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Economic Briefs

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Inmigration in Western N.D. Counties Boosts Taxable Income: North Dakota’s general trend of out-migration has produced long-term economic consequences.
Aging Baby Boomers Will Have Significant Impact on Medicare Enrollment: Population projections for North Dakota indicate that the number of people age 65 and older will grow significantly by 2020.
North Dakota 9th Largest Oil Producer in U.S.: North Dakota’s total oil production in 2007 of approximately 45 million barrels comprised 2.4 percent of the nation’s total production.
Number and Value of N.D. Housing Units Down in 2007: The overall decline in newly authorized housing units in North Dakota between 2006 and 2007 was largely the result of 103 fewer single-family homes authorized for construction.
Growth in North Dakota Personal Income Outpaces Inflation: Even after adjusting for inflation, North Dakota’s personal income increased by 3.8 percent between 2006 and 2007.
Personal Transfer Receipts Continue to Represent Significant Segment of N.D’s Economy: North Dakota residents received $3.41 billion in personal transfer receipts in 2006, an 8.7 percent increase from $3.14 billion in 2005.
Number of Food Stamp Recipients in North Dakota Increased in 2007: Nearly $52 million in food stamp benefits were distributed to North Dakota participants in fiscal year 2007.
N.D. Bankruptcy Cases Down: North Dakota’s trend in bankruptcy filings has followed the national pattern of change.
North Dakota Had Fewer Multiple Jobholders in 2006: North Dakota had the eighth highest multiple jobholding rate in the nation in 2006.
Tax Deductible Charitable Giving Reported by North Dakotans Up in 2005: For North Dakota, individual federal income tax returns with contributions as itemized deductions showed contributions averaging $4,045 per return in 2005.
Majority of North Dakota Children Have Health Insurance, But Many Do Not: Estimates indicate that the 2004 through 2006 average of uninsured children in North Dakota was 9.4 percent.
North Dakota 9th Largest Oil Producer in Nation: North Dakota’s oil production increased sharply in the late 1970s and peaked in 1984 at just less than 53 million barrels.
North Dakota Gross Domestic Product Reaches $26.4 billion: In North Dakota, the government sector was 15.8 percent of the total GDP in 2006.
North Dakota Housing Units Authorized for Construction Down in 2006: North Dakota building permits issued in 2006 decreased 12.6 percent.
Migration Costs North Dakota $1 Billion During 14-year Span: As North Dakota residents continue to leave the state, the economic consequences continue to add up.
Personal Transfer Receipts Significant Segment of N. D. Economy: Personal transfer receipts accounted for 15.3 percent of all personal income received by North Dakota residents in 2005.
Social Security Income in North Dakota Likely to Rise Significantly: Population projections suggest that, due to aging baby boomers, the number of people age 65 and older will increase by more than 50 percent during the next 15 years.
N.D. Continues to Have Large Out-of-state, First-year College Student Population: Forty-four percent of first-year college students in North Dakota came from other states in 2004.
Many North Dakotans Continue to Work Multiple Jobs: North Dakota tied with Wyoming for the highest multiple job holding rates in the nation in 2005.
Bankruptcy Cases Continue to Increase in North Dakota: In 2006, 2,471 bankruptcy cases were filed in North Dakota.