There is not much to say about this months employment/unemployment table except that all of the northern plains is in relatively good shape.

When I say in relatively good shape the Minnesota unemployment rate has a lot of room for improvement, but compared to much of the nation their unemployment rate is a good improvement over the past three years.

South Dakota, although not as good as their sister state of North Dakota, has a significant improvement over the past few years and usually ranks among the best in the nation. So too Montana, and the oil county I show (Richland) looks like North Dakota.

North Dakota, because of the continuing oil development, remains the best state in the northern plains and the nation in terms of the unemployment rate and the increase in jobs.

That is not just a decrease in unemployment, but a real increase in the number of people working in the state. The other factor different than in most states is that North Dakota continues to have an increase in the average disposable income per capita.

Most states that are back to having the same number of jobs as there was before this recession find that the recovered jobs are paid at a lower rate than the jobs that were lost. In North Dakota, driven by the high wages in the oil patch, essentially all jobs have increased in remuneration. It is probably only those retired on not much more than social security payments whose standard of living has declined. The rest of the population is well ahead from a decade ago.

 

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