Utah Ranked #3 Best Economy
U.S. economic growth depends heavily on the performance of individual states. But some contribute more than others. California, for instance, blossomed in 2016 as the sixth largest economy in the world, boasting a GDP that’s comparable in size to the U.K.’s and even larger than those of France and India. Meanwhile, Illinois continues to be in a fiscal free fall, with a record $14.5 billion in unpaid debt — imperiling its schools and social programs — as well as the second-highest unemployment rate in the Midwest.
In order to determine which states are pulling the most weight, WalletHub’s analysts compared the 50 states and the District of Columbia across 27 key indicators of economic performance and strength. Our data set ranges from GDP growth to startup activity to share of jobs in high-tech industries. Read on for our findings, expert insight from a panel of researchers and a full description of our methodology.
Best State Economies