Friday, October 21, 2011

The "Bismarck Boom": Lowest Jobless Rate in U.S.

 At 3%, Bismarck Has the Lowest Jobless in the U.S., a Booming Labor Market and a Hot Real Estate Market
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In the video above, ABC News features Bismarck, North Dakota, the city with the lowest jobless rate in the country at 3% in August. The energy-related economic boom there is also fueling a real estate boom - homes in Bismarck are selling in three weeks or less at an average selling price of 99% of list price, and home prices have gone up by 6% so far this year. Anchor Diane Sawyer comments at the end of the segment that the "Bismarck Boom" is "like a dream of America as we want it to be." 

Diane Sawyer's dream could become a reality for 1.4 million Americans, who could find new jobs if the U.S. adopts policies that encourage the development of energy resources in the U.S. and Canada, according to a recent study by Wood Mackenzie.   

16 Comments:

At 10/21/2011 4:46 PM, Blogger aorod said...

If we could cut our energy costs, people would have more money to spend on other things. What is it the people in DC don't understand about this?

 
At 10/21/2011 4:57 PM, Blogger Paul said...

Aorod,

"What is it the people in DC don't understand about this?"

Idiots like Obama believe if we can raise fossil fuel energy costs enough, an army of new, politically correct "green jobs" will spring up as they become more competitive.

Workin' out great, ain't it?

 
At 10/21/2011 6:09 PM, Blogger Craig Dennis said...

I just can't get over the sickening irony of Diane Sawyer, someone SOO liberal, saying "like a DREAM of America as we want it to be."

It's America as it never would be under people like Diane Sawyer, Obama, enviro-lunatics like Gore, and the rest.

And that is why the most corrupt Republican is still a better buy than a liberal.

 
At 10/21/2011 9:08 PM, Blogger VangelV said...

And that is why the most corrupt Republican is still a better buy than a liberal.

It is not true. Both the socialists and the national socialist are anti-liberty. Voters would be best served to throw out both parties.

 
At 10/21/2011 9:09 PM, Blogger VangelV said...

"What is it the people in DC don't understand about this?"

You expect too much. There is no incentive in doing what is right.

 
At 10/21/2011 10:08 PM, Blogger Rufus II said...

Bismark, ND Population 108,000

Exit Question: Would you live in Bismark, ND if you "Didn't" have a job?

 
At 10/21/2011 10:09 PM, Blogger Rufus II said...

I mean, what, ezzackly, would it be that you were sticking around for? The Weather?

 
At 10/22/2011 6:18 AM, Blogger Jim said...

Given that profitable emerging markets tend to produce even more activity and discovery, I suggest the Wood consulting estimates are on the low end.

By far.

Additionally, while I do not believe government stimulus can ignite an economy, I do believe private investment can have a ripple effect.

 
At 10/22/2011 9:16 AM, Blogger VangelV said...

Exit Question: Would you live in Bismark, ND if you "Didn't" have a job?

Given the fact that it keeps coming up in the top 100 cities to live I would say that yes, some people would prefer to live there given the opportunity.

 
At 10/22/2011 9:17 AM, Blogger VangelV said...

I mean, what, ezzackly, would it be that you were sticking around for? The Weather?

If you like the outdoors and are into fishing and hunting the place is perfect for your needs. It is certainly fairly safe and has a better school system than most cities.

 
At 10/22/2011 1:11 PM, Blogger AIG said...

"Exit Question: Would you live in Bismark, ND if you "Didn't" have a job?"

I drove through Bismarck about 6 months ago. Its not a terrible place. But I stopped at the local Wal-Mart. No offense to anyone from Bismarck...but I have to say what I saw there was the largest collection of the ugliest human beings I have ever seen in my life. Honest.

Fargo is much better. ND was also full of awful shanty-towns. The wages there may be good by ND or SD or Wyoming standards...

...but I wouldn't move there. Its all relative. Whether you are unemployed or not isn't all there is to it. Not all unemployed people are desperate enough to move from one side of the country to the other, to work in an oil field in ND. There's lots of costs associated with moving that may not be offset by the wages in ND.

Of course, I'd suspect a large number of people who do work in these oil fields are somewhat local to the area, ND, SD, Montana, Wyoming etc...and have probably always been employed in "flexible" and fluid jobs like truck driving, farming etc.

PS: Anyway I don't understand the posts on this blog pertaining to ND. ND has the population of a medium-sized city. What exactly are the "economic" lessons to be learned from ND? That if you discover oil, you get jobs? Didn't we already know this?

 
At 10/22/2011 3:09 PM, Blogger Paul said...

Van gel,

"It is not true. G the socialists and the national socialist are anti-liberty. Voters would be best served to throw out both parties."

Lets start with chicken hawk Ron Paul (R)!

 
At 10/22/2011 3:54 PM, Blogger AIG said...

"Lets start with chicken hawk Ron Paul (R)!"

Oh no!! Despite being in government for 35 years, Ron Paul never joined in on the establishment.

He says so. So it must be true. He is the messiah so we can't say anything bad about him.

 
At 10/23/2011 10:26 AM, Blogger VangelV said...

Lets start with chicken hawk Ron Paul (R)!

Chicken hawks are pro war but want others to fight them. That would be the mainstream Republicans and the Democratic Party Leadership, not Ron Paul.

 
At 10/23/2011 10:28 AM, Blogger VangelV said...

Oh no!! Despite being in government for 35 years, Ron Paul never joined in on the establishment.

He says so. So it must be true. He is the messiah so we can't say anything bad about him.


Let's see. He has voted alone more times than anyone in Congress. He has not accepted lobbyist money for junkets and studies. He has not taken the Congressional pension plan. He has been a thorn in the side of the Fed and the big banks that run the US government. Yes, he is not the establishment.

 
At 10/23/2011 1:43 PM, Blogger AIG said...

"He has been a thorn in the side of the Fed and the big banks that run the US government."

??? Are you typing this from your urine covered tent in Zuccotti Park?

 

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