Why is the unemployment so low in the mid west? (Minot: crime, how much)

[mtlogger]

Originally Posted by Roloff1976

huh? mtlogger, are you kidding? where did you get your info? I would hardly call the oil activity going on in North Dakota "about to bust".

The Bakken field has been operating 45 years - there's nothing "new" about it. I worked for Baker Hughes for about 8 years driving rigs out and back. The rig count is down - which means not as many rigs are being delivered. If there was truly an oil crisis as many speculators would have you believe then why haven't they re-opened Teapot Dome?

Most of our crude and refined products comes from Canada (syncrude), Mexico, Venezuela and Saudia Arabia. Syncrude is the cheapest to make into gasoline and diesel fuels - about half of what it costs for other foreign shippers to bring to our shores via ship, because it comes by pipeline. In the Four Corners there's enough oil shale rock to make enough product that we wouldn't need the #3 & #4 suppliers. But it costs money to refine it and when was the last time a refinery went on-line?

[Roloff1976]

mtlogger...I don't think the Bakken has been in production for 45 years...they KNEW of it, but it wasn't until recently that the technologies made the Bakken viable. With new technologies to access the Bakken formation, and now the Sanish 3forks, things will get busier as long as oil stays in the $60-80 dollar range. Only time will tell I guess, but some nay sayers have been saying the boom was going to bust 2 years ago, and so far they are wrong.

[acfreema]

how many anyones in north dakota are making 60k/year? it's not just a question of how much you're making, but how much stuff costs. i will be the first to tell you that jobs here pay too little; however, to some degree, it is justified

[mtlogger]

Originally Posted by Roloff1976

mtlogger...I don't think the Bakken has been in production for 45 years...they KNEW of it, but it wasn't until recently that the technologies made the Bakken viable. With new technologies to access the Bakken formation, and now the Sanish 3forks, things will get busier as long as oil stays in the $60-80 dollar range. Only time will tell I guess, but some nay sayers have been saying the boom was going to bust 2 years ago, and so far they are wrong.

First wells were drilled in 1974 and Elm Coulee came on line in 2006 tapping into the Bakken field. The amount of on-shore drilling has decreased over the past couple of years despite speculators bidding up oil to $140+ bbl. On shore is harder to accomplish b/c of all the EIS, nimby's and envirowackos. From time of study to actual drill bit hitting soil is on average six years - that is if they can get permission. With directional drilling practices - if you don't sell your rights - they'll drill it anyway and you don't get a red cent!

[nemmert]

Originally Posted by acfreema

how many anyones in north dakota are making 60k/year? it's not just a question of how much you're making, but how much stuff costs. i will be the first to tell you that jobs here pay too little; however, to some degree, it is justified

Is it though? I'll make a separate post...

[Cain]

Most people I believe use the two income model when purchasing a home. So even at say a low pay rate of 30K a year per person, a couple can still purchase a nice home to start with.

If you are single, you will need more income obviously. But, it still within range.

From what I am seeing, if both people in a family are employed in reasonable jobs, they can afford a home in ND.

It will also depend on what you find is acceptable for a home. If you are someone who needs to have 5BR 3BA home, then plan to need the income to purchase it.

[urbancharlotte]

Originally Posted by natepickle

Hello,

I find myself looking for a job and i've noticed that the midwest appears to have low unemployment when compared to the rest of the country.

Why is the unemployment so low in the mid west? Is it because there isnt that many people there?

Are there jobs there and people just dont like the lifestyle?

Jim

Simple. The Midwest adds more jobs than it does people (or better yet, loses more people than it does jobs). In many cases, the areas of the country (with the highest unemployment rates) are those places that are adding folks faster than jobs are being created. In Detroit's case, they are losing jobs faster than they are losing people.

Here in my city (Charlotte), we are gaining folks faster than we can employ them (and they still keep coming). Fortunately, the U/E rate has started to drop as of two months ago. However, this news could just open up the "flood gates" again.

[stockwiz]

favorable tax environment in South Dakota is what has brought in jobs to the state, especially in the eastern corridor.. banking and finance related in Sioux Falls, manufacturing in Brookings. Real estate in Brookings is unacceptably high right now though, in my opinion. Better off renting until the bubble bursts. All those people willing to work overtime drive up the prices of homes on each other.

No state income tax is a nice perk.. let's hope it stays that way.

Cold winters and relatively little to do besides drink is what keeps people from moving in... though to give Sioux Falls credit, their population has exploded and there is a reasonable amount to do.. not a fan of huge cities like Chicago myself.. I would go insane just trying to drive through it. I wonder how Sioux Falls will do if the banking industry finally collapses.... to many white collar paper pushing jobs in america that don't produce anything of real value.. wealth derived from speculation... that will change eventually, it has too.

[ElkHunter]

Originally Posted by stockwiz

favorable tax environment in South Dakota is what has brought in jobs to the state, especially in the eastern corridor.. banking and finance related in Sioux Falls, manufacturing in Brookings. Real estate in Brookings is unacceptably high right now though, in my opinion. Better off renting until the bubble bursts. All those people willing to work overtime drive up the prices of homes on each other.

No state income tax is a nice perk.. let's hope it stays that way.

Cold winters and relatively little to do besides drink is what keeps people from moving in... though to give Sioux Falls credit, their population has exploded and there is a reasonable amount to do.. not a fan of huge cities like Chicago myself.. I would go insane just trying to drive through it. I wonder how Sioux Falls will do if the banking industry finally collapses.... to many white collar paper pushing jobs in america that don't produce anything of real value.. wealth derived from speculation... that will change eventually, it has too.

You do know this is the NORTH Dakota forum? SF is in SOUTH Dakota.

[Wingfoot]

Originally Posted by natepickle

Hello,

I find myself looking for a job and i've noticed that the midwest appears to have low unemployment when compared to the rest of the country.

Why is the unemployment so low in the mid west? Is it because there isnt that many people there?

Are there jobs there and people just dont like the lifestyle?

Jim

Do you mean Northern Plains? People in MI and WI would be surprised to hear of low unemployment.