How Idaho’s Economy Compares to the Rest of the United States

The economy has been one of the worst in history since the pandemic and many states in the United States are still adapting, while others are beginning to bounce back a little. Each state brings its own economy and some states are much better than others when it comes to finding success. Many things can lead to the success and failure of an economy. What states have the best and which states are struggling more than most?

The Best and Worst Economies By State

When it comes to ranking states by economies, there are three things to take into consideration. The categories that were used to rank them were economic activity, economic health, and innovation potential. By these standards, according to a list released by WalletHub, Washington is the state with the best economy, followed by Utah at two, and California rounding out the top three. California was number one in economic activity, with Utah being number one in economic health and Massachusetts number one in innovation potential. The worst state economy belonged to West Virginia, just ahead of Alaska and Louisiana as the bottom three.

How is Idaho's Economy?

Idaho missed the top ten but did come in at 13 on the list. Idaho is second in the country in economic health, only behind Utah. The worst category for Idaho was economic activity, where they ranked 22. One thing that stuck out about Idaho is it ranked fourth of all the states in startup activity. With many people moving to Idaho over the last couple of years and plenty of new businesses opening here, it makes sense that startup activity would be so high. The economy in Idaho is also doing well because many corporations and bigger chains are finally expanding into Idaho.

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While the economy may not be back to where it was yet, you can take pride in knowing that Idaho is doing better than most of the states in the country. As long as businesses continue to see Idaho as a growing state, the economy will continue to do well, and hopefully next year, Idaho may crack the top ten. To check out the full list by making sure to click the link in the paragraph above.