[Vision2020] The States With the Best and Worst Economies

Kenneth Marcy kmmos1 at frontier.com
Wed Jun 28 08:35:02 PDT 2017

The States With the Best and Worst Economies


Is your state a drag on the American economy or a boon? The 50 states —
as diverse as they are — each contribute something to the U.S. economy.
Because of their diversity, state economies rarely trend in unison. GDP
growth is often the default measure for economic strength, but it often
fails to tell the whole story. Unemployment, poverty, job growth, and
education among other factors can also play a part in defining the
strength of an economy.

Economic vitality is as much about growth as it is about the state’s
ability to support its population — with jobs, education, economic
opportunities and more. In turn, employed, better-paid, and
better-educated residents of a state further contribute to economic growth.

24/7 Wall St. reviewed economic growth, poverty, unemployment, job
growth, and college attainment rates nationwide to compare and rank each
state’s economy. As a result, the best ranked states tend to have
fast-growing economies, low poverty and unemployment, high job growth,
and a relatively well-educated workforce, while the opposite is
generally the case among states with the worst ranked economies.


*18. Idaho*
*> 2016 GDP:* $59.69 billion (9th smallest)
*> 5 yr. GDP annual growth rate:* 1.9% (tied–13th largest growth)
*> Unemployment:* 3.2% (13th lowest)
*> 5 yr. annual employment growth:* 2.5% (8th fastest growth)

Idaho’s annual compound employment growth rate of 2.5% between 2011 and
2016 is among the highest of any state. Due in part to rapid employment
growth, only 3.2% of the state’s labor force is jobless, well below the
4.3% U.S. unemployment rate.

In 2016, the construction sector contributed 0.59 percentage points to
total GDP growth in Idaho, the highest such share of any state. The
uptick in construction was likely driven in large part by new home
construction. New housing starts are up 22.5% in Idaho from the year
prior, one of the largest increases of any state.






-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/vision2020/attachments/20170628/46e3572f/attachment-0001.html>

More information about the Vision2020 mailing list