Where PA Ranks On The New 'American Dream Prosperity Index'

PENNSYLVANIA — A new study that attempts to quantify "prosperity" as a metric argues that Pennsylvania and much of the nation are experiencing a higher overall level than before the pandemic, despite historic inflation and the lingering economic impacts of COVID-19.

The American Dream Prosperity Index, formulated by the Legatum Institute and the Milken Center for Advancing the American Dream, says that overall trends point towards a more prosperous nation. But there are deep inequalities in how that wealth and security is distributed. Rural communities and Black Americans are particularly impacted, the study acknowledges.

The study comes as inflation increases the cost of nearly everything for Pennsylvanians and many Americans. Consumer prices on things like groceries, rent, and medical costs are surging. Increasing interest rates have led home mortages to hit the 7 percent mark, a level not seen for two decades. Salaries for most failed to keep pace with inflation, as companies placed the burden on employees spending more and saving less, despite a tax break planned for 2023.

While the Washington, D.C.-based organization declares itself nonpartisan, the nonprofit group InfluenceWatch cites it as "endorsing mostly left-leaning policies."

The Index attempted to define prosperity as more than just wealth, but rather as a holistic idea understood through 11 key standards. Notably, Pennsylvania placed 45th in the nation in "economic quality."

Here are Pennsylvania’s scores across the 11 categories considered for the study:

• Safety and security: 23
• Personal freedom: 42
• Governance: 41
• Social capital: 24
• Business environment: 3rd
• Infrastructure: 8th
• Economic quality: 45th
• Living conditions: 18th
• Health: 25th
• Education: 14th
• Natural environment: 33rd

Pennsylvania placed 23rd overall in the ranking.

Other key findings:

• High and rising gun crime, across all but six states, is impacting Americans’ individual sense of their security.
• Mental health levels have weakened in all states.
• A continuing decline in social cohesion and group relationships at all levels of America’s society risks finding common ground to address barriers to prosperity.
• Inflation growth, which is the highest it's been in 40 years, is raising the price of nearly everything and threatens further progress in overcoming the impacts of the pandemic.

Oklahoma, New Jersey, and New Mexico were the leaders among 26 states that saw pre-pandemic levels of overall prosperity. Among a variety of economic factors, entrepreneurs played the biggest role.

More than 90 data sources and 200 indicators were used in the analysis, which covers all 50 states and the District of Columbia. See more about the index here.

Michael Milken, the founder of the Miliken Institute, was pardoned by President Donald Trump in 2019 after pleading guilty to a slew of felonies, including filing false tax returns and securities fraud.