere but North Dakota has the second credit debt lower card and the lowest percentage of homeowners who are 60 days late on your mortgage.
- Housing prices continue to fall in most states, but in North Dakota are growing faster than anywhere else, even when distressed sales calls are included in the calculation, according to consultancy CoreLogic. When distressed properties are excluded, prices of homes in North Dakota rose 5.6 percent in June from the previous year.
- The budget deficit, cut services and increased taxes have been the norm throughout the country over the past three years, states are rushing to offset the revenue shortfall. Not in North Dakota. Investments in education, health and human services, environment and transport will increase total state spending by 12.5 percent or 1.1 billion, and during the next biennium.
North Dakota is now the fourth largest oil producer largest in the United States. The number of people working in the oil industry has tripled since 2007, more than 16,000, and the growth of jobs since then, can be almost completely corresponds to the state oil industry.
According to the North Dakota Petroleum taxes on oil production and extraction and brought 750 million in revenue. In addition, the industry spent $ 1.49 billion and taxable sales and purchases. The state tax department said that “each increase and or decrease in the price of oil revenues by the impact of the state and 9.3 million gross a year.”
North Dakota is wise salt of this sort of distance, the creation of budget reserves and an emergency fund that can take as long as the end the good times. What happened during the oil crisis of the 1980s and briefly in 2008 when hundreds of platforms were silent in the wake of the financial crisis and the reduction of oil prices?
Until or unless that happens, go ahead and join the good fortune of North Dakota to pure luck.
Still, no luck certainly wins.
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