Michigan ranked 27th in "personal freedoms" on the 2020 Prosperity Index. | stock photo
Michigan ranked 27th in "personal freedoms" on the 2020 Prosperity Index. | stock photo
Michigan ranked 29th in the latest U.S. Prosperity Index from the Legatum Institute.
The index considers growth, economic performance and quality-of-life indicators to determine a score in the 50 states and the District of Columbia.
Eleven pillars of prosperity are evaluated, including inclusive societies, safety and security, personal freedom, business environment and education.
Michigan ranked 25th in inclusive societies, 31st in safety and security, 27th in personal freedom, 26th in business environment and 18th in education, according to The Center Square.
Before the coronavirus pandemic, prosperity had been on the rise in all states, except Alaska. The Legatum Institute's analysis shows that northern states were prospering more than those in the South.
Researchers said the last 10 years marked the longest period of economic expansion in the country's history. Most states were able to build up their financial reserves and become more efficient and competitive.
Massachusetts was ranked as the most prosperous state, while Mississippi was ranked as the least prosperous.
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