California Has Second 'Best' State Economy, Study Says

Although California boasts the sixth largest economy in the world, it does not the have "best" state economy, according to a new study by WalletHub.

The finance website ranked The Golden State as having the second best economy in the United States. That finding is based on a number of economic factors, from gross domestic product growth and unemployment rates, to the number of available high-tech jobs and filed patents.

Coming in as the only state better than California, Washington state topped the list, ranking No. 1 for highest gross domestic product in the U.S. Washington, along with Louisiana and Texas, also tied for first for the most exports per capita. In comparison, California ranked seventh for gross domestic product and 15th for exports per capita.

California, however, fared better in other categories.

The state, along with Utah, tied for first for the most independent inventor patents. California also came in fifth for both startup activity and the number of high-tech jobs.

Altogether, WalletHub compared the 50 states and the District of Columbia across 27 key indicators of economic performance and strength. After Washington state and California, Utah, Massachusetts and Washington D.C., respectively, rounded out the top five in the website's analysis of 2017’s Best & Worst State Economies. West Virginia ranked at the very bottom of the list.

Here's WalletHub's full ranking:

1. Washington
2. California
3. Utah
4. Massachusetts
5. Washington, D.C.
6. Colorado
7. Oregon
8. New Hampshire
9. Maryland
10. Delaware
11. Idaho
12. Michigan
13. Virginia
14. Arizona
15. North Carolina
16. Connecticut
17. Minnesota
18. Georgia
19. New York
20. Texas
21. New Jersey
22. Florida
23. Missouri
24. South Carolina
25. Wisconsin
26. Vermont
27. Nebraska
28. Indiana
29. Nevada
30. Pennsylvania
31. Montana
32. South Dakota
33. Iowa
34. Illinois
35. Tennessee
36. Rhode Island
37. Ohio
38. Kansas
39. Hawaii
40. New Mexico
41. Alabama
42. North Dakota
43. Wyoming
44. Kentucky
45. Maine
46. Alaska
47. Oklahoma
48. Arkansas
49. Mississippi
50. Louisiana
51. West Virginia

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