How “free” is your state?

A recent study conducted by WalletHub identifies the most and least “independent” states based on health- and wealth-related dependencies in five categories: “consumer finances,” such as credit scores and emergency savings; “government,” or federal funding; “international trade,” such as jobs supported by exported goods; “job market,” such as employer-offered retirement savings and the unemployment rate; and “personal vices,” such as drug use and gambling.

The most independent state, according to the study, is Colorado, with the lowest unemployment rate; the second-highest share of households that have emergency savings; the second-lowest share of jobs supported by exported goods; the second-lowest share of GDP generated by exports; and the fourth-lowest share of households relying on food stamps and/or other assistance.

The least independent state is Louisiana, with the highest share of GDP generated by exports; the third-highest share of adults with gambling disorders; the third-lowest median credit score; the fourth-highest unemployment rate; and the fourth-highest share of jobs supported by exported goods.

The remaining four of the top five most independent states are:

  1. Utah
  • Highest Median Household Income
  • Highest Share of Households With Emergency Savings
  • Second-Lowest Share of Adult Binge Drinkers
  • Third-Lowest Share of Households Relying on Food Stamps and/or Other Assistance
  1. Minnesota
  • Highest Median Credit Score
  • Second-Highest Employer-Based Retirement Access/Participation
  • Second-Least Federally Dependent
  • Fourth-Highest Median Household Income
  1. New Hampshire
  • Lowest Unemployment Rate
  • Fourth-Highest Employer-Based Retirement Access/Participation
  1. Wisconsin
  • Highest Employer-Based Retirement Access/Participation
  • Third-Lowest Share of Adults With Gambling Disorders

The remaining four of the top five least independent states are:

  1. Kentucky
  • Most Federally Dependent
  • Fourth-Highest Share of GDP Generated by Exports
  1. Alaska
  • Highest Share of Jobs Supported by Exported Goods
  • Second-Highest Unemployment Rate
  • Third-Highest Share of Households Relying on Food Stamps and/or Other Assistance
  1. Mississippi
  • Highest Share of Adults With Gambling Disorders
  • Lowest Median Credit Score
  • Second-Most Federally Dependent
  • Fifth-Highest Share of Households Relying on Food Stamps and/or Other Assistance
  1. West Virginia
  • Second-Lowest Median Household Income
  • Second-Lowest Share of Households With Emergency Savings
  • Fifth-Most Federally Dependent
  1. South Carolina
  • Third-Highest Share of GDP Generated by Exports
  • Third-Lowest Median Credit Score

Source: WalletHub

For the latest real estate news and trends, bookmark RISMedia.com.

The post How ‘Free’ Is Your State? appeared first on RISMedia.

Facebook Comments

Welcome to Malibu Homes

Do you want to learn how to build your own home? Download our FREE guide now by entering your information below and get your free copy of our custom home builders guide.

Thank you. Please check your email for the download link.