Low Unemployment and Why

Thursday, September 02, 2010

by Vincent Fernanado - Business Insider

10 States With Ridiculously Low Unemployment -- And Why

Posted Aug 30, 2010 09:27am EDT by Vincent Fernando

Every U.S. state experienced job losses during the recent downturn, but thanks to the right mix of industries, natural resources, and skilled workers, some states have a far lower unemployment rate than the 9.5% national average.

Want to crack the jobs problem? Let's start by studying these sources of American strength...

First, a broad look at America's situation

Unemployment Rate: 9.5%

The economy: Agriculture (1.2% of GDP), Industry (21.9% of GDP), Services (76.9% of GDP)

Education: 27.5% of the adult population has a Bachelor's degree or higher.

Now, the Top 10 States For Jobs

1. North Dakota: Powered by agriculture and commodities

Unemployment Rate: 3.6%

Lower Than America's Unemployment Rate By: 5.9%

Major Industries Driving The State's Economy: Agriculture, petroleum, food processing, and tourism dominate the nation's most job-friendly state.

Education: 25.7% of the adult population has a Bachelor's degree or higher. (Lower than average)

2. South Dakota: Gets a big boost from government, but also has services and agriculture

Unemployment Rate: 4.4%

Lower Than America's Unemployment Rate By: 5.1%

Major Industries Driving The State's Economy: The service sector (especially retail, health, and finance firms) dominates South Dakota's economy, although government-related enterprises also form a large chunk of the GDP. Ellsworth Air Force Base is the second-largest single employer here. Agriculture also contributes heavily to the economy, but its influence is waning.

Education: 25.0% of the adult population has a Bachelor's degree or higher. (Lower than average)

3. Nebraska: An agricultural and transport hub, with some diversity as well

Unemployment Rate: 4.7%

Lower Than America's Unemployment Rate By: 4.8%

Major Industries Driving The State's Economy: Another state reliant on its agricultural sector, Nebraska also specializes in freight transport, telecommunications, manufacturing, information technology, and transportation. And, not to mention, it has the nation's third-wealthiest person amidst its GDP rank.

Education: 27.5% of the adult population has a Bachelor's degree or higher. (Average)

4. New Hampshire: Powered by agriculture, tourism, manufacturing, and a highly educated population

Unemployment Rate: 5.8%

Lower Than America's Unemployment Rate By: 3.7%

Major Industries Driving The State's Economy: Another agricultural heavyweight (dairy products, cattle, and apples dominate on the list of products), New Hampshire also produces machinery, electric equipment, rubber, and plastic products. Due to its famous ski slopes, the state is also a tourist hub come winter. New Hampshire also doesn't have a state income or sales tax and boasts one of the nation's highest median salaries.

Education: 32.5% of the adult population has a Bachelor's degree or higher. (Higher than average)

5. Vermont: Driven by agriculture and industries utilizing the state's highly educated population

Unemployment Rate: 6.0%

Lower Than America's Unemployment Rate By: 3.5%

Major Industries Driving The State's Economy: Farming (especially dairy production and logging) is the bread and butter of Vermont's economy, although manufacturing, insurance, tourism, and quarrying are also major players. Vermont's housing is also quite affordable, as the state ranks 17th in mortgage affordability nationwide.

Education: 33.6% of the adult population has a Bachelor's degree or higher. (Higher than average)

6. Hawaii: A tourism magnet with a large population of affluent Americans

Unemployment Rate: 6.3%

Lower Than America's Unemployment Rate By: 3.2%

Major Industries Driving The State's Economy: Tourism dominates this tax-heavy state while food and apparel exports play more minor roles (given the distance of the islands from all other land source). Also, rich folks apparently love to camp out in Hawaii as much as they might like Florida (the state had the highest percentage of millionaires in the general population).

Education: 29.2% of the adult population has a Bachelor's degree or higher. (Higher than average)

7. Kansas: Powered by agriculture, energy, and aerospace

Unemployment Rate: 6.5%

Lower Than America's Unemployment Rate By: 3.0%

Major Industries Driving The State's Economy: Kansas isn't the land of Dorothy anymore, although it is still a major grain producer and retains its agricultural roots. These days, the state is also a major oil and natural gas producer and is also a hub of the aerospace industry.

% of adult population with a Bachelor's degree or more: 28.8% (Higher than average)

8. Wyoming: Riding commodities, tourism, and perhaps its tax policies. Doing well despite low levels of education.

Unemployment Rate: 6.7%

Lower Than America's Unemployment Rate By: 2.8%

Major Industries Driving The State's Economy: Mineral extraction, agriculture, and tourism drive Wyoming's largely rural economy. The tourism industry alone accounts for over $2 billion of the state's annual revenue. The state is also known for its unusual tax policies -- no individual or corporate income tax and only a 4% sales tax on select items.

Education: 23.4% of the adult population has a Bachelor's degree or higher. (Lower than average)

9. Minnesota: A state with manufacturing, raw materials, and high education

Unemployment Rate: 6.8%

Lower Than America's Unemployment Rate By: 2.7%

Major Industries Driving The State's Economy: Again, the theme here is diversity. Minnesota's economy is home to a variety of firms in the finished products, services, and raw materials sectors and 33 of the nation's top 1000 publicly-traded firms have headquarters in the state.

Education: 31.0% of the adult population has a Bachelor's degree or higher. (Higher than average)

10. Iowa: Outperforming with a diverse economy plus agriculture

Unemployment Rate: 6.8%

Lower Than America's Unemployment Rate By: 2.7%

Major Industries Driving The State's Economy: While commonly perceived as an agricultural hub, Iowa actually boasts a surprisingly diverse economy with jobs in the manufacturing, biotech, finance, insurance, and government services -- all of which contribute to a strong hiring market. The S&P gave the state a Triple-A rating in 2009 (only one of nine to hold the position then).

Education: 24.3% of the adult population has a Bachelor's degree or higher. (Lower than average)

Low Unemployment

Window Wells

Monday, July 26, 2010

by The Houses By Harlan Team

We know of several people that had major problems with window wells filling up & the window breaking with all the pressure! Yes, there was a lot of water problems this past week so maybe it is time to review some ideas on prevention & fixes for water problems.

I will suggest that you check your water drainage systems carefully. Check the sump pumps to see they are working. It might benefit you to have an extra pump on hand. From my experience getting a sump pump after business hours is pretty expensive. Check the down spouts to be sure they are on & directing water far away from the house. (one person we know just had the eaves plugged) so make sure the eaves are clean from debris & are flowing well.

Check the window wells, do they have drain tile in them? If they do make sure they work well. We have heard of one person that the drain tile in the window well was plugged. Is there a large foundation of rock in the bottom of the window well so there is in essence a French drain for some water to accumulate before it reaches up to the bottom of the window well?

One other major concern is to make sure the grading around the house is not directing towards any portion of the house directly. In this storm we noticed that surface drainage needs to get away from the foundation & to have a way to escape from your yard if possible. One of the questions you will answer on the sellers property disclosure is do you have standing water in your yard for more than 48 hours after a heavy rain. Think about that carefully right now so you will be able to answer that question when you go to sell your property.

Check with your insurance agent & see if you have the appropriate insurance in case of future problems. You cannot insure against natural ground water but you can get sump pump failure insurance or sewer backup insurance. You might want to ask your agent if you are in the flood plain & need flood insurance also.

California House

Monday, May 24, 2010

by The Houses By Harlan Team

Here is what $290,000 buys you in Bellflower, suburb of Los Angles, CA.

It is about 1100 sq ft., no basement, single garage and a lot that is about 7000 sq ft. That is a large lot for that area.

Tax Credit in Sioux Falls Real Estate

Wednesday, February 24, 2010

by The Houses By Harlan Team

KELOLAND TV interviewed me about the tax credit for move-up buyers and the first-time home buyers tax credit.

To read the entire article, click here.

Sioux Falls real estate tax credit tax credit existing home buyer first time home buyer

Instructions for Tax Credit

Monday, February 15, 2010

by Internal Revenue Service

For information on the First Time Homebuyer Credit and Repayment of the Credit

Click here: http://www.irs.gov/pub/irs-pdf/i5405.pdf

tax credit

Information About Homebuyer Credit

Wednesday, January 06, 2010

by IRS The Houses By Harlan Team

Ten important facts about the extended first-time Homebuyer Credit

First-Time Homebuyer Credit Expanded and Extended

Homebuyer Credit Extended to April 30, 2010. Some Current Homeowners now also qualify.

Homebuyer credit credit extended Sioux Falls Real Estate

Tips For Saving Energy At Home

Monday, January 04, 2010

by The Houses By Harlan Team

We have a couple items on Energy Efficiency that we would like to share with you. They come from the US Department of Energy. The first one is a 36 page booklet called Energy Savers Booklet. It’s table of contents shows articles on Saving Energy & Money, Your Home’s Energy Use, Insulation and Sealing Air Leak, Heating & Cooling, Water Heating, Windows, Lighting, Appliances, Home office & Home Electronics, Driving and Car Maintenance, & Renewable Energy. This booklet shows you how easy it is to reduce your energy use at home and on the road. The easy, practical solutions for saving energy include tips you can use today throughout your home-from the roof, walls, and insulation that enclose it to the appliances & lights inside.

The second free handout we can share with you is a Home Buyer’s Energy Efficient Checklist. This is a 2 page checklist to give you ideas of what to check for while looking at houses. We would gladly email either of these to anyone that asks for it. If you want a printed copy we will mail that to you as an alternative to sending this through your email.

real estate energy tips energy checklist

Sioux Falls Ranked 12th Best Performing Small City

Saturday, November 21, 2009

by The Houses By Harlan Team

We have continued great news! Sioux Falls was ranked #12 Best Performing Small Cities in Milken Institute annual ranking. Sioux Falls moved up from the #23 position from 2008. Cities are ranked on their ability to create & sustain jobs. This shows that our city is doing well economically especially compared to the rest of the cities. This is an additional compliment to our housing market & also our industry here. Here is a link to the article on the web http://tinyurl.com/siouxfallsranks12th The other 2 Midwestern that are in the report are Bismark, ND (#8) & Fargo ND (#10). We are definitely living in a great place.

SiouxFalls12thBestPerformingCity SiouxFallsGoodHousingEconomy