10 States With Ridiculously Low Unemployment — And Why

I noticed this video a while back which shows how the economic problems mostly hit the coasts and the south first and then slowly moved to the interior of the country. Some of the midwestern and northwestern were barely impacted at all. I particularly paid attention to how Iowa remained strong as the states to the south, east, and north all descended into economic darkness.

I came across an article that explains some of this.

10 States With Ridiculously Low Unemployment — And Why

The 10 states are:

  1. North Dakota
  2. South Dakota
  3. Nebraska
  4. New Hampshire
  5. Vermont
  6. Hawaii
  7. Kansas
  8. Wyoming
  9. Minnesota
  10. Iowa

Some key elements that seem helpful:

  • diverse economy
  • agriculture or another strong sector such as tourism or industry
  • highly educated population

Iowa actually has a lower than average rate of higher education, but that is probably because of a split. There is a lot more agriculture in Western Iowa and a lot more education in Eastern Iowa (I read a few years ago that Iowa City has the highest per capita of highly educated in the country). Most importantly, Iowa balances all of this with a very diverse economy.

I had to check one other factor to see if the data holds up. I’ve recently written about income inequality because of reading the book The Spirit Level. As I expected, according to the data in the book, all these states are among the lowest in income inequality (and among the lowest in social problems). This once again proves the theory that income inequality is bad not simply because it leads to social inequality but because it leads to an unstable economy. Wealthy states like Texas and California were hit hard by the recession maybe because they have some of the highest income inequalities in the country.

The moral of the story: Even if you’re a selfish capitalist or a righteous social conservative, you should still help the poor because in helping them you are helping yourself. If you don’t help the poor, you and your entire community will suffer from your sins. So, quit being an asshole and help the poor.

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