To identify the states with the best and worst economies, 24/7 Wall St. reviewed for each state average annual GDP growth between 2012 and 2017 from the Bureau of Economic Analysis, the poverty rate from the U.S. Census Bureau’s 2016 American Community Survey, the unemployment rate in June 2018 from the Bureau of Labor Statistics, average annual employment growth rates between 2012 and 2017, and the percentage of adults (age 25+) with at least a bachelor’s degree.
In addition to the components of the ranking, we considered additional state data. GDP in 2017 and industry contribution to each state economy came from the BEA. Exports as a percentage of GDP, the homeownership rate, the median household income, median home value, and uninsured rate came from the U.S. Census Bureau’s 2016 American Community Survey. The affordability ratio of median home value to median household income is a 24/7 Wall St.