Personal-finance website WalletHub today released its report on 2022’s Best & Worst State Economies, with Maryland ranking as the 16th best economic performer. In order to determine America’s top economic performers, WalletHub compared the 50 states and the District of Columbia across 28 key indicators of economic performance and strength. The data set ranges from change in GDP to startup activity to the share of jobs in high-tech industries.
Per the article, “U.S. economic growth depends heavily on the performance of individual states, but some contribute more than others. California, for instance, is the fifth largest economy in the world, boasting a GDP larger than that of countries like the U.K., France and India. Meanwhile, Vermont’s GDP is around 91 times smaller, at $36.7 billion compared to California’s $3.4 trillion.”
In order to determine which states are pulling the most weight even during this time of economic difficulty caused by the COVID-19 pandemic, WalletHub compared the 50 states and the District of Columbia across 28 key indicators of economic performance and strength. The data set ranges from GDP growth to startup activity to the share of jobs in high-tech industries.
Maryland came in at 25th in the Economic Activity, 36th Economic Health, and 6th in the Innovation Potential category, giving them a 16th ranking overall. To view the full report and your state or the District’s rank, please visit:
https://wallethub.com/edu/states-with-the-best-economies/21697