Study ranks states’ economies

Study ranks states’ economies
(Source: Pixabay)

(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 6%, for instance — the personal-finance website WalletHub has released its report on 2019’s Best & Worst State Economies, as well as accompanying videos.

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. The categories range from GDP growth to startup activity to share of jobs in high-tech industries.

Best State Economies

  1. Washington
  2. Utah
  3. Massachusetts
  4. California
  5. Colorado
  6. District of Columbia
  7. Idaho
  8. Oregon
  9. New Hampshire
  10. North Carolina

Best vs. Worst

Louisiana has the highest value of exports per capita, $14,203, which is 31.2 times higher than in Hawaii, the state with the lowest at $455.

Vermont has the lowest unemployment rate, 2.50 percent, which is three times lower than in Alaska, the state with the highest at 7.50 percent.

New Hampshire has the lowest share of the population living in poverty, 8.10 percent, which is 2.7 times lower than in Mississippi, the state with the highest at 21.50 percent.

North Dakota has the lowest foreclosure rate, 0.0053 percent, which is 18.9 times lower than in Delaware, the state with the highest at 0.1001 percent.

To read the full report and see where Mid-South states rank, click here.

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