States Whose Economies Are Failing vs. States Whose Economies Are Thriving

John Csiszar
The young couple carries shopping bags and walks through the mall, wearing protective masks, life in a time of pandemic.
The young couple carries shopping bags and walks through the mall, wearing protective masks, life in a time of pandemic.

The swiftness with which the coronavirus pandemic wiped out the U.S. economy in early 2020 was breathtaking. Seemingly overnight, the U.S. unemployment rate shot up to an all-time record of 14.7% in April 2020. Both the overall rate of 14.7% and the 10.3% jump from the prior month were the highest on record since the Bureau of Labor Statistics began keeping statistics in January 1948. Since then, the economy as a whole has been steadily improving, both in terms of the unemployment rate and year-over-year GDP. However, as the U.S. is such a large country, with a wide diversity of states and economies, the recovery has thus far been uneven. Some states have already come back nearly all the way to normal levels, while others have been stuck behind.

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To determine which economies are thriving and which are failing, GOBankingRates took a look at a variety of economic factors, from year-over-year GDP and unemployment rates to wage changes and the percentage of a state’s population that is living in poverty. States were divided into the top 15 and the bottom 15 and ranked in reverse order. Thus, the state in the worst current economic shape appears as No. 1 at the end of the “failing economies” section, while the only state in the nation thus far that shows a year-over-year percentage gain in employment appears as No. 1 under the “thriving economies” section.

Read on to find out which states are at the bottom and the top of this split recovery.

Last updated: April 12, 2021

Young brunette curly female reading her bill papers, looking stressed.
Young brunette curly female reading her bill papers, looking stressed.

States Whose Economies Are Failing

These states have not yet been pulled up by the slow recovery in the American economy to the extent that some others have. Although overall unemployment trends are improving, residents of these states are still having trouble finding jobs and contributing to the state’s GDP.

See: How Do We Track Unemployment and Joblessness?

Hot Springs, Arkansas, USA town skyline in the mountains.
Hot Springs, Arkansas, USA town skyline in the mountains.

15. Arkansas

  • Feb. 2021 unemployment rate: 4.5%

  • Year-over-year change in unemployment Feb. 2021: -2.8%

  • Q4 2020 GDP per capita: $44,328

  • GDP growth Q3 2020-Q4 2020: 5.1%

  • Average weekly wages Sept. 2020: $892

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 6.1%

  • Percent of population below poverty line 2019: 16.2%

Find Out: What the Unemployment Rate Means for You and the Economy

Newport, Rhode Island.
Newport, Rhode Island.

14. Rhode Island

  • Feb. 2021 unemployment rate: 7.3%

  • Year-over-year change in unemployment Feb. 2021: -8.7%

  • Q4 2020 GDP per capita: $58,245

  • GDP growth Q3 2020-Q4 2020: 2.6%

  • Average weekly wages Sept. 2020: $1,092

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 10.4%

  • Percent of population below poverty line 2019: 10.8%

More: How To Be ‘Financially Resilient’ — Even in Times of Crisis

St Johns Bridge over the Willamette River in Portland, Oregon with Mt St Helens and Mt Adams in the background.
St Johns Bridge over the Willamette River in Portland, Oregon with Mt St Helens and Mt Adams in the background.

13. Oregon

  • Feb. 2021 unemployment rate: 6.1%

  • Year-over-year change in unemployment Feb. 2021: -7.8%

  • Q4 2020 GDP per capita: $62,109

  • GDP growth Q3 2020-Q4 2020: 2.7%

  • Average weekly wages Sept. 2020: $1,113

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 7.4%

  • Percent of population below poverty line 2019: 11.4%

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Chicago cityscape looking out over the rush hour traffic commute of the highway in Illinois USA.
Chicago cityscape looking out over the rush hour traffic commute of the highway in Illinois USA.

12. Illinois

  • Feb. 2021 unemployment rate: 7.4%

  • Year-over-year change in unemployment Feb. 2021: -7.5%

  • Q4 2020 GDP per capita: $69,422

  • GDP growth Q3 2020-Q4 2020: 3.5%

  • Average weekly wages Sept. 2020: $1,199

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 6.8%

  • Percent of population below poverty line 2019: 11.5%

See: Will There Be a Fourth Stimulus Check? How Much Will It Be? All Your Questions Answered

Strip District, Pittsburgh, Pennsylvania, USA.
Strip District, Pittsburgh, Pennsylvania, USA.

11. Pennsylvania

  • Feb. 2021 unemployment rate: 7.3%

  • Year-over-year change in unemployment Feb. 2021: -7.2%

  • Q4 2020 GDP per capita: $62,497

  • GDP growth Q3 2020-Q4 2020: 3.7%

  • Average weekly wages Sept. 2020: $1,139

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 7.0%

  • Percent of population below poverty line 2019: 12.0%

Find Out: IRS Delayed Refunds Last Year for Millions of Taxpayers — Here’s How To Get Yours Faster

Grand Rapids, Michigan, USA downtown skyline on the Grand River at dusk.
Grand Rapids, Michigan, USA downtown skyline on the Grand River at dusk.

10. Michigan

  • Feb. 2021 unemployment rate: 5.2%

  • Year-over-year change in unemployment Feb. 2021: -7.5%

  • Q4 2020 GDP per capita: $53,008

  • GDP growth Q3 2020-Q4 2020: 1.7%

  • Average weekly wages Sept. 2020: $1,096

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 7.5%

  • Percent of population below poverty line 2019: 13.0%

More: What It’s Like To Job Hunt During a Pandemic

Cheyenne, Wyoming, USA - July 21, 2013: People on a horse drawn carriage in downtown Cheyenne.
Cheyenne, Wyoming, USA - July 21, 2013: People on a horse drawn carriage in downtown Cheyenne.

9. Wyoming

  • Feb. 2021 unemployment rate: 5.3%

  • Year-over-year change in unemployment Feb. 2021: -5.2%

  • Q4 2020 GDP per capita: $63,772

  • GDP growth Q3 2020-Q4 2020: 3.8%

  • Average weekly wages Sept. 2020: $939

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: -0.4%

  • Percent of population below poverty line 2019: 10.1%

Check Out: 6 Career Mistakes To Avoid During an Economic Downturn

The Louisville, Kentucky skyline with pedestrian walkway in front.
The Louisville, Kentucky skyline with pedestrian walkway in front.

8. Kentucky

  • Feb. 2021 unemployment rate: 5.2%

  • Year-over-year change in unemployment Feb. 2021: -5.1%

  • Q4 2020 GDP per capita: $48,655

  • GDP growth Q3 2020-Q4 2020: 4.3%

  • Average weekly wages Sept. 2020: $935

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 5.8%

  • Percent of population below poverty line 2019: 16.3%

Read: 24 Ways To Stretch Your Unemployment Benefits

Las Vegas, MAR 23, 2020 - Dusk special lockdown cityscape of the famous Strip.
Las Vegas, MAR 23, 2020 - Dusk special lockdown cityscape of the famous Strip.

7. Nevada

  • Feb. 2021 unemployment rate: 8.3%

  • Year-over-year change in unemployment Feb. 2021: -10.6%

  • Q4 2020 GDP per capita: $60,028

  • GDP growth Q3 2020-Q4 2020: 4.2%

  • Average weekly wages Sept. 2020: $1,048

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 7.8%

  • Percent of population below poverty line 2019: 12.5%

See: Already Struggling With Your 2021 Money Resolutions? How To Stay On Track

New Oklahoma City Park downtown.
New Oklahoma City Park downtown.

6. Oklahoma

  • Feb. 2021 unemployment rate: 4.4%

  • Year-over-year change in unemployment Feb. 2021: -5.4%

  • Q4 2020 GDP per capita: $48,508

  • GDP growth Q3 2020-Q4 2020: 3.5%

  • Average weekly wages Sept. 2020: $917

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 2.3%

  • Percent of population below poverty line 2019: 15.2%

Related: Things To Cut Out Right Now To Save Money During the Health Crisis

Lahaina Harbor on a beautiful day on the island of Maui, Hawaii.
Lahaina Harbor on a beautiful day on the island of Maui, Hawaii.

5. Hawaii

  • Feb. 2021 unemployment rate: 9.2%

  • Year-over-year change in unemployment Feb. 2021: -17.8%

  • Q4 2020 GDP per capita: $63,826

  • GDP growth Q3 2020-Q4 2020: 2.1%

  • Average weekly wages Sept. 2020: $1,114

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 10.3%

  • Percent of population below poverty line 2019: 9.3%

More: What Is the GDP – and What Does It Have to Do With You?

Mississippi River bridge, at Vicksburg, MS.
Mississippi River bridge, at Vicksburg, MS.

4. Mississippi

  • Feb. 2021 unemployment rate: 6.3%

  • Year-over-year change in unemployment Feb. 2021: -4.0%

  • Q4 2020 GDP per capita: $39,580

  • GDP growth Q3 2020-Q4 2020: 5.6%

  • Average weekly wages Sept. 2020: $810

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 5.6%

  • Percent of population below poverty line 2019: 19.6%

Read: What Is Inflation and What Does It Mean When It Goes Up or Down?

Charleston, West Virginia, USA skyline on the Kanawha River at dusk.
Charleston, West Virginia, USA skyline on the Kanawha River at dusk.

3. West Virginia

  • Feb. 2021 unemployment rate: 6.2%

  • Year-over-year change in unemployment Feb. 2021: -5.5%

  • Q4 2020 GDP per capita: $41,798

  • GDP growth Q3 2020-Q4 2020: 3.4%

  • Average weekly wages Sept. 2020: $913

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 1.8%

  • Percent of population below poverty line 2019: 16.0%

See: 16 Money Rules That Millionaires Swear By

Bossier City, LA, USA- May 23, 2016: The downtown skyline of Shreveport, Louisiana as viewed from the Louisiana Boardwalk in Bossier City.
Bossier City, LA, USA- May 23, 2016: The downtown skyline of Shreveport, Louisiana as viewed from the Louisiana Boardwalk in Bossier City.

2. Louisiana

  • Feb. 2021 unemployment rate: 7.6%

  • Year-over-year change in unemployment Feb. 2021: -7.8%

  • Q4 2020 GDP per capita: $53,229

  • GDP growth Q3 2020-Q4 2020: 3.0%

  • Average weekly wages Sept. 2020: $970

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 5.2%

  • Percent of population below poverty line 2019: 19.0%

Find Out: 10 States With the Most Millionaires

Santa Fe, New Mexico, USA downtown skyline at dusk.
Santa Fe, New Mexico, USA downtown skyline at dusk.

1. New Mexico

  • Feb. 2021 unemployment rate: 8.3%

  • Year-over-year change in unemployment Feb. 2021: -8.9%

  • Q4 2020 GDP per capita: $49,050

  • GDP growth Q3 2020-Q4 2020: 2.5%

  • Average weekly wages Sept. 2020: $944

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 5.1%

  • Percent of population below poverty line 2019: 18.2%

More: What You Actually Take Home From a $200,000 Salary in Every State

Portrait of female worker driving forklift in warehouse.
Portrait of female worker driving forklift in warehouse.

States Whose Economies Are Thriving

If you live in one of these states, consider yourself lucky. Unemployment and GDP levels are recovering nicely in these areas. Here’s a look at the 15 states helping to lead America as a whole back to a full recovery.

Further Reading: Experts on What the Economy Will Be Like Post-Recovery

WICHITA, KANSAS - AUGUS 30, 2018: The confluence of the Arkansas and Little Arkansas River at the Keeper of the Plains near downtown Wichita.
WICHITA, KANSAS - AUGUS 30, 2018: The confluence of the Arkansas and Little Arkansas River at the Keeper of the Plains near downtown Wichita.

15. Kansas

  • Feb. 2021 unemployment rate: 3.2%

  • Year-over-year change in unemployment Feb. 2021: -4.9%

  • Q4 2020 GDP per capita: $61,274

  • GDP growth Q3 2020-Q4 2020: 4.0%

  • Average weekly wages Sept. 2020: $952

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 6.6%

  • Percent of population below poverty line 2019: 11.4%

Read: How To Recover After a Long Stretch of Bad Financial Luck

Skyline of downtown Hartford, Connecticut from Founders Bridge.
Skyline of downtown Hartford, Connecticut from Founders Bridge.

14. Connecticut

  • Feb. 2021 unemployment rate: 8.5%

  • Year-over-year change in unemployment Feb. 2021: -7.2%

  • Q4 2020 GDP per capita: $80,816

  • GDP growth Q3 2020-Q4 2020: 7.0%

  • Average weekly wages Sept. 2020: $1,328

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 7.4%

  • Percent of population below poverty line 2019: 10.0%

See: The 50 Cities Best Prepared To Reignite Their Economy and Job Market

State Capitol Building of Delaware.
State Capitol Building of Delaware.

13. Delaware

  • Feb. 2021 unemployment rate: 6.3%

  • Year-over-year change in unemployment Feb. 2021: -5.2%

  • Q4 2020 GDP per capita: $81,158

  • GDP growth Q3 2020-Q4 2020: 5.8%

  • Average weekly wages Sept. 2020: $1,150

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 6.8%

  • Percent of population below poverty line 2019: 11.3%

Check Out: Where Our Economy Is One Year After Life Changed, According to Experts

Richmond, VA, USA April 4, 2006 Two adult men walk past the historic homes on Monument Avenue in Richmond, Virginia.
Richmond, VA, USA April 4, 2006 Two adult men walk past the historic homes on Monument Avenue in Richmond, Virginia.

12. Virginia

  • Feb. 2021 unemployment rate: 5.2%

  • Year-over-year change in unemployment Feb. 2021: -4.8%

  • Q4 2020 GDP per capita: $66,997

  • GDP growth Q3 2020-Q4 2020: 4.7%

  • Average weekly wages Sept. 2020: $1,201

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 6.4%

  • Percent of population below poverty line 2019: 9.9%

More: US Companies Added Most Jobs Since September Last Month

Des Moines, Iowa skyline from the state capital at sunset.
Des Moines, Iowa skyline from the state capital at sunset.

11. Iowa

  • Feb. 2021 unemployment rate: 3.6%

  • Year-over-year change in unemployment Feb. 2021: -5.1%

  • Q4 2020 GDP per capita: $63,688

  • GDP growth Q3 2020-Q4 2020: 6.3%

  • Average weekly wages Sept. 2020: $969

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 6.0%

  • Percent of population below poverty line 2019: 11.2%

Discover: 10 Stocks That We Expect To Return To Normal This Year

View on downtown of Baltimore at night.
View on downtown of Baltimore at night.

10. Maryland

  • Feb. 2021 unemployment rate: 6.2%

  • Year-over-year change in unemployment Feb. 2021: -6.0%

  • Q4 2020 GDP per capita: $71,926

  • GDP growth Q3 2020-Q4 2020: 3.6%

  • Average weekly wages Sept. 2020: $1,277

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 9.5%

  • Percent of population below poverty line 2019: 9.0%

Read: 24% of Unemployed Americans Haven’t Worked in a Year

A view of downtown St.
A view of downtown St.

9. Minnesota

  • Feb. 2021 unemployment rate: 4.3%

  • Year-over-year change in unemployment Feb. 2021: -7.0%

  • Q4 2020 GDP per capita: $69,290

  • GDP growth Q3 2020-Q4 2020: 4.7%

  • Average weekly wages Sept. 2020: $1,178

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 6.4%

  • Percent of population below poverty line 2019: 9.0%

See: Don’t Let the Pandemic Keep You from Your Tax Refund – Here’s How to File Fast (and Free)

Washington Monument on the Reflecting Pool in Washington, D.
Washington Monument on the Reflecting Pool in Washington, D.

8. District of Columbia

  • Feb. 2021 unemployment rate: 8.1%

  • Year-over-year change in unemployment Feb. 2021: -8.9%

  • Q4 2020 GDP per capita: $210,453

  • GDP growth Q3 2020-Q4 2020: 1.2%

  • Average weekly wages Sept. 2020: $1,962

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 6.1%

  • Percent of population below poverty line 2019: 13.5%

Depressed: 30 Places in America That Are Getting Poorer

Downtown Boise Idaho.
Downtown Boise Idaho.

7. Idaho

  • Feb. 2021 unemployment rate: 3.3%

  • Year-over-year change in unemployment Feb. 2021: 1.0%

  • Q4 2020 GDP per capita: $50,856

  • GDP growth Q3 2020-Q4 2020: 5.4%

  • Average weekly wages Sept. 2020: $884

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 5.5%

  • Percent of population below poverty line 2019: 11.2%

More: What Homes Will Be Worth in Your State by the End of 2021

Boston, Massachusetts, at the USA Old State House and cityscape at dawn.
Boston, Massachusetts, at the USA Old State House and cityscape at dawn.

6. Massachusetts

  • Feb. 2021 unemployment rate: 7.1%

  • Year-over-year change in unemployment Feb. 2021: -8.7%

  • Q4 2020 GDP per capita: $87,374

  • GDP growth Q3 2020-Q4 2020: 4.7%

  • Average weekly wages Sept. 2020: $1,488

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 9.7%

  • Percent of population below poverty line 2019: 9.4%

Read: How Long $1 Million in Savings Will Last in Every State

Spokane, Washington, FHA, insurance, real estate, homebuyers, foreclosure, single-family, home median price, mortgage, down payment
Spokane, Washington, FHA, insurance, real estate, homebuyers, foreclosure, single-family, home median price, mortgage, down payment

5. Washington

  • Feb. 2021 unemployment rate: 5.6%

  • Year-over-year change in unemployment Feb. 2021: -6.0%

  • Q4 2020 GDP per capita: $86,167

  • GDP growth Q3 2020-Q4 2020: 1.8%

  • Average weekly wages Sept. 2020: $1,482

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 11.0%

  • Percent of population below poverty line 2019: 9.8%

See: The Most Undervalued Stocks So Far in 2021

Omaha is the largest city in the state of Nebraska.
Omaha is the largest city in the state of Nebraska.

4. Nebraska

  • Feb. 2021 unemployment rate: 3.1%

  • Year-over-year change in unemployment Feb. 2021: -2.9%

  • Q4 2020 GDP per capita: $69,500

  • GDP growth Q3 2020-Q4 2020: 6.3%

  • Average weekly wages Sept. 2020: $964

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 6.4%

  • Percent of population below poverty line 2019: 9.9%

Check Out: By the Numbers: The COVID-19 Economy 1 Year Later

Rochester is a city in Strafford County, New Hampshire, United States.
Rochester is a city in Strafford County, New Hampshire, United States.

3. New Hampshire

  • Feb. 2021 unemployment rate: 3.3%

  • Year-over-year change in unemployment Feb. 2021: -5.4%

  • Q4 2020 GDP per capita: $64,757

  • GDP growth Q3 2020-Q4 2020: 3.8%

  • Average weekly wages Sept. 2020: $1,171

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 8.9%

  • Percent of population below poverty line 2019: 7.3%

More: How Biden’s Plan To End Coronavirus Is Impacting the Economy (So Far)

Rapid City, South Dakota, USA - October 06, 2018: street scene of downtown Rapid City with buildings and businesses.
Rapid City, South Dakota, USA - October 06, 2018: street scene of downtown Rapid City with buildings and businesses.

2. South Dakota

  • Feb. 2021 unemployment rate: 2.9%

  • Year-over-year change in unemployment Feb. 2021: -2.5%

  • Q4 2020 GDP per capita: $65,632

  • GDP growth Q3 2020-Q4 2020: 9.9%

  • Average weekly wages Sept. 2020: $918

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 7.2%

  • Percent of population below poverty line 2019: 11.9%

Read: How To Rebound From a Bad Financial Year in 2020

Park City, Utah, USA town skyline over Main Street at twilight.
Park City, Utah, USA town skyline over Main Street at twilight.

1. Utah

  • Feb. 2021 unemployment rate: 3.0%

  • Year-over-year change in unemployment Feb. 2021: 0.4%

  • Q4 2020 GDP per capita: $65,494

  • GDP growth Q3 2020-Q4 2020: 7.1%

  • Average weekly wages Sept. 2020: $1,015

  • Percent change in average weekly wages Sept. 2019-Sept. 2020: 6.1%

  • Percent of population below poverty line 2019: 8.9%

More From GOBankingRates

Methodology: GOBankingRates analyzed the following seven factors for each state and the District of Columbia to gauge the health of their economies: (1) the February 2021 unemployment rate according to the Bureau of Labor Statistics’ (BLS) Local Area Unemployment Statistics data; (2) the year-over-year change in nonfarm payroll jobs as of February 2021 according to the BLS’s State and Metro Area Employment, Hours, & Earnings data; (3) the Q4 2020 GDP per capita in current dollars, calculated by using population data from the Census Bureau’s American Community Survey (ACS) 2019 5-year estimates and the Bureau of Economic Analysis’s (BEA) most recent GDP by State release; (4) the percent by which GDP grew between the third and fourth quarters of 2020, also according to the BEA’s GDP release; (5) the average weekly wage in September 2020 according to the BLS’s Economic News Release; (6) the percent change in the average weekly wage between September 2019 and September 2020, also according to the BLS Economic News Release; and (7) the percent of the population that was living below the poverty line in 2019, according to the Census Bureau’s 2019 ACS 1-year data. States were scored on all factors and ranked against each other based on their combined total score. The states with the lowest combined scores were identified as states with thriving economies and the states with the highest combined scores were identified as states with failing economies. All data was collected on and up to date as of March 29, 2021.

This article originally appeared on GOBankingRates.com: States Whose Economies Are Failing vs. States Whose Economies Are Thriving

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