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

WalletHub’s 5 Worst State Economies

  1. West Virginia
  2. Hawaii
  3. Mississippi
  4. Louisiana
  5. Alaska – highest unemployment rate