Massachusetts Has 4th Best Economy in Country: Study

MASSACHUSETTS—While the U.S. economy shows growth, some states are struggling more than others to recover from the Great Recession. Massachusetts is among those that has bounced back the most quickly, according to a new study released by the personal-finance website WalletHub, which conducted an in-depth analysis of 2016’s States with the Best & Worst Economies.

Massachusetts came in fourth, with a list topped by Utah, Washington and California.

WalletHub's analysts compared the 50 states and the District of Columbia using economic activity, economic health and innovation potential.

In order to determine which states are the top economic performers in the U.S., WalletHub’s analysts compared the 50 states and the District of Columbia across three key dimensions: Economic Activity, Economic Health and Innovation Potential.

Economy of Massachusetts (1=Best-Performing; 25=Avg.), according to WalletHub:

• 15th – GDP Growth
• 1st – percentage of Fast-Growing Firms
• 24th – Exports per Capita
• 30th – Business Startup Activity
• 1st – percentage of Jobs in High-Tech Industries
• 7th – Annual Median Household Income
• 19th – Nonfarm Payrolls Change
• 16th – Immigration of U.S. Knowledge Workers
• 19th – Unemployment Rate

The four worst states for economic growth on the list included Maine, West Virginia, Arkansas, and Mississippi last.

For the full report, go here.