North Dakota Governor Doug Burgum is being considered as a potential running mate for former President Donald Trump. Trump had previously praised Burgum as one of the best governors in the country. Burgum’s low-key personality and financial resources have made him an attractive candidate to balance Trump’s bombastic style. However, Burgum’s record as governor is under scrutiny, particularly in terms of the state’s economic performance.
Despite Burgum’s favorable relationship with Trump, North Dakota’s economic indicators have raised concerns. The state has seen a decline in the number of jobs since before the COVID-19 pandemic and its post-pandemic growth has been slower than the national average. North Dakota’s economy is heavily reliant on energy and agriculture industries, which are prone to boom-and-bust cycles. Trump’s focus on selecting a running mate who can bolster his economic credentials may pose a challenge for Burgum’s candidacy.
The state’s economic growth rate has been lower than the national average, indicating potential challenges for Burgum’s economic record. The oil exploration boom in North Dakota, particularly in the Bakken region, has slowed down, leading to a stabilization of economic activity. The state’s efforts to attract and retain workers in the region have been affected by the maturation of the oil field, leading to a net out-migration of residents. Despite these challenges, North Dakota has maintained a low unemployment rate and a high labor force participation rate.
North Dakota has seen some positive economic developments, including the lowest unemployment rate in the country, high labor force participation rate, and significant year-over-year economic growth in 2023. The state has also attracted new industries such as data centers, drone, and tourism companies, as well as new soybean-crushing plants and a natural gas-to-liquids plant. Burgum’s administration has focused on diversifying the state’s economy to reduce dependency on volatile industries like energy and agriculture.
Overall, Burgum’s spokesperson has defended the state’s economic performance, citing positive indicators such as low unemployment, high labor force participation, and strong economic growth rates. Despite challenges in certain sectors such as energy and agriculture, North Dakota’s economy is seen as resilient and continuing to strengthen. Burgum’s efforts to diversify the state’s economy and attract new industries have shown some success, contributing to the overall positive economic outlook for North Dakota.
