The US is a massive, complex economy, and so too are the component economies of the 50 states and Washington, DC, that make up the whole.
Business Insider combined six measures of labor-market and general economic health for all the states and the District of Columbia. They are the unemployment rate, job growth, per-capita GDP, GDP growth, average weekly wages, and wage growth. By putting all those on a common scale and combining them, we came up with an overall score for each state's economy.
Here's how the economy of each state and DC is doing right now, along with one of each state's official symbols, according to Wikipedia — just for fun:
South Dakota was only one of two states with negative GDP growth in Q4 2017, with the state's GDP declining by 0.5%. The state's April 2018 average weekly wage of $754 was fourth-lowest in the country, but its unemployment rate of 3.4% was lower than the average rate of 4.0% among the states and DC.
North Dakota had the worst year-over-year change in its labor market among the 50 states and DC, with the number of non-farm payroll jobs declining by 1.8% between April 2017 and April 2018. The state also had the worst economic growth, with GDP falling 1.3% in Q4 2017.
Mississippi's Q4 2017 GDP per capita of $37,997 and April 2018 average weekly wage of $709 were both the lowest among the states and DC.
Article by [author-name] (c) Finance - Read full story here.