Report gives New Hampshire’s economy high ranking

By Christian Wade | The Center Square

New Hampshire boasts one of the strongest performing economies in the nation, according to a new report from the personal finance website WalletHub.

Monday’s release of its 2022’s States with the Best & Worst State Economies sought to determine which states are pulling the most weight amid the economic uncertainties caused by the COVID-19 pandemic.

The analysis used 28 metrics to compare the performance and strength of economies in the 50 states and the District of Columbia – using indicators ranging from GDP growth to startup activity to the share of jobs in high-tech industries.

The Granite State was ranked fifth among the 50 states and D.C. on the overall strength of the economy and fourth on the innovation potential.

In the economic activity category, New Hampshire was ranked 18th in the nation, while it placed 13th for economic health, according to the analysis.

Overall, New Hampshire got high marks for its low employment, a strong GDP rate and the availability of jobs in the high-tech sector.

Washington has the top ranking for overall economic strength, followed by Utah, California and Massachusetts, according to WalletHub’s analysis.

The analysis pointed out that 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,” the report’s authors wrote. “Meanwhile, Vermont’s GDP is around 91 times smaller, at $36.7 billion compared to California’s $3.4 trillion.”

Image courtesy of Wikimedia Commons