Fastest Shrinking Local Economy in Every State
To determine the fastest shrinking local economy in every state, 24/7 Wall St. calculated the change in real GDP from 2013 to 2018 for every U.S. county or county equivalent with data from the Bureau of Economic Analysis. GDP figures are chained to 2012 dollars. All data on industry level GDP also came from the BEA.
Average annual unemployment rates for 2018 and 2013 came from the Bureau of Labor Statistics. Data on population and median household income are five year estimates for 2018 and are from the U.S. Census Bureau’s American Community Survey. Largest place in the county is based on population ACS population estimates and places can include cities, towns, villages, and Census designated places.
Independent cities in Virginia were excluded from analysis.