Florida ranks 31st in overall prosperity according to the American Dream Prosperity Index (ADPI), released by the Milken Center for Advancing the American Dream in partnership with Legatum Institute. The United States continues to see a rise in prosperity, even as we faced the long-term impacts of a pandemic and the economic realities of rising inflation and a shrinking economy. But while the overall trend points to a prosperous nation, prosperity continues to be unequally distributed regionally, often eluding rural communities and Black Americans.
Prosperity is a multidimensional concept which the American Dream Prosperity Index seeks to measure, explore, and understand. The framework of the Index captures prosperity through three equally-weighted domains which are the essential foundations of prosperity — Inclusive Societies, Open Economies, and Empowered People. These domains are made up of 11 pillars of prosperity, built upon 49 actionable policy areas, and are underpinned by more than 200 reliable indicators.
Florida’s strengths include ranking seventh in infrastructure and 17th in natural environment. According to the Index, Florida’s areas for improvement include social capital (ranked 47th), personal freedom (ranked 37th), living conditions (ranked 35th), governance (ranked 33rd), education (ranked 31st), business environment (ranked 31st) and health (28th). Since 2012, the state has improved in multiple areas including safety and security, governance, health and education. Florida is one of 17 states within the Index that has county-level data.
“While our nation faces many challenges including record inflation, increased gun violence, and a deteriorating mental health landscape, we are encouraged by the resiliency of communities across our country as they work to create prosperous lives for their residents,” said the Center’s President Kerry Healey. “The American Dream Prosperity Index was founded on the principle that better data leads to better decisions and outcomes. It is our goal to make this report one of the most important tools for local, state and federal lawmakers and civic leaders.”
“We are encouraged by the steady rebound of prosperity post-pandemic, even in the face of unique regional challenges,” said Legatum Institute CEO Philippa Stroud. “The foundations of the U.S. economy continue to stand strong, particularly due to the innovative entrepreneurial mindset that Americans are known for. This forward momentum highlights the genuine push towards prosperity in the face of continued adversity.”
Across the country, millions of Americans are facing challenges that continue to threaten prosperity. According to the 2022 ADPI, since 2012, all states apart from North Dakota have increased their prosperity, but prosperity remains unequally shared across and within states. For most people, 2022 has been a year of progress as the nation continues to recover from the COVID-19 pandemic and as the economy strengthens. However, this increase in prosperity is tempered by rising gun violence in nearly every state. Also detrimental to the nation’s prosperity is the deteriorating mental health of America, marked by a rise in suicides and opioid-related deaths, even as Americans’ overall health continues to improve.
ADPI’s key findings also point to waning social cohesion across the country as another roadblock to U.S. prosperity. This is seen in the decreasing number of Americans who have helped a stranger, donated money to charity, volunteered or frequently talked to a neighbor.
ADPI National Patterns toward Greater Prosperity:
- In 2022, 26 states have recovered to pre-pandemic levels of overall prosperity, with Oklahoma, New Jersey and New Mexico seeing the biggest improvement. Reasons for the improvement in these states vary, but economic factors such as the increasing number of entrepreneurs played a key role in the post-pandemic rebound and bodes well for further improvement.
- Over the past decade, Americans’ physical health have improved. Since 2012, rates of smoking have fallen by nearly a third, excessive alcohol use has decreased by 17% and pain reliever misuse has decreased by 21%.
- The long-term downward trend in property crime is an encouraging development across the United States, with all but six states improving over the past decade.
ADPI Key Findings:
- While U.S. prosperity rebounded post-pandemic in 2022, current record inflation threatens this recovery
- In 2022, Prosperity has increased in every state except North Dakota, but this progress remains unequally distributed within state and local communities and across ethnic groups
- High and rising gun violence in nearly every state is impacting American’s individual sense of security and prosperity
- Mental health has deteriorated in every state, including increased deaths of despair
- A continuing decline in social cohesion and group relationships at all levels of society creates barriers to prosperity.
Although the data does highlight a substantial number of barricades to prosperity, ADPI can be used to craft unique solutions across all levels of government. A deeper examination of prosperity, prompted by the Index, can reveal individual issues that each state can tackle in order to advance the prosperity of its citizens. This push towards the development of local data-led initiatives, rather than a ‘one size fits all’ approach, is essential for transformation across the country.
The Index has been designed to benefit a wide range of users, including state and county leaders, policymakers, investors, business leaders, philanthropists, journalists, researchers and U.S. citizens.
View the 2022 ADPI here.
View Florida’s state profile here.
View the state-by-state prosperity rankings here.
View state-by-state rankings in specific categories by clicking on the category below.
- Safety and Security
- Personal Freedom
- Social Capital
- Business Environment
- Economic Quality
- Living Conditions
- Natural Environment
“ADPI Key Findings:
While U.S. prosperity rebounded post-pandemic in 2022, current record inflation threatens this recovery
In 2022, Prosperity has increased in every state except North Dakota, but this progress remains unequally distributed within state and local communities and across ethnic groups
High and rising gun violence in nearly every state is impacting American’s individual sense of security and prosperity
Mental health has deteriorated in every state, including increased deaths of despair
A continuing decline in social cohesion and group relationships at all levels of society creates barriers to prosperity.”
All of these bullet points are on Biden-Harris. Open borders are an illegal drug issue. Inflation, that’s on the Biden too. So the American Dream isn’t tied to inflation & anything economic at the Federal level ? Where does Unaffordable healthcare & housing fall in the American Dream. When interest rates increase under the Biden-Harris administration has done, isn’t home ownership part of the American Dream ? Tripling of homeowner’s insurance premiums, that’s a Biden-Harris problem too. When transportation costs skyrocket, due to inflation. That’s part of the American Dream too ? Sounds like all the Biden-Harris voters don’t want to own their Biden-Harris votes per usual. How come Biden hasn’t resolved racism ? How come BLM isn’t protesting the inflation as racist ? Just as a comparison, Elon Musk buying Twitter can be traced to the ruination of Twitter within weeks/months. Yet 2 years into Biden-Harris and the continuing erosion & ruination of the quality of life in America can’t be tied to Biden-Harris and the 2 years that the House & Senate were controlled by Democrats.
Ray W. says
Nice try, Jimbo99, but you can do better.
For example, inflation began rising with the passage of the initial stimulus package signed into law by former President Trump. In fact, the inflation rate more than doubled in the relatively few months left in that administration’s term of office. Since, historically, almost all recessions involve stimulus spending packages and the concurrent effect on inflation, it is hard to argue that a pandemic-induced economic upheaval triggering a stimulus package is on the Biden administration. Again, you can do better.
As for homeowner premiums skyrocketing (tripling, you claim), that seems to be a Florida phenomenon. Again, hard to pin on the Biden administration. You can do better.
Regarding rising transportation costs, chip shortages due to interruptions in foreign factories due to the pandemic sharply curtailed automobile and light truck manufacturing. Some manufacturers responded by cutting production of low-profit models and used the available chips to build high profit models. Gasoline prices skyrocketed due to OPEC’s vote to cut production and Russia’s decision to invade the Ukraine. Again, hard to pin of the Biden administration. You can do better.
It is true that pandemic-triggered mental health issues have increased in scope and severity, mainly due to anxiety, loss of loved ones, and isolation, but again, pandemic related issues cannot be tied solely to the Biden administration. You can do better.
I am old enough to remember the Reagan Recession, during which the Fed raised interest rates to 21.5% to combat inflation caused by the Iran/Iraq War and the concurring crude oil interruptions and price spikes. My first mortgage came as inflation was easing; my interest rate was 13.5%. As I have repeatedly commented, the loan officer at the savings & loan institution that handled my mortgage application told me of his opinion that America would not likely ever see single digit mortgage rates again.
If Dennis C. Rathsam were to post a comment like yours, I would write it off to sheer ignorance. Dennis C. Rathsam presents as a commenter who does not know just how little he knows. But you are not ignorant. I know of your qualities when you set your mind to it. So, why is it that you are compelled to go off the rails? You know better!
What you are writing is, at best, partially correct but seriously inaccurate. Yes, the second stimulus act was signed by Biden; it has also likely contributed to inflationary concerns, just as Trump’s stimulus package did. Yes, the pandemic has spanned two administrations, so the impacts of that devastating international curse can be said to belong to both administrations. Why don’t you focus on the Afghan evacuation? That one belongs to Biden, doesn’t it? Of course, after Trump signed the agreement to end our presence in Afghanistan after nearly 20 years of fighting, according to an article published in The Atlantic, the last year of the Trump administration saw 213 Afghans approved for visas to leave Afghanistan for the United States. 213! As bad as the Biden administration handled the evacuation, we got nearly 70,000 Afghans out. The statute that controls Afghan visas related to those who helped American forces during the war is about 15 years old now. Trump’s administration approved 213 people under that statute in 2020!
Dennis C Rathsa says
What else would you expect from a democratc led organazation. They must really be affraid he’ll run for president. All the polls show De Santis is leading Biden by a large margin….The sharks are out early!
Florida ranks poorly. I just love the title of this story. Love to see when Repubs get a poor rating. Glad Desantis is governor, the poor rating is good while he is Gov. Just love it.
… Me want ice cream. :-(
… Why no more Sally’s ice cream?… Why?… Why? :-(
That’s what happens in a Dictatorship.