2022 Best State Economies: Where Minnesota Ranks

MINNESOTA — Minnesota has the 19th best economy in the United States, according to a new report.

In a 2022 study, WalletHub compared all 50 states and the District of Columbia across 28 factors of economic performance, including state debt, unemployment rate, and change in gross domestic product.

Minnesota is in a five-way tie for the lowest unemployment rate with Utah, Nebraska, New Hampshire, and Kansas. It ranks No. 3 for median annual household income.

These are the top five state economies in 2022, according to the report:

1. Washington
2. Utah
3. California
4. Massachusetts
5. New Hampshire

These are the bottom five state economies, the study found:

47. Oklahoma

48. Hawaii

49. Louisiana

50. Alaska

51. West Virginia

Read the entire study here.