A low unemployment rate, relatively affordable housing and hefty government cash reserves helped propel Nebraska to the No. 1 spot in a new report that ranks U.S. states most likely to survive the next recession.
MerchantMaverick.com, an online publication that provides reviews on businesses, said the top-ranking states in its study shared low unemployment and “prudent tax and spending habits.”
Lead analyist Chris Motola noted that the most recession-resistant states weren’t where one might expect. “Most of them, as it turns out, are in the Heartland.”
He quipped in the report: “One more reason to run for cornfields instead of the hills if the economy flatlines: Nebraska weathered the Great Recession better than most other states.”
In an interview, Motola said Nebraska stood out also for its diverse business economy, which has helped sustain it during rough times, and for the lack of “glaring weaknesses.”
“Sometimes the very things that can make you look great during the boom times can be a liability,” he said, noting popular coastal states that didn’t make the top 10.
The report gathered data from across 50 states and from eight separate metrics that also included state GDP growth and per capita, household debt-to-income ratios and state income tax rates.
Nebraska Examiner is part of States Newsroom, a network of news bureaus supported by grants and a coalition of donors as a 501c(3) public charity. Nebraska Examiner maintains editorial independence. Contact Editor Cate Folsom for questions: info@nebraskaexaminer.com. Follow Nebraska Examiner on Facebook and Twitter.
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