WORCESTER – A new study finds that Massachusetts has the third best state economy in the U.S. The study ranked all 50 states and the District of Columbia (Washington D.C.).
The study compiled 28 economic performance and strength indicators to compile the rankings. The individual metrics that support the overall ranking of Massachusetts are:
1st – % of Jobs in High-Tech Industries
14th – Annual Median Household Income
15th – Change in Nonfarm Payrolls
21st – Change in GDP
25th – Exports per Capita
26th – Startup Activity
The researchers who compiled the study grouped those 28 individual metrics in three categories. Here is how Massachusetts ranked by category:
1st – Potential Innovation
13th – Economic Activity
36th – Economic Health
Only Washington and Utah ranked ahead of Massachusetts in study’s overall ranking. Colorado and California finished out the top five.
The five worst state economies, according to the study are:
46th – Oklahoma
47th – Hawaii
48th – Mississippi
49th – Alaska
50th – Louisiana
51st – West Virginia
To review the full study and its methodology, visit WalletHub.com.
