Sunday, April 24, 2011

What's Behind the State With Only 3.6% Unemployment?

Stefan Karlsson points out that North Dakota's unemployment rate is only 3.6%.

What gives?

Karlsson explains:
...the main factor driving North Dakota's boom is increased oil extraction...

With oil prices reaching new highs and with oil production increasing as much as 43% in the latest year alone (and 200% during the latest 5 years), oil is bringing in far more money than ever before to North Dakota.

Another partially related key factor driving North Dakota's boom is the high prices of wheat and many other grains, enriching local farmers.
Bottom line: One big way to get ahead in this economy is to think getting ahead of the inflation.

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