Maps
Ranked: The Best and Worst State Economies
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Ranked: The Best and Worst State Economies
View the high resolution version of today’s graphic by clicking here.
On a global scale, the U.S. economy is massive at close to $19 trillion in size.
However, the United States is also the sum of its parts. America represents the union of 50 states and other jurisdictions such as D.C., and all of these state-level economies have their own unique problems to overcome, drivers of growth, and local resources that factor into their prosperity.
How can we compare these state economies on an even playing field?
Ranked: State Economies
Using absolute numbers, it’s hard to directly compare California ($2.75 trillion GDP, 39.5 million people) to a state like Vermont ($33 billion, 0.6 million people). By leveling the playing field, we can get an idea of how states contrast in terms of relative economic strength that companies and workers would better recognize.
Today’s infographic uses 27 metrics from WalletHub to rank state economies. These metrics are grouped into three major categories, which are evenly weighted:
1. Economic Activity: GDP growth, startup activity, exports per capita, and three other metrics
2. Economic Health: Labor force changes, median household income, unemployment, and 13 other metrics
3. Innovation Potential: Entrepreneurial activity, R&D investment, patents per capita, and three other metrics
Note: the full methodology with all 27 factors can be found here.
Here’s how the rankings shake down, for all 50 state economies and D.C.:
Overall | State | Total Score | Economic Activity | Economic Health | Innovation Potential |
---|---|---|---|---|---|
1 | Washington | 76.5 | 1 | 4 | 3 |
2 | California | 73.8 | 2 | 26 | 2 |
3 | Utah | 73.8 | 5 | 1 | 4 |
4 | Massachusetts | 73.3 | 4 | 29 | 1 |
5 | District of Columbia | 67.1 | 3 | 6 | 13 |
6 | Colorado | 66.4 | 15 | 3 | 5 |
7 | Oregon | 65.7 | 6 | 9 | 10 |
8 | New Hampshire | 62.5 | 17 | 10 | 7 |
9 | Maryland | 61.0 | 18 | 28 | 6 |
10 | Delaware | 59.8 | 10 | 20 | 15 |
11 | Idaho | 58.2 | 21 | 2 | 19 |
12 | Michigan | 57.9 | 23 | 33 | 8 |
13 | Virginia | 57.5 | 9 | 18 | 23 |
14 | Arizona | 57.4 | 16 | 24 | 14 |
15 | North Carolina | 57.3 | 24 | 11 | 12 |
16 | Connecticut | 57.3 | 12 | 45 | 9 |
17 | Minnesota | 56.6 | 20 | 16 | 17 |
18 | Georgia | 56.0 | 8 | 21 | 29 |
19 | New York | 55.7 | 7 | 44 | 18 |
20 | Texas | 55.4 | 19 | 15 | 21 |
21 | New Jersey | 55.1 | 11 | 47 | 11 |
22 | Florida | 54.5 | 13 | 12 | 30 |
23 | Missouri | 50.2 | 34 | 19 | 24 |
24 | South Carolina | 49.8 | 14 | 23 | 41 |
25 | Wisconsin | 49.2 | 33 | 14 | 31 |
26 | Vermont | 49.1 | 35 | 31 | 22 |
27 | Nebraska | 49.0 | 36 | 7 | 34 |
28 | Indiana | 48.9 | 26 | 25 | 35 |
29 | Nevada | 48.1 | 22 | 27 | 40 |
30 | Pennsylvania | 47.7 | 25 | 41 | 27 |
31 | Montana | 47.7 | 46 | 13 | 25 |
32 | South Dakota | 47.1 | 39 | 5 | 39 |
33 | Iowa | 47.0 | 31 | 22 | 37 |
34 | Illinois | 46.9 | 27 | 43 | 26 |
35 | Tennessee | 46.4 | 29 | 17 | 44 |
36 | Rhode Island | 46.0 | 40 | 40 | 20 |
37 | Ohio | 45.7 | 30 | 42 | 28 |
38 | Kansas | 44.3 | 43 | 34 | 32 |
39 | Hawaii | 43.7 | 38 | 30 | 38 |
40 | New Mexico | 42.1 | 44 | 51 | 16 |
41 | Alabama | 41.6 | 32 | 38 | 43 |
42 | North Dakota | 41.1 | 51 | 8 | 36 |
43 | Wyoming | 39.4 | 47 | 32 | 45 |
44 | Kentucky | 38.9 | 28 | 46 | 48 |
45 | Maine | 38.9 | 37 | 36 | 47 |
46 | Alaska | 37.7 | 50 | 39 | 33 |
47 | Oklahoma | 37.1 | 49 | 37 | 42 |
48 | Arkansas | 35.9 | 45 | 35 | 50 |
49 | Mississippi | 35.0 | 41 | 48 | 46 |
50 | Louisiana | 33.2 | 42 | 50 | 49 |
51 | West Virginia | 28.1 | 48 | 49 | 51 |
Topping the list for overall score were the states of Washington, California, and Utah, and the first place state in each major category includes Washington (Economic Activity), Utah (Economic Health), and Massachusetts (Innovation Potential).
Case in Point
Looking at statistics and scoring methodologies alone can be a bit esoteric, so let’s look at some individual cases to see some contrast.
Utah (Rank: #3)
Utah consistently ranks as one of the top states for business, in the country, as well as a top state for job growth and employment. It’s also pretty unique in that it has a fairly diversified economy, with major sectors in the tourism, agriculture, tech, manufacturing, finance, energy, and mining industries.
Utah has a higher median household income ($65,977), and a blistering 3.4% employment growth rate.
Florida (Rank: #22)
Using this methodology, Florida falls somewhere in the middle of the rankings. The good news is the state has good employment growth (2.9%) and a myriad of thriving industries like aerospace. The bad news? Florida has the second-highest level of poverty in the union at 19%, and it also has a lower median household income ($50,860) than the national average.
Maine (Rank: #45)
Economic activity is sluggish in the country’s most northeastern state. With an aging population, slow employment growth (0.8%), and a number of lost manufacturing jobs over the last 15 years, the state is trying to rebound. Maine isn’t helped by having one of the highest tax burdens for its citizens and businesses in the country, either.
Demographics
Mapped: Population Growth by Region (1900-2050F)
In this visualization, we map the populations of major regions at three different points in time: 1900, 2000, and 2050 (forecasted).
Mapping Population Growth by Region
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
In fewer than 50 years, the world population has doubled in size, jumping from 4 to 8 billion.
In this visualization, we map the populations of major regions at three different points in time: 1900, 2000, and 2050 (forecasted). Figures come from Our World in Data as of March 2023, using the United Nations medium-fertility scenario.
Population by Continent (1900-2050F)
Asia was the biggest driver of global population growth over the course of the 20th century. In fact, the continent’s population grew by 2.8 billion people from 1900 to 2000, compared to just 680 million from the second on our list, Africa.
Region | 1900 | 2000 | 2050F |
---|---|---|---|
Asia | 931,021,418 | 3,735,089,775 | 5,291,555,919 |
Africa | 138,752,199 | 818,952,374 | 2,485,135,689 |
Europe | 406,610,221 | 727,917,165 | 704,398,730 |
North America | 104,231,973 | 486,364,446 | 679,488,449 |
South America | 41,330,704 | 349,634,344 | 491,078,697 |
Oceania | 5,936,615 | 31,223,133 | 57,834,753 |
World 🌐 | 1,627,883,130 | 6,149,181,237 | 9,709,492,237 |
China was the main source of Asia’s population expansion, though its population growth has slowed in recent years. That’s why in 2023, India surpassed China to become the world’s most populous country.
Southeast Asian countries like the Philippines and Indonesia have also been big drivers of Asia’s population boom to this point.
The Future: Africa to Hit 2.5 Billion by 2050
Under the UN’s medium-fertility scenario (all countries converge at a birthrate of 1.85 children per woman by 2050), Africa will solidify its place as the world’s second most populous region.
Three countries—Nigeria, Ethiopia, and Egypt—will account for roughly 30% of that 2.5 billion population figure.
Meanwhile, both North America and South America are expected to see a slowdown in population growth, while Europe is the only region that will shrink by 2050.
A century ago, Europe’s population was close to 30% of the world total. Today, that figure stands at less than 10%.
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