2023’s Best & Worst State Economies
WalletHub, Jun 5, 2023
U.S. economic growth depends heavily on the performance of individual states. But some contribute more than others. California, for instance, is on track to overtake Germany as the world’s fourth largest economy. Meanwhile, Vermont’s GDP is close to 100 times smaller, at around $36 billion compared to California’s $3.6 trillion.
In order to determine which states are pulling the most weight even during this time of economic difficulty caused by inflation, WalletHub compared the 50 states and the District of Columbia across 28 key indicators of economic performance and strength. WalletHub’s data set ranges from GDP growth to startup activity to the share of jobs in high-tech industries.
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Economic Performance of Hawaii (1=Best; 25=Avg.):
- 47th -- Overall Rank (Total Score 28.76)
- 46th -- Economic Activity
- 41st -- Economic Health
- 48th -- Innovation Potential
- 37th – Change in GDP
- 51st – Exports per Capita
- 41st – Startup Activity
- 46th – % of Jobs in High-Tech Industries
- 40th – Annual Median Household Income
- 28th – Unemployment Rate