Colorado Has Lowest Rate
New Mexico received a ranking of 40 out of 51 in an in-depth analysis of this year’s best and worst state economies by the personal-finance website WalletHub.
In order to determine the United States’ top economic performers, WalletHub’s analysts compared the 50 states and the District of Columbia across 27 key indicators of economic performance and strength. The data set ranges from GDP growth to startup activity to share of jobs in high-tech industries.
Colorado has the lowest unemployment rate, 2.6 percent, which is 2.6 times lower than in New Mexico, the state with the highest at 6.7 percent.
New Mexico received an “Economic Activity” rank of 44 and an “Economic Health” rank of 51. New Mexico is rated as having the lowest average of educational attainment of recent immigrants.
The state also received an “Innovation Potential” rank of 16, likely due to its number two spot in having the highest number of jobs in high-tech industries.