Recent Economic Numbers Are Deceptive
Also, latest CNBC rankings show North Dakota ranked 36th for "Top States For Business", down from 13th last year.
Back in February, I wrote an article about how in real GDP terms (according to the Federal Reserve), North Dakota has been in a “GDP Recession” for the better part of a decade.
The Silent Decade of Recession
North Dakotans feel like the economy is growing. There are more people, more houses, and more businesses openings. The only thing holding us back is a lack of workers. Right? Maybe not. According to the Federal Reserve, when adjusted for inflation, North Dakota has been in the midst of a “GDP Recession” since 2014.
Last week, Governor Doug Burgum issued a press release touting the latest data regarding GDP data issued by the U.S. Bureau of Economic Analysis (BEA).
The headlines of “North Da…
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