U.S. Outlook: The state of the union

Chief Economist

The U.S. Presidential election is just 73 days away, and the state of the U.S. economy will be a big factor in how the vote goes down — especially in Senate and Congressional races.

Rear view of man seated on a rock, wearing cowboy hat and looking out over a large beige, hilly valley.So we thought now would be a good time to take a closer look at how the U.S. economy is faring on a number of indicators at the state level.

For more details, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on August 26.

Key observations:

  • While we are near full employment nationally, noticeable unemployment increases have occurred in Wyoming, Pennsylvania, Oklahoma, Iowa, North Datota, and Utah.
  • In contrast, states like California, Oregon, Michigan, and most of the Southern states have seen further declines in unemployment rates in the past year.
  • Many of the Great Plains states to Texas and Louisiana are not experiencing the income gains benefiting much of the coasts and Southern states.
  • Steep declines in energy and agricultural prices — and a strong dollar and weak growth from abroad — are now hurting income growth in the nation’s midsection in a measurable way.

Click here to read my full report.

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