Montana Among The Top 20 Most Financially Stable In The Country

My mom always used to tell me "be thankful for what you have, because it could always be worse." As a child I hated that saying, because in that moment there was no way it could be true. Now as an adult, I know exactly what she meant. Thankfully in Montana we actually have it pretty good right now when it comes to financial stability.

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This is not to say that everything sunshine and lollipops. We like much of the country are experiencing some high prices on everyday items.  Yet, like my mother told me "it could always be worse."

SmartAsset.com puts out a list each year that looks at a states financial health. Here's what they say they goes into their rankings

SmartAsset examined data from all 50 states across the following six metrics: poverty rate, January 2021 unemployment rate, one-year change in the unemployment rate, unemployment benefit replacement rate (i.e. average weekly unemployment benefit received as a percent of the average worker’s weekly salary), recent housing insecurity and recent food scarcity.

For 2022 Montana ranked #33, or to put it another way we came in at #18 with thirty-two other states in worse off condition.

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Our unemployment rate of 2.5% was only behind Nebraska 1.7%, Utah 1.9% Oklahoma 2.3% and Idaho 2.4%. That was down from the 2021 report which had us at 5.0%.

The one worrisome stat though is the percent of adults experiencing food insecurity, that went from 5.9% in 2021 to 9.1% in 2022. I think that is what dropped Montana from #44 in 2021 to #33 in 2022.  It's a trend that we hope doesn't continue and when the 2023 report is released we get closer back towards #50.

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