U.S. economic growth depends heavily on the performance of individual states. But some contribute more than others. California, for instance, is on track to overtake Germany as the world’s fourth largest economy. Meanwhile, Vermont’s GDP is close to 100 times smaller, at around $36 billion compared to California’s $3.6 trillion.
In order to determine which states are pulling the most weight even during this time of economic difficulty caused by inflation, WalletHub compared the 50 states and the District of Columbia across 28 key indicators of economic performance and strength. Our data set ranges from GDP growth to startup activity to the share of jobs in high-tech industries.
Arizona ranked 10th overall in the study.
Economic Performance of Arizona (1=Best; 25=Avg.):
- 15th – Change in GDP
- 9th – Startup Activity
- 17th – % of Jobs in High-Tech Industries
- 26th – Annual Median Household Income
- 12th – Change in Nonfarm Payrolls
- 18th – Government Surplus/Deficit per Capita
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