Unemployment down in the USA

Is the economic sun shining on North Dakota? Photo: SamMCox

Indeed, having sat at the top spot for more than two years due to the huge hydraulic fracturing energy boom that has taken place, the state's unemployment rate is just 2.6 per cent.
 
Neighbouring Montana is now catching up as well, with an unemployment rate well below the national average, at 5.2 per cent, putting it 12th in the state rankings. Again, the impact of fracking can be thanked for the state's recent prosperity, particularly in the Eastern regions where the heart of the energy boom is focused.

At the same time as unemployment has been falling, the housing market has been picking up. National Association of Homebuilders Chairman Rick Judson comments:
"More markets are slowly returning to normal levels and we expect this upward trend to continue as an improving economy and pent-up demand brings more home buyers back into the marketplace."
 
In Culbertson, Eastern Montana, this combination of factors can be clearly seen in the success of award-winning developer North Dakota Developments. After the sell-out success of its Great American Lodge Watford City site, which provides fully serviced hotel accommodation for energy workers at the heart of the oil boom, the company launched its Great American Lodge Montana site.
 
"The speed with which Great American Lodge Montana is selling clearly shows the buoyancy that has returned to the US real estate market. The economy is getting stronger by the day, which is fantastic news both for investors and for the lifestyle prospects of Americans across the country."
 
The impact of fracking on employment rates, housing markets and the overall US economy has been fascinating to watch over the course of the country's economic crisis. It enabled entire states to avoid the financial hardship that descended over much of the US. Now, with the national economy strongly back on track, the real financial impact of fracking on the US as a whole is only just beginning to emerge.