Economic growth varies significantly from state to state, California recently became the fifth largest economy in the world, while Alaska has an unemployment rate of over 6%. With those numbers in mind, the personal-finance website WalletHub recently released its report on 2019’s Best & Worst State Economies. Analyst Jill Gonzalez tells us where Georgia ranked.
“Georgia does pretty well here, it ranked 14th overall so one of the better performing economies when we’re looking across the country” Gonzalez said. “That’s a data set that includes GDP growth, startup activity, share of jobs in high industry, so all-in-all, doing pretty well.”
Analysts considered a variety of factors in determining the list, with Georgia doing particularly well when it comes to economic activity.
“Georgia did best simply when it comes to economic activity; it’s had great GDP growth year over year, a lot of fast-growing firms there, debts as a percentage of GDP is pretty low and the startup activity is pretty high.”
And while the Peach State was among the top 15 overall, there is room for improvement.
“In its innovation potential, so we’d like to see more jobs in high-tech industries, a little bit more stem employment; that’s science, technology, engineering and math. That’s where we tend to see the most growth.”
Washington was number one of the list, while Alaska came in last at number 51. WalletHub studied the 50 states and Washington, D.C.
To view the entire list, visit WalletHub.com.
