{"id":273787,"date":"2023-07-12T09:18:00","date_gmt":"2023-07-12T14:18:00","guid":{"rendered":"http:\/\/csinewsnow.com\/?p=273787"},"modified":"2023-07-12T11:30:40","modified_gmt":"2023-07-12T16:30:40","slug":"north-dakota-leads-nation-in-growth-of-earnings","status":"publish","type":"post","link":"http:\/\/csinewsnow.com\/?p=273787","title":{"rendered":"North Dakota Leads Nation In Growth Of Earnings"},"content":{"rendered":"\n

Bismarck, N.D. <\/strong>\u2013 Recent data<\/a> from the U.S. Bureau of Economic Analysis (BEA) shows North Dakota leading the nation in the growth of earnings and gross domestic product (GDP), underscoring the state\u2019s strong economy and policies working to drive investment, innovation and business expansion, Gov. Doug Burgum said.<\/p>\n\n\n\n

North Dakota experienced the highest growth in real GDP among all 50 states in the first quarter of 2023, surging by 12.4% in the last year \u2013 more than six times higher than the nationwide increase of 2%, according to BEA estimates.<\/p>\n\n\n\n

North Dakota also led the nation in earnings, which increased at an annualized rate of 12.4% in the first quarter of 2023 \u2013 nearly triple the national growth rate of 4.6%.<\/p>\n\n\n\n

Personal income increased at an annualized rate of 11%, ranking North Dakota third behind Maine at 11.4% and Nebraska at 11.1%, according to the BEA report.<\/p>\n\n\n\n

\u201cNorth Dakota is wide open for business, and this data confirms that business is good,\u201d Burgum said. \u201cWith our low taxes and laser focus on innovation over regulation, we can continue to strengthen and diversify our economy, grow our GDP and generate prosperity for all citizens.\u201d<\/p>\n\n\n\n

The BEA noted that agriculture, forestry, fishing and hunting increased in 33 states and was the leading contributor to real GDP growth in 13 states, including the five states with the largest increases: North Dakota, Nebraska, South Dakota, Kansas and Montana.<\/p>\n\n\n\n

Increases in farm earnings also was the leading contributor to growth in personal income in four of the five fastest-growing states: Nebraska, North Dakota, Iowa and South Dakota. North Dakota\u2019s increases in personal income and real GDP attributed to oil and gas extraction and mining also were the highest among all states.<\/p>\n\n\n\n

\u201cNorth Dakota has experienced explosive growth in new project investment, which has led to tremendous wage and new employee growth,\u201d state Commerce Commissioner Josh Teigen said. \u201cThe state has also seen an influx of workers attracted by the higher-paying jobs, providing a case study for how economic development can drive workforce development.\u201d<\/p>\n\n\n\n

The BEA report is available here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bismarck, N.D. \u2013 Recent data from the U.S. Bureau of Economic Analysis (BEA) shows North Dakota leading the nation in the growth of earnings and gross domestic product (GDP), underscoring the state\u2019s strong economy and policies working to drive investment, innovation and business expansion, Gov. Doug Burgum said. North Dakota […]<\/p>\n","protected":false},"author":4,"featured_media":273788,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-273787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-state"],"_links":{"self":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/273787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=273787"}],"version-history":[{"count":1,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/273787\/revisions"}],"predecessor-version":[{"id":273789,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/273787\/revisions\/273789"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/media\/273788"}],"wp:attachment":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=273787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=273787"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=273787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}