Saturday, September 25, 2021

    Here’s how the economies of all 50 US states and DC stood before the coronavirus pandemic

    Here’s how the economies of all 50 US states and DC stood before the coronavirus pandemic

    face mask new york coronavirusface mask new york coronavirus

    A man wears a mask to prevent exposure to the coronavirus disease (COVID-19) while walking past the New York Stock Exchange in New York, U.S., March 17, 2020.

    REUTERS/Lucas Jackson


    • The novel coronavirus has already had an effect on the US economy, from a record-breaking number of unemployment claims to businesses being advised to temporarily close during state shutdowns. 
    • We took a closer look at how the US economy was doing at the state level before the crisis began. 
    • We used six different labor-market and economic figures to find out how each state and DC’s economy stood before the coronavirus began spreading across the United States.
    • Colorado surpassed Washington, DC, but the nation’s capital was still near the top of the list along with Utah and Texas. 
    • Visit Business Insider’s homepage for more stories.

    The novel coronavirus has already caused many economic struggles across the US, with various economic indicators already plummeting to Great Recession lows just weeks into the pandemic, according to the New York Federal Reserve.

    Many industries from travel and hospitality to entertainment have already taken a hit from shutdowns and cancellations as a result of the coronavirus.

    On April 2, the Labor Department announced that the number of Americans filing for unemployment benefits hit an unprecedented 6.64 million in the last full week of March. The day after, the monthly jobs report showed that the country lost 701,000 jobs in March, and that report didn’t include the worst of the last two weeks of the month.

    With the national situation looking increasingly bad, Business Insider decided to take a look at how the economies of each state and DC were doing before the crisis began. Much of the government’s economic data for states comes out a few weeks or months after the time being described, so it will be a while before the effects of the pandemic show up in those indicators.

    To find out where each state and DC’s economy stood before the economic hit of the coronavirus and a likely recession, we used six economic figures from January 2020 and the third quarter of 2019: the unemployment rate, job growth, per capita GDP, GDP growth, average weekly wages, and wage growth.

    Each measure was re-scaled to a uniform z-score, allowing us to add the values together to get a final overall economic index for each state and DC that we then ranked from lowest to highest. You can read more about our methods and sources here.

    Washington, DC fell from the top spot from Business Insider’s previous state economy ranking to the No. 2 spot, while Colorado rose from the third best state economy to No. 1. Some states didn’t move too much from the previous ranking, while others moved significantly up or down. For instance, Tennessee moved from No. 33 to No. 21 and Illinois moved from No. 23 to No. 31.

    Read on to find out where each state and DC lands on the list, ranked from lowest to highest:

    51. West Virginia’s wage growth decline of 0.3% from Q3 2018 to Q3 2019 and its job growth decline of 1.2% from January 2019 to January 2020 were the lowest in the country.

    West Virginia



    JodiJacobson/Getty Images


    50. Mississippi’s average weekly wage of $753 and per capita GDP of $40,152 were the lowest among the states and DC, and it had the second-highest unemployment rate in January 2020 at 5.5%.

    Jackson Mississippi



    Sean Pavone/Shutterstock


    49. Louisiana’s GDP growth rate of 2.9% in Q3 2019 was the third-highest among the states and DC, but the state’s wage growth rate of 2.4% from Q3 2018 to Q3 2019 was the third-lowest rate.

    Mardi Gras



    AP Photo/Gerald Herbert


    48. Kentucky’s unemployment rate of 4.3% was higher than the national average of 3.6% in January 2020, and the state’s per capita GDP of $48,255 was the seventh-lowest among the states and DC.

    kentucky derby



    Michael Hickey/Getty Images


    47. Delaware’s per capita GDP of $77,806 was the seventh-highest in the country, but the state did not have any GDP growth in Q3 2019, making it the lowest GDP growth among the states and DC.

    Wilmington Delaware



    DenisTangneyJr/Getty Images


    46. Oklahoma’s unemployment rate of 3.3% was slightly lower than the national average of 3.6% in January 2020, but the state had the second-lowest wage growth from Q3 2018 to Q3 2019 at 2.4%.

    Oklahoma City



    John Elk/Getty Images


    45. Ohio’s average weekly wage of $961 was lower than the national average of $1,086 in Q3 2019 and its unemployment rate of 4.1% was the 10th-highest rate. The state had a 0.2% decline in the number of jobs from January 2019 to January 2020, which was the eighth-lowest job growth rate among the states and DC.

    Cincinatti Ohio



    Adam Jones/Getty Images


    44. Michigan’s unemployment rate of 3.8% was close to the US average of 3.6%, while it had the ninth-lowest wage growth from Q3 2018 to Q3 2019 at 3.0% and tied for the seventh-lowest GDP growth rate at 1.3%.

    Detroit Michigan

    Detroit, Michigan

    TracieMichelle/Getty Images


    43. Iowa’s wage growth rate of 3.2% was slightly less than the national average of 3.7%. The state had the fourth-lowest job growth rate from January 2019 to January 2020 with a decline of 0.4% and tied for the seventh-lowest GDP growth rate at 1.3%.

    Iowa



    Katrina Wittkamp/Getty Images


    42. Alaska’s per capita GDP of $75,771 was the eighth-highest among the states and DC. The state tied for the ninth-highest GDP growth rate at 2.4%, but its unemployment rate of 6.0% was the highest rate in the country.

    Alaska



    davidgoldmanphoto/Getty Images


    41. Wisconsin’s unemployment rate of 3.5% was close to the national average of 3.6% in January 2020, but the state’s wage growth of 3.1% was lower than the US average of 3.7% from Q3 2018 to Q3 2019.

    Milwaukee Wisconsin



    MattGush/Getty Images


    40. Rhode Island’s unemployment rate of 3.4% was slightly less than the national average in January 2020, but the state’s average weekly wage of $957 in Q3 2019 and wage growth rate of 3.0% was less than the national average.

    Rhode Island




    Sean Pavone/Shutterstock



    39. Hawaii’s per capita GDP of $68,978 was the 13th-largest in the country, while the state had the second-lowest GDP growth at 0.4% and tied for the seventh-lowest unemployment rate at 2.7%.

    Maui Hawaii

    Maui, Hawaii

    Rosanna U/Getty Images


    38. Indiana’s GDP growth rate of 2.3% was slightly higher than the US average of 2.1% in Q3 2019. The state had the sixth-lowest job growth rate from January 2019 to January 2010 with a decline of 0.3%.

    South Bend Indiana




    Chuck W Walker/Shutterstock



    37. Pennsylvania’s GDP growth rate of 2.1% was the same as the US average in Q3 2019, while the state’s unemployment rate at 4.7% in January 2020 was the seventh-highest rate.

    Philadelphia Pennsylvania



    Allan Baxter/Getty Images


    36. Wyoming’s wage growth rate at 5.2% was the third-highest rate among the states and DC. The state also had the 14th-highest per capita GDP of $68,439, while it had the fifth-smallest job growth in the country from January 2019 to January 2020 with a decline of 0.4%.

    horses in Wyoming



    Westend61/Getty Images


    35. Arkansas’ wage growth rate of 4.0% was higher than the US average of 3.7% from Q3 2018 to Q3 2019. The state had the third-lowest per capita GDP of $44,410 and tied for third-lowest average weekly wage of $834.

    little rock arkansas



    Sean Pavone/Shutterstock


    34. Kansas’ unemployment rate of 3.1% was lower than the national average of 3.6% in January 2020, and its GDP growth rate of 2.2% was close to the national average of 2.1%.

    Kansas



    David DeHetre/Getty Images


    33. Alabama tied for the seventh-lowest unemployment rate at 2.7% and its wage growth from Q3 2018 to Q3 2019 of 3.8% was close to the national average of 3.7%, but the average weekly wage of $896 was lower than the national average of $1,086.

    Nick Saban and Alabama football



    Kevin C. Cox/Getty Images


    32. South Dakota’s average weekly wage of $856 in Q3 2019 was the sixth-lowest weekly wage among the states and DC, and the state’s GDP growth rate of 1.8% was slightly lower than the national average of 2.1%.

    mount rushmore south dakota



    Checubus/Shutterstock


    31. Illinois’ unemployment rate of 3.5% was close to the national average of 3.6% in January 2020, but the state’s job growth from January 2019 to January 2020 of 0.15% was the 10th-lowest rate among the states and DC.

    Chicago Illinois cloud gate



    Boogich/Getty Images


    30. Oregon’s job growth rate of 0.9% was higher than the national average of 0.8%, while its unemployment rate of 3.3% was slightly below the national average in January 2020.

    Portland Oregon

    Portland, Oregon.

    RyanJLane/Getty Images


    29. Vermont’s unemployment rate of 2.4% in January 2020 tied for the second-lowest unemployment rate. The state also had the third-lowest job growth rate from January 2019 to January 2020 with a decline of 0.4%, while the state’s wage growth of 4.6% from Q3 2018 to Q3 2019 was the eighth-highest rate among the states and DC.

    Vermont



    Sean Pavone/Shutterstock


    28. Missouri’s GDP growth of 2.4% in Q3 2019 was tied for the ninth-highest rate, and its wage growth of 4.2% from Q3 2018 to Q3 2019 was the 15th-highest rate among the states and DC.

    Missouri




    f11photo/Shutterstock



    27. Maryland’s per capita GDP of $71,189 and its average weekly wage of $1,112 was the 11th-highest weekly wage among the states and DC, but the state had the fifth-lowest GDP growth rate in Q3 2019 at 1.0%.

    Baltimore Maryland



    Cyndi Monaghan/Getty Images


    26. Maine’s wage growth of 4.3% from Q3 2018 to Q3 2019 was the 12th-highest rate in the country, while its unemployment rate of 3.1% was slightly less than the national average in January 2020. The state had the eighth-lowest average weekly wage in Q3 2019 of $875.

    Acadia national Park Maine



    Peter Unger/Getty Images


    25. Minnesota’s unemployment rate of 3.2% in January 2020 was slightly lower than the national average of 3.6%, and its per capita GDP of $67,929 was the 16th-largest per capita GDP among the states and DC.

    Minnesota Timberwolves centre Karl-Anthony Towns (32) drives past Toronto Raptors forward Rondae Hollis-Jefferson (4) during first half NBA basketball action in Toronto, Monday, Feb. 10, 2020. (Frank Gunn/The Canadian Press via AP)



    Associated Press


    24. North Carolina’s unemployment rate of 3.6% in January 2020 was close to the national average, and its wage growth from Q3 2018 to Q3 2019 of 3.9% was slightly higher than the national average of 3.7%.

    asheville north carolina

    Asheville, North Carolina.

    MilesbeforeIsleep / Shutterstock.com


    23. Tennessee’s GDP growth rate of 2.4% in Q3 2019 tied for ninth-highest rate, but the state had the seventh-lowest wage growth from Q3 2018 to Q3 2019 at 2.9%.

    Nashville Tennessee



    Scott Heaney/Shutterstock


    22. New York’s per capita GDP of $89,482 was the second-highest in the country, and the state had the fourth-highest average weekly wage of $1,317. The state’s job growth rate of 0.8% was also close to the average among the states and DC.

    Times Square New York



    Alexander Spatari/Getty Images


    21. Montana’s wage growth rate of 4.7% was the sixth-highest rate among the states and DC. The state’s unemployment rate of 3.5% was close to the US average of 3.6% in January 2020, while the state’s average weekly wage of $831 was the second-lowest.

    Montana



    DianeBentleyRaymond/Getty Images


    20. North Dakota’s unemployment rate of 2.3% was the lowest rate in January 2020 among the states and DC, while the state’s GDP growth rate of 1.1% in Q3 2019 was the sixth-lowest rate among the states and DC.

    North Dakota



    ZakZeinert/Shutterstock


    19. New Mexico’s wage growth rate of 5.3% was the second-highest rate among the states and DC. The state’s GDP growth rate of 2.6% in Q3 2019 was the sixth-highest rate, while its unemployment rate of 4.8% was the sixth-highest rate in January 2020.

    Los Alamos, New Mexico



    Mabry Campbell / Getty Images


    18. Connecticut’s per capita GDP of $80,655 was the fourth-highest per capita GDP among the states and DC, but the state’s wage growth of 2.8% was the sixth-lowest rate in the country.

    Hartford Connecticut



    Alexander Farnsworth/Getty Images


    17. Georgia tied for the 14th-highest GDP growth rate at 2.3% and its unemployment rate at 3.1% was slightly less than the national average in January 2020.

    Atlanta Georgia



    Sean Pavone/Shutterstock


    16. South Carolina’s unemployment rate of 2.4% was tied for the second-lowest rate in the country in January 2020. The state also had the eighth-highest job growth rate at 1.9%, but the state’s average weekly wage of $848 was the fifth-lowest among the states and DC.

    South Carolina




    f11photo/Shutterstock



    15. Nebraska had the ninth-highest wage growth from Q3 2018 to Q3 2019 at 4.3%, while the state also had the 12th-lowest average weekly wage at $895.

    Omaha Nebraska



    Shutterstock


    14. Nevada’s job growth rate of 1.6% from January 2019 to January 2020 was the 10th-highest rate, and its wage growth from Q3 2018 to Q3 2019 of 4.3% was the 11th-highest wage growth among the states and DC.

    las vegas



    Dennis Hohl / EyeEm / Getty Images


    13. New Jersey’s average weekly wage of $1,210 was the seventh-highest among the states and DC, and its per capita GDP of $73,066 was the 10th-highest per capita GDP. The state’s wage growth of 2.9% was the eighth-lowest rate in the country.

    Atlantic City New Jersey



    Aneese/Getty Images


    12. Florida’s job growth rate of 2.0% from January 2019 to January 2020 was the sixth-highest rate in the country, and its GDP growth rate of 2.4% was tied for the ninth-highest rate.

    Miami Florida

    Miami, Florida

    Walter Bibikow/Getty Images


    11. New Hampshire’s unemployment rate of 2.6% was the sixth-lowest unemployment rate in the country in January 2020, and its job growth rate of 0.8% was close to the average among the states and DC.

    New Hampshire




    Sean Pavone/Shutterstock



    10. Arizona’s job growth of 2.5% from January 2019 to January 2020 was the second-highest rate in the country. The state had the fifth-highest wage growth from Q3 2018 to Q3 2019 at 4.8%, while its unemployment rate of 4.5% was the eighth-highest rate among the states and DC.

    golf course arizona



    Brocreative/Shutterstock


    9. Virginia’s unemployment rate of 2.7% was the seventh-lowest rate among the states and DC, while its GDP growth rate of 1.6% was lower than the US average of 2.1%.

    Richmond Virginia



    Sky Noir Photography by Bill Dickinson/Getty Images


    8. Idaho’s job growth of 2.5% was the third-highest rate among the states and DC, and its wage growth of 4.6% was the seventh-highest rate. The state tied for third-smallest average weekly wage of $834 in Q3 2019.

    Boise Idaho



    Darwin Fan/Getty Images


    7. California’s per capita GDP of $79,854 and average weekly wage of $1,295 were the fifth-highest among the states and DC.

    los angeles



    Shutterstock


    6. Massachusetts’ average weekly wage of $1,369 was the second-highest and per capita GDP of $86,919 was the third-highest among the states and DC in Q3 2019.

    Boston Massachusetts



    Travelpix Ltd/Getty Images


    5. Washington’s GDP growth in Q3 2019 of 3.1% and average weekly wage of $1,338 were the third-highest rate in the country, but the state’s unemployment rate of 3.9% was higher than the US average in January 2020.

    Seattle




    Shutterstock/emperorcosar



    4. Texas had the highest GDP growth rate in Q3 2019 at 4.0%, and its job growth rate of 2.2% was the fourth-highest among the states and DC. Its unemployment rate of 3.5% was close to January’s national average.

    Texas



    Xinhua News Agency / Contributor/Getty Images


    3. Utah’s job growth of 2.9% from January 2019 to January 2020 was the highest in the country. The state’s GDP growth in Q3 2019 of 3.2% was the second-highest, and the state’s wage growth from Q3 2018 to Q3 2019 of 5.1% was the fourth-highest rate in the country.

    Zion National Park Utah



    James O’Neil/Getty Images


    2. DC had the largest per capita GDP of $208,284 and the highest average weekly wage of $1,669, but the state’s unemployment rate of 5.2% was the fourth-highest in the country.

    Washington DC.



    Mark Wilson / Getty Images


    1. Colorado’s wage growth of 6.4% from Q3 2018 to Q3 2019 was the highest among the states and DC, and the state tied for the fourth-lowest unemployment rate at 2.4% and tied for sixth-highest GDP growth at 2.6%.

    Colorado



    Blaine Harrington III/Getty Images


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