Wisconsin did not perform well in the latest rankings of the best and worst economies in the U.S., released by WalletHub. Out of all 50 states and the District of Columbia, Wisconsin was ranked at No. 40 out of 51 for its overall economy.
The study took into account several factors to determine each state’s ranking, including economic activity, economic health, and innovation potential. In terms of economic activity, Wisconsin came in last among all states, while its economic health was ranked at 31st. Innovation potential was ranked at 21st.
To calculate economic activity, a range of factors were considered, such as a state’s change in GDP, share of fast-growing firms, startup activity, and exports per capita. Economic health was determined based on 14 different factors, including the unemployment rate and median annual household income adjusted for cost of living. Innovation potential was measured by looking at a state’s share of jobs in high-tech industries and STEM employment.
Specifically, Wisconsin had the second-lowest change in GDP compared to other states, with only Delaware ranked lower. Additionally, the state had the second-least startup activity among all states, with West Virginia just behind it. The study was published on June 3rd
