Even as it has been close to nine years since the US suffered the biggest economic crisis since the Great Depression whose effects lasted virtually for a decade (1929 to 1939), the recovery has been slow albeit steady this time, a Business Insider report has said. Some states however managed to bounce back stronger than the others. The US News & World Report, as a part of its 2017 Best States Ranking report, has ranked each US state on three economic indicators – growth, employment and business in an effort to find out the best performing ones. Not just that, but also to track jobs availability and migration trends of the young workforce.
According to the data, the most populous states of US, California, Texas, and Florida, have appeared on the list. However, it’s Colorado and North Dakota that have been listed right at the top, the report said. Here is the list of the top 10 states in America based on these parameters where, the economy is humming and creating plentiful jobs and thereby attracting eager beavers looking for gainful employment:
2. North Dakota
As per the report, the agency has studied GDP growth from 2012 to 2015, rate of growth of the total population between 25 to 29 years of age between 2012 and 2015, and average net migration . For the employment data in the country, it did research on annual growth of non farm jobs from 2012 to 2015, the percentage of those aged 16 or older who were part of the labour force in 2015, and the November 2016 unemployment rate. The agency also studied the number of new businesses, which were formed between 2013 and 2015 and the average number of patents per 1 million residents, which were granted on the same period. After this the US News combined these rankings – employment (30%), growth (50%) and business (20%) – to form a list of states that have strongest economies.
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Earlier in April, President Donald Trump signed a number of executive orders, that were aimed at reviving the US economy and bring jobs back in the country, a PTI report had said. Key among these orders was a six-month review of some of the provisions of the Dodd-Frank law, which was passed by his predecessor Barack Obama after the 2008 global financial crisis which Wall Street felt had made their job tougher.