Is Utah an independent state?
A new report from WalletHub placed Utah as the second-most independent state in the nation, behind Colorado.
Minnesota, New Hampshire and Wisconsin rounded out the top five.
Massachusetts, California, New Jersey, Virginia and New York finished out the top 10.
WalletHub defined “independent” as a state’s necessity to rely on consumer finances, the government, the job market and the international trade market. That is to say, how well a state can survive without the need for these things.
WalletHub investigated 32 indicators to see how well a state can sustain itself on its own.
Utah earned the top spot for states with the highest percentage of households with emergency funds. It also topped the ranking for highest median household income.
The Beehive state also finished third for lowest percentage of homes receiving food stamps and public assistance, and second for lowest percentage of adult binge drinkers, according to Wallet Hub.
Utah previously ranked as the top state for overall economic outlook for the year, according to Utah Business. These rankings, done by American Legislative Exchange Council, showed which states have the strongest state economies and best chances of succeeding economically this year.
“For an unprecedented 10 years, since the very founding of Rich States, Poor States, Utah has reigned as No. 1 in terms of economic outlook. This is largely due to the state’s many responsible fiscal policies, including an efficient and lean state government, a low overall tax burden and the state’s right-to-work status,” said Jonathan Williams, chief economist of the exchange council, according to Utah Business. “In addition, the public sector pension reforms of 2010 have undoubtedly benefitted Utah in the rankings. Congratulations to the Utah legislators who consistently show their dedication to protecting hard-earned taxpayer dollars and promoting a strong state economy.”