MS has the 2nd worst economy in the U.S.
MEMPHIS, TN (WMC) - With economic growth varying significantly from one state to another - California recently became the fifth largest economy in the world while Alaska has an unemployment rate over 7%, for instance - the personal-finance website WalletHub has released its report on 2018’s Best & Worst State Economies.
In order to determine America’s top economic performers, WalletHub compared the 50 states and the District of Columbia across 28 key indicators of economic performance and strength, in categories ranging from GDP growth to startup activity to share of jobs in high-tech industries.
Best State Economies:
- District of Columbia
Worst State Economies:
42. New Mexico
45. South Dakota
48. West Virginia
Best vs. Worst
Louisiana has the highest value of exports per capita, $12,161, which is 18.3 times higher than in Hawaii, the state with the lowest at $664.
Hawaii has the lowest unemployment rate, 2.1 percent, which is 3.5 times lower than in Alaska, the state with the highest at 7.3 percent.
New Hampshire has the lowest share of the population living in poverty, 8.5 percent, which is 2.6 times lower than in Mississippi, the state with the highest at 22.3 percent.
South Dakota has the lowest foreclosure rate, 0.0090 percent, which is 18.4 times lower than in New Jersey, the state with the highest at 0.1653 percent.
Massachusetts has the highest share of jobs in high-tech industries, 7.91 percent, which is 3.5 times higher than in Wyoming, the state with the lowest at 2.25 percent.
To read the full report and see where other Mid-South states rank, click here.
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