I'm not bragging, but ...

North Dakota State Roundup

Published March 1, 2009  |  March 2009 issue

I'm not bragging, but ... | fedgazette March 2009 | Federal Reserve Bank of Minneapolis

Though its economy is small, North Dakota continues to resist the recession gripping most areas of the country. Its unemployment rate was well below 3 percent late last year; third quarter taxable sales grew by 28 percent and retail sales by almost 8 percent, over the previous year. Even the construction sector grew.

The state is seeing a trickle of bad news: Layoffs are occurring in the Williston Basin thanks to low oil prices, the number of out-of-state duck hunters last year dropped by 23 percent over the previous year and Bobcat Co. extended a six-week shutdown of two North Dakota plants.

But while most states are seeing big budget deficits and are begging for federal assistance, North Dakota Gov. John Hoeven unveiled a two-year budget that proposed a 19 percent increase in spending. North Dakota's gross state product grew by more than 50 percent from 2000 to 2008, according to newspaper reports.

Ronald A. Wirtz



Movin' on up, fedgazette, October 2014