Best and Worst State Economies

WalletHub recently released its study on the best and worst state economies. The personal finance website measured three segments of the economy in order to come up with its rankings:

• Economic activity – GDP growth and start-up activity
• Economic health – unemployment rates, income levels, foreclosure rates and building permits
• Innovation potential – appraising STEM and tech jobs and R&D investment

WalletHub’s 10 Best State Economies

Econ Activity     Econ Health      Innovation

Total Score      Ranking         Ranking         Potential

1. WA            77.60                 1              4                    2

2. UT              73.51                 2              1                    1

3.  MA            70.23                 5              20                  1

4. CA              69.13                 3               35                 3

5.  CO            63.79                 9               3                   8

6.  DC            58.97                 4               15                 15

7.  ID             58.23                 13               2                  18

8.  OR            56.83                 16               22                 7

9.  NH            56.75                 20              17                   5

10.  NC          55.90                 15               11                 12

Other states with notable economies include:

• TX – 12^th overall
• NY – 19^th overall
• NV – 20^th
• NJ – 21^st
• TN – 22^nd
• CONN – 27^th
• IO – 29^th
• OH – 36^th

WalletHub’s 5 Worst State Economies

47. West Virginia
48. Hawaii
49. Mississippi
50. Louisiana
51. Alaska – highest unemployment rate