From: ABC News
No state is immune from falling into a recession, except for one: oil-rich Alaska.
What started out as a housing problem in a few states has now exploded into a full-fledged recession, with a majority of states now in or dangerously close to recession.
At the end of September, 30 states were in recession, according to Moody’s Economy.com. Back in March, only five states were in recession: Arizona, California, Florida, Michigan and Nevada.
Even in the last month, the picture has grown more dire. At the end of August, 27 states were in recession and a few were still expanding. But now, Moody’s has determined that Hawaii, Minnesota and Utah have fallen into recession.
Colorado, Massachusetts, Montana, New Hampshire and Texas are also no longer classified as expanding economies. They now are at risk of falling into recession.
The just leaves one part of the country — Alaska — with a still-expanding economy.
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