Shelter from the Inevitable Economic Storm
Wednesday, April 20, 2022
The Upper Midwest Offers the Best States To Survive the Next Recession
ORANGE, Calif., April 12, 2022 /PRNewswire/ --To paraphrase: Recessions happen! No one can break the economic cycle. The best you can hope to do is to minimize its impact. And one way you can do that is to.... move... to the Upper Midwest? That's one of the surprising results researchers uncovered in MerchantMaverick.com's "Top States to Survive the Next Recession" report. The full study is available HERE:
MerchantMaverick.com, the business product comparison site for small business owners, determined that the top three states on the list are Nebraska, North Dakota, and Minnesota. (Okay, Nebraska is technically part of the Great Plains, but it's close enough.) No Upper Midwest state ranked lower than Michigan, at number 17. While these states are different in many ways, they all share low unemployment, and governments with prudent tax and spending habits. Many even experienced positive GDP growth during the Great Recession, while other states had stagnant or shrinking GDP.
Key Findings
-- There is no one formula for a state's success. For example, among the
top three states, Nebraska has the second-best debt-to-income ratio in
the country. But North Dakota and Minnesota have ratios right around the
average. Conversely, Nebraska offers unemployment insurance coverage to
around 30 percent of its unemployed, placing it in the lower half of the
country, but Minnesota unemployment insurance coverage to more than 50
percent - the second highest.
-- High per capita GDP isn't enough. New York, Washington, and California
have some of the highest GDPs per capita, and yet, household debt and
high unemployment ranked them in the middle of the country in this
study.
-- The Sunbelt states seem particularly vulnerable to a recession. Six of
the ten worst states to survive a recession hail from that region.
THE TOP 10 STATES TO SURVIVE THE NEXT RECESSION:
#1. Nebraska
#2. North Dakota
#3. Minnesota
#4. Delaware
#5. West Virginia
#6. Oklahoma
#7. New Jersey
#8. Texas
#9. Wisconsin
#10. Illinois
Methodology
To determine the best and worst states to survive the next recession, researchers gathered data from eight separate metrics across all 50 US states. For each metric, states were given a score out of 100 based on each state's rank, with the best-ranked state scoring 100 and the worst-ranked state scoring 0. These individual metric scores were then multiplied by specific weights to achieve an overall score for each state.
Below are the eight metrics the site chose, along with the percentage used to calculate the weight of each metric:
-- Size of state government reserves (17.5%)
-- State GDP per capita (17.5%)
-- Debt-to-income ratio (17.5%)
-- Unemployment insurance coverage (17.5%)
-- Unemployment rate (10%)
-- Housing affordability (10%)
-- State income tax rates (6%)
-- Total state GDP change from 2007 to 2010 (4%)
"We've all heard about 'traditional Midwestern values' of thrift, hard work, and patience," says Mary Brown, Special Projects Director, MerchantMaverick.com. "It seems that these are state government values, too, and they're going to help people when the next recession hits."
About MerchantMaverick.com:
With more than 700,000 page views per month, MerchantMaverick.com is an online publication devoted to providing business owners with accurate, unbiased reviews for their businesses. The company's goal is to provide the most honest, accurate, and useful reviews of business products and services to empower entrepreneurs with businesses of all sizes.
For more information on this list and this topic, please contact Sarah Johnson, 333931@email4pr.com.
CONTACT
Sarah Johnson
917-864-6355
333931@email4pr.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/shelter-from-the-inevitable-economic-storm-301523637.html
SOURCE MerchantMaverick.com
|
|
|
|
|
 |
Asetek - Mandatory Notification of Trade | Jan 22, 2026
|
|
BC.GAME to Host "Stay Untamed" Night During Abu Dhabi's Packed Web3 Summit Week | Jan 22, 2026
|
|
Rent Manager Earned Best Real Estate Software Product Award and Multiple Review Badges from G2 Platform | Jan 22, 2026
|
|
Tomorrowland Brings the Magic to Shanghai for a Spectacular First Indoor Edition in China | Jan 22, 2026
|
|
Auburn University's Applied Research Institute Expands Advanced Manufacturing Capabilities with CF3D Enterprise Cell | Jan 22, 2026
|
|
California Divorce Mediation Center Unveils Modern Website Redesign | Jan 22, 2026
|
|
AMPERA ANNOUNCES LOCATION FOR GLOBAL HEADQUARTERS | Jan 22, 2026
|
|
Gemmy Alerts Customers: Fake Websites Target Holiday Decorators | Jan 22, 2026
|
|
Culture and tourism sectors thrive in Xiamen | Jan 22, 2026
|
|
AMPLIFY Named Finalist in Three Categories at the 2026 Golden Gavel Awards | Jan 22, 2026
|
|
|
