Minnesota Ranks as One of the Most Independent States
ST. PAUL -- The North Star State is proving to be one of the most independent states in the nation according to a study done by the site WalletHub.
All 50 states were compared and Minnesota ranks at #3, coming in behind Utah (#2) and Colorado (#1).
Each state was ranked by their financial dependency, government dependency, job-market dependency, international trade dependency and vice dependency.
For the Land of 10,000 Lakes, we scored a 2 for the financial dependency category. The lower the score the higher the rank. This section looks at median credit score, average savings account balance, employer-based retirement access and other financial items.
Overall, Minnesota came in at #1 of all 50 states for highest median credit score and ranked as #2 for highest employer-based retirement access and participation. Minnesota also ranked as #3 for highest median household income (adjusted by cost of living).
For the other categories Minnesota scored significantly higher, government dependency - 9, job market dependency - 8, international trade dependency - 19 and vice dependency - 37.
As for the least independent states, Mississippi ranks at #48, Kentucky #49 and Alaska #50.
You can see the full study by following the link below.