Your Retirement Life: Cost of Living Higher in These States Part I

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A recent study by the Jefferson City-based Missouri Economic Research and Information Center (MERIC) estimates the average annual cost of living in 2017 for all 50 states. The National Institute for Labor Relations Research used MERIC’s data to calculate the average annual cost of living in Right to Work States and forced-unionism states. As of last year, 28 states are Right to Work—protecting employees from federal labor law provisions authorizing forced union dues and fees.

Here are the results:

Unfortunately, Missouri’s law has yet to take effect as a consequence of Big Labor’s so-far successful exploitation of an obscure state constitutional provision to prevent its implementation.

The 27 states with active Right to Work laws combined had a population-weighted cost of living 6.1% below the national average in 2017. Forced-unionism states combined had a population-weighted cost of living 20.9% above the national average.

(MERIC itself does not weigh states based on population size in calculating its indices.

For that reason, the national average for population-weighted states does not equal 100.)

On average, forced-unionism states were 28.8% more expensive to live in than Right to Work states last year.

The correlation between forced-unionism status and a higher cost of living is robust.

Not one of the 14 highest-cost states in 2017 has a Right to Work law. But the 13 lowest-cost states all have Right to Work laws, and in 12 of the 13 those laws were in effect last year.

Correlation does not equal causation, but there is a compelling case to be made that compulsory unionism actually fosters a higher cost of living.

Union officials wielding forced-dues privileges funnel a large share of the conscripted money they reap into efforts to elect and reelect politicians who favor higher taxes on and heavier regulation of businesses.

Originally posted on Yoursurvivalguy.com.

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E.J. Smith - Your Survival Guy

E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@youngresearch.com.

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