UNDATED – With California on track to overtake Germany as the world’s fourth largest economy, the personal-finance website WalletHub today released its report on 2023’s Best & Worst State Economies, as well as expert commentary.
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 data set ranges from change in GDP to startup activity to the share of jobs in high-tech industries.
| Best State Economies | Worst State Economies | ||
| 1. Washington | 42. Maine | ||
| 2. Utah | 43. South Dakota | ||
| 3. Massachusetts | 44. North Dakota | ||
| 4. Colorado | 45. Kentucky | ||
| 5. California | 46. Oklahoma | ||
| 6. Idaho | 47. Hawaii | ||
| 7. North Carolina | 48. Mississippi | ||
| 8. District of Columbia | 49. Alaska | ||
| 9. Texas | 50. Louisiana | ||
| 10. Arizona | 51. West Virginia |
Best vs. Worst
- Louisiana has the highest value of exports per capita, $26,246, which is 54.2 times higher than in Hawaii, the state with the lowest at $484.
- New Hampshire has the lowest share of the population living in poverty, 7.40 percent, which is 2.6 times lower than in Mississippi, the state with the highest at 19.40 percent.
- South Dakota has the lowest foreclosure rate, 0.0018 percent, which is 25 times lower than in Illinois, the state with the highest at 0.0450 percent.
- Massachusetts has the highest share of jobs in high-tech industries, 9.28 percent, which is four times higher than in Arkansas, the state with the lowest at 2.30 percent.
- North Dakota has the lowest unemployment rate, 2.10 percent, which is 2.6 times lower than in Nevada, the state with the highest at 5.50 percent.
To view the full report and your state or the District’s rank, please visit:
https://wallethub.com/edu/
