Minnesota topped a lot of lists in the past year. Forbes ranked Minnesota the 8th best state to do business and the Land of 10,000 Lakes was also named the state with the 5th fastest growing economy in the nation, according to a study by the U.S Bureau of Economic Analysis.
Now there’s another list with Minnesota at the top. Forbes ranked Minnesota the third best place to make a living, behind only Washington and Texas.
The study looked at data from the Bureau of Labor Statistics and the Gallup-Heathways Well-Being index to compile the rankings based on average salary, cost of living, employment rate, and workplace conditions.
Minnesota’s third place ranking is largely due to our low unemployment and high workplace environment score.
Richard Barrington, a senior financial analyst for MoneyRates.com and author of the study, says:
“Often economic news is reported in terms of national figures. A lot of times it creates the perception that we’re all dealing with the same set of conditions across the country. When you drill down, the differences state to state are huge.”
This information could help people struggling to make ends meet in some states decide to relocate to a better environment, Barrington says. With Minnesota at the top of the list, we’re likely to attract more workers and businesses to our state.
And it makes sense why. Minnesota has gained over 150,000 jobs since Governor Dayton took office. Governor Dayton and progressive leaders also created a more fair tax system and made crucial investments in education, including free all-day kindergarten across the state.
Taken altogether, Minnesota is a great place to live. With progressive majorities making key investments in the state, the future looks even brighter.