The Economies Of the States Ranked From Best to Worst
Business Insider recently ranked the best and the worst state economies in the nation including The District of Columbia. Where did North Dakota rank?
Last year, North Dakota ranked very high on the list. This year, how did the state fair? First, let's look at the methodology.
We ranked the economies of all the states and D.C. on seven measures: unemployment rates, GDP per capita, average weekly wages, recent growth rates for nonfarm payroll jobs, GDP, house prices and wages
The bottom 5 states are West Virginia, New Mexico, Oklahoma, Louisiana and Wyoming.
The top 5 states are
- Washington St.
- District of Columbia
North Dakota dropped from #1 to # 43. According to Business Insider-
North Dakota had an incredibly rough fall from grace. The state came in at the top of our August ranking but now sits near the bottom.
While the state's unemployment rate of 2.7% remains the lowest among the states and DC, nonfarm payroll jobs have fallen dramatically, dropping 2.9% between November 2014 and November 2015. Meanwhile, North Dakota's GDP fell at an annualized rate of 1.2% in Q2 2015, one of only four states with negative growth.
You can read more on the methodology and see the entire list and rankings here.