10 states with the fastest, slowest growing economies

Are you considering migrating to another state this year? 24/7 Wall Street recently compiled a list of 10 of the fastest and 10 of the slowest growing economies in the United States today. The former suggests if your state has plenty of farmland and oil you’ll rake in the dough, the ladder shows if you don’t have the aforementioned then you’re doomed… for now.

Here are the 10 states with the fastest growing economies:

10. Nebraska
> GDP growth: 3.0%
> 2013 GDP: $109.6 billion (16th lowest)
> 1-yr. population change: 0.7% (25th highest)
> 2013 unemployment: 3.9% (3rd lowest)

9. South Dakota
> GDP growth: 3.1%
> 2013 GDP: $46.7 billion (4th lowest)
> 1-yr. population change: 1.3% (6th highest)
> 2013 unemployment: 3.8% (2nd lowest)

8. Texas
> GDP growth: 3.7%
> 2013 GDP: $1.5 trillion (2nd highest)
> 1-yr. population change: 1.5% (4th highest)
> 2013 unemployment: 6.3% (17th lowest)

7. Utah
> GDP growth: 3.8%
> 2013 GDP: $141.2 billion (19th lowest)
> 1-yr. population change: 1.6% (2nd highest)
> 2013 unemployment: 4.4% (4th lowest)

6. Colorado
> GDP growth: 3.8%
> 2013 GDP: $294.4 billion (18th highest)
> 1-yr. population change: 1.5% (3rd highest)
> 2013 unemployment: 6.8% (25th highest)

5. Idaho
> GDP growth: 4.1%
> 2013 GDP: $62.2 billion (9th lowest)
> 1-yr. population change: 1.0% (12th highest)
> 2013 unemployment: 6.2% (15th lowest)

4. Oklahoma
> GDP growth: 4.2%
> 2013 GDP: $182.1 billion (22nd lowest)
> 1-yr. population change: 0.9% (17th highest)
> 2013 unemployment: 5.4% (11th lowest)

3. West Virginia
> GDP growth: 5.1%
> 2013 GDP: $74.0 billion (12th lowest)
> 1-yr. population change: -0.1% (the lowest)
> 2013 unemployment: 6.5% (18th lowest)

2. Wyoming
> GDP growth: 7.6%
> 2013 GDP: $45.4 billion (2nd lowest)
> 1-yr. population change: 1.0% (11th highest)
> 2013 unemployment: 4.6% (6th lowest)

1. North Dakota
> GDP growth: 9.7%
> 2013 GDP: $56.3 billion (5th lowest)
> 1-yr. population change: 3.1% (the highest)
> 2013 unemployment: 2.9% (the lowest)

Here are the 10 states with the slowest growing economies:

10. Maine
> GDP growth: 0.9%
> 2013 GDP: $54.8 billion (6th lowest)
> 1-yr. population change: -0.01% (2nd lowest)
> 2013 unemployment: 6.7% (23rd lowest)

9. Illinois
> GDP growth: 0.9%
> 2013 GDP: $720.7 billion (5th highest)
> 1-yr. population change: 0.11% (6th lowest)
> 2013 unemployment: 9.2% (3rd highest)

8. Alabama
> GDP growth: 0.8%
> 2013 GDP: $193.6 billion (25th lowest)
> 1-yr. population change: 0.34% (17th lowest)
> 2013 unemployment: 6.5% (tied-18th lowest)

7. Tennessee
> GDP growth: 0.8%
> 2013 GDP: $287.6 (19th highest)
> 1-yr. population change: 0.63% (24th lowest)
> 2013 unemployment: 8.2% (8th highest)

6. Missouri
> GDP growth: 0.8%
> 2013 GDP: $276.3 billion (22nd highest)
> 1-yr. population change: 0.33% (16th lowest)
> 2013 unemployment: 6.5% (tied-18th lowest)

5. New York
> GDP growth: 0.7%
> 2013 GDP: $1.3 trillion (3rd highest)
> 1-yr. population change: 0.38% (20th lowest)
> 2013 unemployment: 7.7% (14th highest)

4. Pennsylvania
> GDP growth: 0.7%
> 2013 GDP: $644.9 billion (6th highest)
> 1-yr. population change: 0.07% (3rd lowest)
> 2013 unemployment: 7.4% (19th highest)

3. Virginia
> GDP growth: 0.1%
> 2013 GDP: $452.6 billion (11th highest)
> 1-yr. population change: 0.89% (18th highest)
> 2013 unemployment: 5.5% (13th lowest)

2. Maryland
> GDP growth: 0.0%
> 2013 GDP: $342.4 billion (15th highest)
> 1-yr. population change: 0.74% (23rd highest)
> 2013 unemployment: 6.6% (22nd lowest)

1. Alaska
> GDP growth: -2.5%
> 2013 GDP: $59.4 billion (8th lowest)
> 1-yr. population change: 0.66% (25th lowest)
> 2013 unemployment: 6.5% (tied-18th lowest)

Like this article? Get ECN delivered to your inbox daily. Subscribe here.

Leave a Comment