California, Texas, New York and Florida have economies so large that if they were countries, they would rank in the top 20 in the world. To determine America’s top economic performers across a variety of metrics, the personal-finance website WalletHub today released its report on 2024’s Best & Worst State Economies, as well as expert commentary.
WalletHub compared the 50 states and the District of Columbia across 28 key indicators of economic performance and strength. The data set ranges from GDP growth and the unemployment rate to startup activity and the share of jobs in high-tech industries.
South Dakota is ranked 41st overall. It scored strong, 8th, for overall economic health, but poor for Economic Activity and Innovation Potential, where it was 45th and 48th respectively.
| Best State Economies | Worst State Economies |
| 1. Washington | 42. Ohio |
| 2. Utah | 43. Maine |
| 3. Massachusetts | 44. Iowa |
| 4. Texas | 45. Rhode Island |
| 5. California | 46. Kentucky |
| 6. Colorado | 47. Louisiana |
| 7. Florida | 48. Arkansas |
| 8. North Carolina | 49. West Virginia |
| 9. District of Columbia | 50. Hawaii |
| 10. Arizona | 51. Mississippi |
Best vs. Worst
- Louisiana has the highest value of exports per capita, which is 54.9 times higher than in Hawaii, the state with the lowest.
- New Hampshire has the lowest share of the population living in poverty, which is 2.6 times lower than in Mississippi, the state with the highest.
- Vermont has the lowest foreclosure rate, which is 14.5 times lower than in District of Columbia, the state with the highest.
- Massachusetts has the highest share of jobs in high-tech industries, which is four times higher than in Arkansas, the state with the lowest.
- North Dakota has the lowest unemployment rate, which is 2.8 times lower than in Nevada, the state with the highest.
To view the full report and your state or the District’s rank, please visit:
https://wallethub.com/edu/states-with-the-best-economies/21697
