The economy as a whole in the United States has been on an upward trajectory so far in 2017. According to the Bureau of Labor Statistics, the overall unemployment rate of 4.4 percent is down 0.4 percent since January. Of course, certain states are enjoying more favorable business and hiring conditions than others.
A recent CNBC study scored all 50 states on ten major categories and 66 metrics including the quality and availability of the workforce, access to transportation and infrastructure, the cost of doing business, economic conditions, quality of life, technology and innovation, the number and quality of educational institutions, business regulation and litigation trends, venture capital investments, and the cost of living in each state.
While the full study results and methodology are available on the CNBC website, ICS was pleased to see that business and hiring conditions are favorable in many of the locations where we have office locations. Some of the highlights of the study include the following:
Coming in at number three, right behind Washington and Georgia, the state of Minnesota scored highly on the state's economy, quality of life, technology and innovation, and education (ranked #2 in the country for the second year in a row, behind Massachusetts.) Other factors that helped the "Land of 10,000 Lakes" reach third place include a 3.7 percent unemployment rate (as of May 2017), and stable bond ratings.
The Lone Star State came in at #1 in the workforce and infrastructure categories, and reached third place for ease of access to capital. Texas also saw improvement over 2016 rankings in several other categories including the cost of doing business, access to and quality of educational opportunities and cost of living, in which the state jumped to ninth place after being ranked twenty-first in 2016.
Coming in at sixth place overall, Colorado saw an improvement over 2016 for its score in infrastructure. The Rocky Mountain state is known for its quality of life, workforce, technology and innovation and a regulatory/legal climate that is generally business-friendly. With an unemployment rate of just 2.3 percent, Colorado has a shortage of workers and remains a top state for business growth and hiring activity.
Florida, with a GDP growth rate of 3.1 percent (for Q4 2016), zero individual income tax and stable bond rates came in at number 12 on this year's list. The Sunshine State scored second in the economy category, after Georgia, fourth in access to capital and seventh in infrastructure. Florida also saw its rankings improve in several other categories including cost of living, business friendliness, cost of doing business and quality of life.
ICS Is Where the Action Is
Wherever your business is located, and whatever direction the economy is headed, ICS can help your company with all of its staffing needs. Whether you need to find one candidate to fill a specialized legal or compliance position or you need 20 experienced IT workers, we've got you covered.
ICS is more than a typical staffing agency. We specialize in helping organizations fill everything from entry-level to skilled executive roles in accounting and finance, legal and compliance, information technology and corporate support roles. We pre-screen each of our candidates, so you can be sure the contract, permanent or temporary to permanent workers we send your way will have the skills you are looking for. We also offer employer of record payroll services to help companies mitigate the risks of misclassifying their 1099 contractors.
To learn more about how we can help with your staffing needs, and to get started, contact us in any of our offices across the country - New York, Washington, D.C., Fort Lauderdale, Chicago, Dallas, Houston, Minneapolis and Denver.