Opening Bell
On Reflection: Living the Dream
Washington ranks high for prosperity in annual study
By Rob Smith March 13, 2023
This article originally appeared in the March/April 2023 issue of Seattle magazine.
Amazon and Microsoft are slashing jobs. Housing prices and rents in the Seattle area remain among the highest in the United States. Recession fears grip the country.
Washington state, however, is enjoying a run of prosperity. So says the Milken Center for Advancing the American Dream in its annual American Dream Prosperity Index, which ranks the state No. 9 in prosperity.
Milken did a deep data dive in 11 areas, including the economy, education and natural environment. Washington fared well in each of those categories, finishing in the top 11 of all states. The state ranked lower in the areas of personal freedom and infrastructure (both No. 30) and safety and security (No. 28).
The United States as a whole, in fact, is doing quite well. Only North Dakota has slid backwards the past decade.
“The foundations of the U.S. economy continue to stand strong, particularly due to the innovative entrepreneurial mindset that Americans are known for,” says Phillippa Stroud, CEO of the Legatum Institute, which helped compile the report. “This highlights the genuine push toward prosperity in the face of continued adversity.”
Massachusetts, Connecticut and Minnesota topped the list. Mississippi, Arkansas and Louisiana finished at the bottom.