How ‘Free’ Is Your State?

How “free” is your state?

A recent study conducted by WalletHub identifies the most and least “independent” states based on health- and wealth-related dependencies in five categories: “consumer finances,” such as credit scores and emergency savings; “government,” or federal funding; “international trade,” such as jobs supported by exported goods; “job market,” such as employer-offered retirement savings and the unemployment rate; and “personal vices,” such as drug use and gambling.

The most independent state, according to the study, is Colorado, with the lowest unemployment rate; the second-highest share of households that have emergency savings; the second-lowest share of jobs supported by exported goods; the second-lowest share of GDP generated by exports; and the fourth-lowest share of households relying on food stamps and/or other assistance.

The least independent state is Louisiana, with the highest share of GDP generated by exports; the third-highest share of adults with gambling disorders; the third-lowest median credit score; the fourth-highest unemployment rate; and the fourth-highest share of jobs supported by exported goods.

The remaining four of the top five most independent states are:

2. Utah

• Highest Median Household Income
• Highest Share of Households With Emergency Savings
• Second-Lowest Share of Adult Binge Drinkers
• Third-Lowest Share of Households Relying on Food Stamps and/or Other Assistance

3. Minnesota

• Highest Median Credit Score
• Second-Highest Employer-Based Retirement Access/Participation
• Second-Least Federally Dependent
• Fourth-Highest Median Household Income

4. New Hampshire

• Lowest Unemployment Rate
• Fourth-Highest Employer-Based Retirement Access/Participation

5. Wisconsin

• Highest Employer-Based Retirement Access/Participation
• Third-Lowest Share of Adults With Gambling Disorders

The remaining four of the top five least independent states are:

49. Kentucky

• Most Federally Dependent
• Fourth-Highest Share of GDP Generated by Exports

48. Alaska

• Highest Share of Jobs Supported by Exported Goods
• Second-Highest Unemployment Rate
• Third-Highest Share of Households Relying on Food Stamps and/or Other Assistance

47. Mississippi

• Highest Share of Adults With Gambling Disorders
• Lowest Median Credit Score
• Second-Most Federally Dependent
• Fifth-Highest Share of Households Relying on Food Stamps and/or Other Assistance

46. West Virginia

• Second-Lowest Median Household Income
• Second-Lowest Share of Households With Emergency Savings
• Fifth-Most Federally Dependent

Source: WalletHub

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