Closest to the trough
The search for great news about Alaska’s economy is hard to find nowadays and a “Business Insider” ranking of it compared to the other states and Washington, D.C., does nothing to make it seem any better, and that cannot be good news in an election year.
The “Business Insider” website, has taken a comprehensive look using six measure of “labor-market and general economic health for all the states and the District of Columbia” to come with rankings. The measures used to score states included unemployment, job growth, per capita GDP, GDP growth, average weekly wages and wage growth, the website said.
Alaska did not fare well. Here is what the website reported about our state:
“Alaska’s August 2018 unemployment rate of 6.7 percent was the highest in the country, and its 0.9 percent decline in the number of non-farm payroll jobs between August 2017 and August 2018 was the worst among the 50 states and D.C.”
The good news is that Alaska beat out Mississippi for the bottom spot, and, with rising oil prices, those non-farm payroll jobs (read oil industry jobs) here may rebound in the coming months.
The top spot in the website’s listing? Surprise! It is none other than Washington, D.C.
The New York Times reports: “For years, Washington and its surrounding suburbs have been among the most affluent in the country. The four highest-earning counties in the United States, as measured by median incomes, are all near D.C., according to the Census Bureau.”
It should be no surprise. The pigs closest to the trough always seem to be the fattest.