The Morning Economic Report
9:20 am
Mon March 10, 2014

State Economies - 3/10/14

An analysis by Haver Analytics summarizes the extent to which various state economies have recovered from the Great Recession.  Three indicators were used to compile the rankings.  

First, the analysis considers employment gains or losses in each state.  Second, the analysis focuses upon home prices.  Finally, the analysis considers highway miles driven, both a reflection of how many people are driving to work each day and how much merchandise is being shipped to stores. 

At the top of each of these 3 measurements is North Dakota, a state that is being utterly transformed by a shale-related boom in oil production.  Between 2007 and 2013, employment in North Dakota expanded by 25 percent, housing prices rose by nearly a third and the number of miles driven on the state’s highways by roughly a fifth. 

At the bottom of the list is Florida.  As pointed out by writer Floyd Norris, Florida is among the bottom ten in each category though it is not the single-worst in any of them.  Nevada is at the bottom in terms of both jobs and home prices.  Overall, Maryland ranks 33rd in terms of its recovery, behind neighbors such as Virginia at number 26 and Pennsylvania at number 30, but ahead of Delaware at number 45.