Study: Mississippi has the worst state economy

Study: Mississippi has the worst state economy

MISSISSIPPI (WDAM) - The Magnolia State has the worst state economy, according to a 2016 WalletHub study on U.S. states with the best and worst economies.

Thanks to job gains, lower oil prices and increased consumer spending, 2015 was a banner year for America's economy.

But the study's results showed wide disparities in growth from state to state, and Mississippi's economy was a bust ranking 51st for 2015.

To determine the state economic rankings, WalletHub's analysts compared the states using factors including economic activity, innovation potential and economic health.

Here are Mississippi's key rankings from the study:

  • 50th – GDP Growth
  • 35th – Percent of Fast-Growing Firms
  • 28th – Exports per Capita
  • 45th – Business Startup Activity
  • 41st – Percent of Jobs in High-Tech Industries
  • 51st – Annual Median Household Income
  • 37th – Nonfarm Payrolls Change
  • 43rd – Immigration of U.S. Knowledge Workers
  • 26th – State-Government Surplus/Deficit per Capita
  • 47th – Unemployment Rate

Other states that ranked high for the worst economies included Arkansas, West Virginia, Maine, New Mexico and Louisiana. Cities with a thriving economy for 2015 were Utah, Washington, California, Massachusetts and Colorado.