Study: Michigan ranks 29th in prosperity index
(The Center Square) – A United States Prosperity Index study published by the London-based Legatum Institute think tank ranked Michigan 29th nationwide for prosperity.
The index uses a comprehensive set of indicators grouped into 48 policy-focused elements to update the prosperity of the 50 states and Washington D.C.
The study aims to provide a framework for policymakers to tackle issues scarring states, including rising obesity, high unemployment, declining social networks and weakening mental health.
Michigan ranked:
36th for open economies35th for infrastructure38th for economic quality33rd in health30th in education
Michigan ranked well in some categories, including:
16th for governance22nd in business environment19th in living conditions25th in natural environment
Key study findings include:
The United States is one of the most prosperous countries in the world, ranking 18th out of 167 nations.Prosperity is distributed unevenly across the country.U.S. prosperity had been rising continuously for more than a decade.Prosperity weakened between 2020 and 2021, but a strong resurgence in new business applications signals hope for the recovery.Even prior to COVID-19, there were some significant challenges acting as a brake on U.S. prosperity
The report found every state can improve prosperity by tackling its unique challenges.
For example, pre-pandemic, “one in two adults in a white family were degree-educated, compared to less than one in four for a Black family,” the study noted. “Among those with no college education, a Black American was nearly twice as likely as a white American to be unemployed (15.4% vs. 8.4%).”
The report aims to act as a framework for governments to identify where it falters and target roughly $6 trillion of federal stimulus money to help states and counties recover and rebuild from the pandemic.
Disclaimer: This content is distributed by The Center Square
