Report Shows Florida Is The 7th Best Economy In The USA
Looking for a place with a fresh start? Somewhere with more opportunities to prepare for the future? Well, if this is you, then you’ve come to the right place because a new report shows that Florida is the 7th best economy in the USA and we’ll tell you why.
Wallethub looked to key factors like GDP growth and unemployment to business startup activities and available jobs in the tech industry. They analyzed the 50 states, and the District of Columbia, across 28 different key indicators of “economic performance and strength” to determine the states with the best economy in the USA.
WalletHub Analyst Cassandra Happe said, “A strong state economy doesn’t guarantee success for the state’s residents, but it certainly makes financial success more attainable … The best state economies also encourage growth by being friendly to new businesses and investing in new technology that will help the state deal with future challenges and become more efficient.”
States With The Best Economy In The USA In 2024
- Washington: Total Score = 71.10
- Utah: Total Score 62.00
- Massachusetts: Total Score = 61.52
- Texas: Total Score = 60.08
- California: Total Score = 59.63
- Colorado: Total Score = 58.89
- Florida: Total Score = 55.75
- North Carolina: Total Score = 55.08
- District of Columbia: Total Score = 54.15
- Arizona: Total Score = 53.69
What Makes Florida The 7th Best Economy In The USA?
Florida ranks #4 in the economic activity rank and #2 in the economic health rank. As far as innovation potential rank, Florida ranks #31. The Sunshine State rings in at #1 for most startup activity.
Florida also comes in at the #2 spot for ‘change in nonfarm payrolls’. Nonfarm payrolls mean “monthly statistic representing how many people are employed in the US, in manufacturing, construction and goods companies.” But, be careful because certain areas of Florida have home prices jumping up more than others.
To learn more about the states with the best economy in the USA from WalletHub’s report, click here.
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Document Reviewer
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