West Virginia Ranks in Bottom
10
in Overall Prosperity
Some states continue to struggle while the majority
are enjoying pre-pandemic levels of prosperity according to new
report by Milken Center for Advancing the American Dream and
Legatum Institute
Contact: Paul Guequierre, Milken Center for Advancing the American
Dream, pguequierre@mcaad.org
WASHINGTON, November 17, 2022 – West Virginia ranks 48th in
overall prosperity according to the American Dream Prosperity
Index (ADPI), released this month by the Milken Center for
Advancing the American Dream in partnership with Legatum
Institute. The United States continues to see a rise in
prosperity, even as we faced the long-term impacts of a pandemic
and the economic realities of rising inflation and a shrinking
economy. But while the overall trend points to a prosperous
nation, prosperity continues to be unequally distributed
regionally, often eluding rural communities and Black Americans.
Prosperity is a multidimensional concept which the American Dream
Prosperity Index seeks to measure, explore, and understand. The
framework of the Index captures prosperity through three
equally-weighted domains which are the essential foundations of
prosperity — Inclusive Societies, Open Economies, and Empowered
People. These domains are made up of 11 pillars of prosperity,
built upon 49 actionable policy areas, and are underpinned by more
than 200 reliable indicators.
West Virginia ranks 48th in overall prosperity, however the state
performed strongly in personal freedom (ranked 14th) and safety
and security (ranked 18th). According to the Index, West
Virginia’s areas for improvement include health (ranked 51st),
education (ranked 49th), living conditions (ranked 48th) and
business environment (ranked 47th). The state has made the most
improvement in the personal freedom, social capital and natural
environment pillars since the Index began in 2012.
“While our nation faces many challenges including record
inflation, increased gun violence, and a deteriorating mental
health landscape, we are encouraged by the resiliency of
communities across our country as they work to create prosperous
lives for their residents,” said the Center’s President Kerry
Healey. “The American Dream Prosperity Index was founded on the
principle that better data leads to better decisions and outcomes.
It is our goal to make this report one of the most important tools
for local, state and federal lawmakers and civic leaders.”
“We are encouraged by the steady rebound of prosperity
post-pandemic, even in the face of unique regional challenges,”
said Legatum Institute CEO Philippa Stroud. “The foundations of
the U.S. economy continue to stand strong, particularly due to the
innovative entrepreneurial mindset that Americans are known for.
This forward momentum highlights the genuine push towards
prosperity in the face of continued adversity.”
Across the country, millions of Americans are facing challenges
that continue to threaten prosperity. According to the 2022 ADPI,
since 2012, all states apart from North Dakota have increased
their prosperity, but prosperity remains unequally shared across
and within states. For most people, 2022 has been a year of
progress as the nation continues to recover from the COVID-19
pandemic and as the economy strengthens. However, this increase in
prosperity is tempered by rising gun violence in nearly every
state. Also detrimental to the nation’s prosperity is the
deteriorating mental health of America, marked by a rise in
suicides and opioid-related deaths, even as Americans’ overall
health continues to improve.
ADPI’s key findings also point to waning social cohesion across
the country as another roadblock to U.S. prosperity. This is seen
in the decreasing number of Americans who have helped a stranger,
donated money to charity, volunteered or frequently talked to a
neighbor.
ADPI National Patterns toward Greater Prosperity:
In 2022, 26 states have recovered to pre-pandemic levels of
overall prosperity, with Oklahoma, New Jersey and New Mexico
seeing the biggest improvement. Reasons for the improvement in
these states vary, but economic factors such as the increasing
number of entrepreneurs played a key role in the post-pandemic
rebound and bodes well for further improvement.
Over the past decade, Americans' physical health have improved.
Since 2012, rates of smoking have fallen by nearly a third,
excessive alcohol use has decreased by 17% and pain reliever
misuse has decreased by 21%.
The long-term downward trend in property crime is an encouraging
development across the United States, with all but six states
improving over the past decade.
ADPI Key Findings:
While U.S. prosperity rebounded post-pandemic in 2022, current
record inflation threatens this recovery
In 2022, Prosperity has increased in every state except North
Dakota, but this progress remains unequally distributed within
state and local communities and across ethnic groups
High and rising gun violence in nearly every state is impacting
American’s individual sense of security and prosperity
Mental health has deteriorated in every state, including increased
deaths of despair
A continuing decline in social cohesion and group relationships at
all levels of society creates barriers to prosperity.
Although the data does highlight a substantial number of
barricades to prosperity, ADPI can be used to craft unique
solutions across all levels of government. A deeper examination of
prosperity, prompted by the Index, can reveal individual issues
that each state can tackle in order to advance the prosperity of
its citizens. This push towards the development of local data-led
initiatives, rather than a ‘one size fits all’ approach, is
essential for transformation across the country.
The Index has been designed to benefit a wide range of users,
including state and county leaders, policymakers, investors,
business leaders, philanthropists, journalists, researchers and
U.S. citizens.
Here's
a look at the Nation.