These rankings were then correlated with rankings of states' business climates compiled by three rating agencies-Fantus Co.
Any relationship between states' business climates and their progress in reducing poverty cannot, of course, be viewed in isolation.
Three variables related to labor demand are included: a variable measuring states' business climates (that is, states' attractiveness for business investment), wages in manufacturing, and manufacturing employment.
The coefficients on the business climate, manufacturing wage, and manufacturing employment variables all carry a negative sign, and all are significant.
This is no coincidence, said Prime Minister Nikola Gruevski, according to whom, this is a steady trend that has been going on for several years now as a result of the government policies improving Macedonia's business climate by encouraging domestic companies to perform better and by attracting foreign investors with low taxes, simple administrative procedures, and other measures.
Latest data from the Institute of Public Policy Research, (IPPR) shows that the IJG Business Climate Index climbed by 1 basis point to reach 121.9 in November, extending its winning streak to six consecutive months in the process.
Looking ahead, IPPR says given the metal future prices, vehicle sales and the rising NSX local index, the business climate is set to remain positive for the next six months.