North Carolina Now Has The 7th Best State Economy in America

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Charlotte Stories
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With California on track to overtake Germany as the world’s fourth largest economy, the personal-finance website WalletHub today released its report on 2023’s Best & Worst State Economies.

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.

North Carolina was ranked 7th overall and South Carolina came in at #33.

Economic Performance of North Carolina (1=Best; 25=Avg.):

  • 6th – Change in GDP
  • 17th – Startup Activity
  • 9th – % of Jobs in High-Tech Industries
  • 29th – Annual Median Household Income
  • 11th – Change in Nonfarm Payrolls
  • 3rd – Government Surplus/Deficit per Capita
  • 28th – Unemployment Rate

State Economy Rankings

Overall Rank  State Total Score  Economic Activity  Economic Health  Innovation Potential 
1 Washington 68.13 2 14 2
2 Utah 65.04 1 1 10
3 Massachusetts 64.89 13 36 1
4 Colorado 62.89 4 7 6
5 California 61.04 8 42 3
6 Idaho 58.92 14 2 14
7 North Carolina 58.17 16 4 11
8 District of Columbia 56.60 3 19 13
9 Texas 55.94 10 6 23
10 Arizona 55.40 11 11 20
11 Georgia 54.30 7 12 25
12 Oregon 54.05 17 35 7
13 Florida 53.60 15 3 32
14 Delaware 52.90 12 25 18
15 Tennessee 51.83 6 9 37
16 Virginia 49.76 20 8 24
17 New Jersey 49.44 18 38 12
18 New York 49.35 9 45 21
19 Maryland 47.63 32 39 4
20 Michigan 47.56 26 37 8
21 Nevada 47.49 5 23 44
22 Minnesota 47.35 24 17 16
23 New Hampshire 46.64 44 16 5
24 Connecticut 46.23 36 32 9
25 Montana 44.45 23 10 34
26 Wisconsin 43.73 33 26 17
27 Indiana 43.17 28 18 28
28 Pennsylvania 42.53 29 40 19
29 Kansas 42.32 25 24 31
30 Vermont 42.25 34 30 22
31 Alabama 42.03 22 20 35
32 Illinois 41.94 19 49 26
33 South Carolina 41.21 21 21 40
34 Missouri 40.18 37 27 29
35 Nebraska 40.17 35 13 36
36 New Mexico 38.07 40 48 15
37 Ohio 37.59 30 46 33
38 Rhode Island 36.87 42 33 30
39 Iowa 36.76 45 29 27
40 Wyoming 36.74 39 22 38
41 Arkansas 35.49 31 28 47
42 Maine 35.36 38 31 43
43 South Dakota 35.29 43 5 50
44 North Dakota 35.25 47 15 42
45 Kentucky 34.17 27 43 46
46 Oklahoma 31.89 49 34 39
47 Hawaii 28.76 46 41 48
48 Mississippi 28.67 41 50 45
49 Alaska 28.48 51 44 41
50 Louisiana 25.04 50 51 49
51 West Virginia 24.12 48 47 51

 

For the full report, you can check out their website here.

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