The state with the lowest unemployment rate in the country is North Dakota, which is powered by agriculture and commodities. It has an unemployment rate of only 3.6%, which is lower than the national average by 5.9%. The major industries in the state are agriculture, petroleum, food processing, and tourism. Residents who possess a Bachelor's Degree or higher is at 25.7% of the state's population, which is lower than the average, which is 27.57%.
Ten of the top states with the lowest unemployment rates in the country offer many jobs.
The state of South Dakota comes in second for having the lowest unemployment rate in the country. At a rate of only 4.4%, this state is powered by not only help from the government, but by services and agriculture. The jobless rate is lower than the national average by 5.1%. What helps this state? Retail, health, and finance firms provide much help for the state's economy. Ellsworth Air Force Base, the second-largest single employer is located in South Dakota. Twenty five percent of the population in this state has a Bachelor's degree of higher.
Coming in third on the list of states with the lowest unemployment rates is Nebraska, with a rate of only 4.7%, lower than the average by 4.8%. This state has a lot of agricultural and transportation which helps provide jobs. The state specializes in freight transport, telecommunications and manufacturing, information technology. Those who possess a Bachelor's degree of higher is at the national average rate of 27.5%.
Other states with lower than average unemployment rates are New Hampshire (5.8%), Vermont (6.0%), Hawaii (6.3%), Kansas (6.5%), Wyoming (6.7%), Minnesota (6.8%), and Iowa (6.8%). New Hampshire hasn't any state income or sales tax and has one of the nation's highest median salaries. This state also has a highly educated population at 32.5% of the residents having earned a Bachelor's degree of higher. Vermont's housing is known to be quite affordable, as the state ranks 17th in having affordable mortgages. Hawaii is known for its tourism of wealthy people. Kansas is a major oil and natural gas producer and is also a hub of the aerospace industry. Wyoming, although having a low education rate is doing well with its tax policy (only 4%) and tourism which accounts for over $2 billion of the state's annual revenue. Minnesota is home to many large firms in the finished products, services, and raw materials sectors and 33 of the nation's top 1000 publicly-traded firms. Lastly, Iowa offers many jobs in the manufacturing, biotech, finance, insurance, and government services.
Business Insider has suggested that with due to a mixture of industries, skilled workers and the state's resources, this is the reason why some states have a significantly lower unemployment rate than the national average.