Which state has the best economy?

SALT LAKE CITY (ABC4) – While the US economy continues to hit the COVID-19 Pandemic, even states.

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Some states are better off than others. With the lowest unemployment rate in the country, Utah is often viewed and ranks high as a great economy US News & World Report and the Rich states, poor states: ALEC-Laffer State Economic Competitiveness Index.

A new report from WalletHub compares all 50 states and the District of Columbia using nearly 30 key indicators of economic performance and strength, including change in GDP, startup activity, and proportion of high-tech jobs.

Beehive State took the top spot in the report, displacing Washington and California.

Across all key indicators, Utah recorded the highest change in GDP and the lowest unemployment rate (at the same time as South Dakota and Vermont). The state ranked second in terms of start-up activity and payroll changes outside of agriculture, falling to Nevada and Idaho, respectively.

Utah ranked third for the highest median household income.

On the basis of economic health, Utah ranked second, just behind Idaho. Based on innovation potential, WalletHub ranked Utah in 10th place, just behind Colorado.

Here are the top five rated states in this report:

  1. Utah
  2. Washington
  3. California
  4. Massachusetts
  5. Idaho

Here are the five lowest states:

  1. Hawaii
  2. West Virginia
  3. Louisiana
  4. Alaska
  5. Oklahoma

For the full report, Click here.

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