Minnesota Is Named The Country’s Best-Run State
Minnesota is the country's best run state, according to a new study by 24/7 Wall Street.
Just a few years ago, the Land Of 10,000 Lakes rounded out the top ten. Since 2012, it has been climbing slowly. (Last year, it was second.) Now, it lands at number one.
The study took economic and social factors into consideration, among other things.
Here are a few big things that helped boost Minnesota to the number one spot.
Unemployment in 2016 was at about 3.5%. This made Minnesota's unemployment rate the 8th lowest in the whole country.
Credit Rating & Outlook
Minnesota's future is bright when it comes to these two factors. According to Moody, the state has a high credit rating and a very stable outlook.
Minnesota's median household income is about $10,000 above most other states. On top of that, Minnesota has the 6th lowest poverty rate, peaking just under ten percent.
The state brings in several thousand dollars each year from residents in taxes. Higher taxes allow the government to save more, making our "rainy day fund" very promising.