News

Agriculture helps keep unemployment rates low

A report in the publication Business Insider points out that eight of the ten states with the lowest unemployment rates have one thing in common—agriculture. 

North and South Dakota lead the way with unemployment rates of 3.6 and 4.4 percent, respectively. Nebraska is third at 4.7, followed by New Hampshire and Vermont.  At number seven is Kansas with an unemployment rate of 6.5.  Wyoming is eighth, and Iowa is number ten at 6.8. 

For each state, Business Insider mentions the importance of agriculture to the lower than average unemployment rate.

Meanwhile, USDA’s Economic Research Service reports that the average family farm household income is expected to be up nearly six percent in 2010, to more than 81-thousand dollars.  Both farm and off-farm income are forecast to be higher.