U.S. Outlook: The state of the union

Posted By Scott Anderson In Economic Outlook | No Comments

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. [1]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 [2], 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. [2]

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URL to article: https://changematters.bankofthewest.com/2016/08/26/u-s-outlook-state-union/

URLs in this post:

[1] Image: http://blog.bankofthewest.com/wp-content/uploads/2016/08/west_plains_outlook_crop.jpg

[2] full U.S. Outlook: http://blog.bankofthewest.com/wp-content/uploads/2016/08/BankoftheWest_USOutlook_08_26_16.pdf

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