You Get What You Pay For

The state-by-state labor data are pretty

It’s understandable that the “bubble” states—California, Nevada, and Florida—all have high unemployment. And of course the domestic auto industry’s troubles are clearly having a major impact on states like Michigan, Indiana, and Ohio.

But the Southeast has also been hit hard. North and South Carolina and Georgia all have above-average unemployment levels. It could be that cyclical manufacturers located in the heart of Dixie are suffering collateral damage from the automaker’s crisis.

Equally interesting are the success stories—states where unemployment is well below the national average. The Great Plains are doing pretty well. Agriculture is still strong. But New Hampshire is tied for the fifth lowest unemployment rate in the country. New Hampshire’s jobless rate of 4.3% stands in stark contrast to Rhode Island’s 9.3%

The distinctive features that make New Hampshire resilient in the face of a significant national recession—a balanced economy, strong educational infrastructure, and a low tax burden—are worth noting. As we face budget troubles like every other state, let’s not kill the goose that lays our golden eggs.

Douglas R. Tengdin, CFA
Chief Investment Officer
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By |2014-09-04T17:06:37+00:00December 23rd, 2008|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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