by J.D. Davidson
Celebrating Independence Day means a little more for some states than others, at least in terms of being independent and self-sufficient.
A report from personal finance website WalletHub showed which states were the most-self-sufficient, and Ohio ranked 36th in where Americans are the most self-reliant despite the COVID-19 pandemic.
To determine the ranking, WalletHub compared five sources of dependency: consumer finances, the government, the job market, international trade and personal vices. Those categories were broken down into 39 key indicators.
“Ohio is the 15th-least independent state,” WalletHub analyst Jill Gonzalez said. “Its residents lack financial independence because only about 30% of them save for their children’s college education – the fifth-lowest share in the country – and the state has one of the highest percentages of underwater mortgages, almost 9, as well as high foreclosure and bankruptcy rates”
Ohio ranked near the top in government dependency, coming in 19th, and it also ranked well in job market dependency, at 18th. It came in 39th in financial dependency.
“Its government dependency is given by the large share of households receiving public assistance and food stamps,” Gonzalez said. “In terms of vice dependency, Ohio has the fourth-largest share of current adult smokers, over 21%, and one of the largest percentages of social network users – almost 79.”
Utah ranked as the country’s most self-reliant state, followed by Colorado, Nebraska, Virginia and Kansas. The worst was Louisiana, followed by Kentucky, Mississippi, South Carolina and Alaska.
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An Ohio native, J.D. Davidson is a veteran journalist with more than 30 years of experience in newspapers in Ohio, Georgia, Alabama and Texas. He has served as a reporter, editor, managing editor and publisher. He is regional editor for The Center Square.
Photo “Ohio state flag” by Jeff Kubina CC BY-SA 2.0.
