Monday, March 18, 2013

North Dakota Economy

http://www.economist.com/news/united-states/21573569-booming-north-dakota-numbers-formation-pressures


North Dakota is experiencing an uncanny economical boom in these past two years.  This is due to the crude oil in North Dakota, from 2011 to 2012 production increased by 250,000 barrels per day.  With a surge like this in the economy the wages, standard of living and demand for jobs increased there.  This coupled with the increase of about 5 million from 2011-2012 in the agriculture for ND.  These two resource based industries booming the influx of workers has increased but there have been drawbacks and not everyone is benefitting from this economical boom. There was an increase of monthly emergency room visits from 100 in the past three years up to 400 a month now.  Also the income gap between teachers and health-care workers increased from a difference of $34,000 less than oil and gas employees to $63,000.  The worries stem from the fear that even though the standard of living has gone up in ND there aren't increases in investment for health care and education.

1 comment:

  1. This is interesting. I have cousins that live in North Dakota I will have to ask them more about this. Also the income gap should decrease the amount of money in the state begins to circulate through the government because the government will be able to allocate more money into teachers and other government jobs.

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