In a recent study, Arizona’s overall economy received a No. 11 rank nationally after high GDP growth and increase in nonfarm payrolls.
Arizona ranked fourth nationally in both GDP growth and nonfarm payrolls, two of the many indicators the survey by WallerHub.com took into consideration.
“We looked at around 30 different indicators of economic performance from state-to-state,” said WalletHub spokesperson Jill Gonzalez. “So that ranges from GDP growth to start-up activity to share of jobs in high-tech industry, and Arizona did pretty well.”
Then, thirty indicators were combined to form three categories – economic activity, economic health and innovation potential. Among the categories, Arizona ranked No. 12, 10 and 14, respectively.
In order, Washington, Utah and Massachusetts were the top-three ranked states. Washington ranked No. 1 in economic activity, Utah ranked No. 1 in economic health and Massachusetts ranked No. 1 in innovation potential.
The bottom five economies on the list were West Virginia, Hawaii, Mississippi, Louisiana and Alaska.