New Study Reports Oregon is Best Run States in U.S.
Thursday, December 27, 2018
GoLocalPDX News Team
Oregon is the best-run state in the U.S., according to a report released earlier this month, by 24/7 Wall Street.
The report evaluated 20 measures of state finances, economy, job market, and social-economic measures.
About Oregon, 24/7 writes;
“Oregon climbed up in rank from fourth best-run state last year to best-run state this year. The West Coast state is also one of the fastest growing by population, adding a net total of about 46,000 residents from migration alone from mid-2016 to mid-2017. The influx has likely contributed to rising home values and increased economic activity, and has added extra tax revenue to the state’s budget.”
24/7 adds, “Oregon’s median home value climbed by 11.2% from 2016 to 2017, the largest increase of any state. Over the same period, the state’s economy expanded by 3.6%, more than all but two other states and far faster than the comparable national GDP growth rate of 2.2%. Oregon’s budget reserves amount to 12.3% of the state’s annual expenditures, and the state has enough money to fund 80.5% of its pension benefits obligations — each larger than the corresponding national shares.”
Oregon by the Numbers:
- 2017 unemployment: 4.1% (22nd lowest)
- Pension funded ratio: 80.5% (12th highest)
- 1 yr. GDP growth: +3.6% (3rd highest)
- Poverty rate: 13.2% (23rd highest)
- Moody’s credit rating and outlook: Aa1/Stable
The top five best run states are:
Louisiana is ranked as the worst run state.
To determine how well each state is run, 24/7 Wall St. built an index of 20 measures of state finances, economy, job market, social-economic measures, and more from a variety of sources.
From the U.S. Census Bureau, they looked at net migration to a state from July 2016 to July 2017 as a percentage of the 2016 population.
24/7 reviewed each state’s finances for the 2016 fiscal year, including revenue, per capita tax collection, expenditure, and debt levels, all from the Census.
Also from the Census, they reviewed the per capita value of a state’s exports.