Worst State Economies: How Virginia Ranks

VIRGINIA — It's no secret northern Virginia is in the hunt for a second Amazon headquarters and the region has been a hub of well-paying private sector jobs tied to the government, as well as technology and investment startups. Now, a new study from consumer finance site WalletHub ranks Virginia at No. 19, well into the top half of its list of 2018 best and worst state economies.

"In order to determine which states are pulling the most weight, WalletHub compared the 50 states and the District of Columbia across 28 key indicators of economic performance and strength," the study notes. "Our data set ranges from GDP growth to startup activity to share of jobs in high-tech industries."

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The study notes that some states contribute more than others to the country's economic growth. For example, California — No. 4 on the list — boasts a GDP larger than countries including the U.K., France and India.

Virginia, coming in at No. 19, earned an economic activity rank of 15, an economic health rate of 10, and an innovation potential rank of 36.

The state with the worst economy? Louisiana, coming in at No. 51 behind the rest of the states and Washington, D.C.

Washington state had the highest GDP growth, while Hawaii had the lowest unemployment rate.

These states ranked as having the top five best economies:

1. Washington
2. Utah
3. Massachusetts
4. California
5. Colorado

These were the bottom five:

1. Louisiana
2. Mississippi
3. Alaska
4. West Virginia
5. Arkansas

Read the full rankings on WalletHub.

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