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Saturday, December 06, 2008

North Dakota is a bright spot in the U.S. economy

It's a tough time to look for a job in most states, but not in North Dakota, one of the brightest spots in the American economy, reports Monica Davey of The New York Times. Why? "A recent surge in oil production ... a mostly strong year for farmers ... and a conservative, steady, never-fancy culture that has nurtured fewer sudden booms of wealth like those seen elsewhere," she writes.

“Our banks don’t do those goofy loans,” Bismarck car dealer Justin Theel told Davey. At when dealer closings are common, 27 percent more vehicles have been sold in North Dakota than at this time last year, Davey reports. "One of the state’s biggest worries right now is precisely the reverse of most other states: North Dakota has about 13,000 unfilled jobs and is struggling to find people to take them."

The recession has recently put a drag on the state's economy, but it is still expected to keep groing in the next few months. Bob Stenehjem, leader of the state Senate's Republican majority, told Davey, “North Dakota never gets as good as the rest of the country or as bad as the rest of the country, and that’s fine with us.” (Read more)

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