|
$22,000 in annual income in 2010, the number of unemployed parents and teens who were not in school, and the percentage of children whose families pay more than 30 percent of their income on housing. • For the four states, the findings bucked a national trend. The foundation said its report showed a continued decline in the economic well-being of children since 2005, while documenting improvements in children's health and school results. • Officials in the four states said they did not suffer the worst effects of the national recession, helped by robust prices for farm crops and livestock and, in North Dakota's case, a boom in oil production. • Those states have had relatively stable housing markets and have avoided the collapse in home values suffered in some states during the Great Recession, said Steve Cochrane, managing director of Moody's Analytics, a national economic forecasting firm. • The upper Midwest "had very little of the housing cycle like much of the rest of the country, where you had a boom and a bust," Cochrane said. "And commodity prices have been very, very strong ... particularly for grain crops." • The study's results are reflected in the June jobless rates of the four states. North Dakota had the nation's lowest June unemployment rate at 2.9 percent, followed by Nebraska (3.8 percent) and South Dakota (4.3 percent), according to the federal Bureau of Labor Statistics. Iowa was seventh, at 5.2 percent. The national June jobless rate was 8.2 percent. • North Dakota's economic growth has been boosted by an energy boom. The state's number of oil wells has doubled and its production has increased fivefold since 2007. At almost 640,000 barrels a day, North Dakota now ranks only behind (Continued on page 14)
|
|