FILE - NY Andrew Cuomo 6-19-2020

New York Gov. Andrew Cuomo delivers an address June 19, 2020, from his office at the Capitol in Albany, New York, his final installment in a line of daily coronavirus briefings extending back to mid-March.

TownNews.com Content Exchange

With a June jobless rate of 15.7 percent and a five-year annualized employment growth rate of negative 2.7 percent, the New York economy finished second worst in a new ranking by the website 24/7 Wall St.

The state’s annualized gross domestic product growth through the first quarter of this year stood at 1 percent, the financial news website reported, while its poverty rate came in at 13.6 percent. 

In ranking the health of state economies during the COVID-19 pandemic, 24/7 Wall St. looked at four metrics: the five-year GDP growth, employment statistics, the jobless rate and the poverty rate. The data originate from the U.S. Census Bureau, Bureau of Labor Statistics and Bureau of Economic Analysis.

The states that took the biggest hits economically were dependent on industries most affected by the pandemic, such as tourism and extraction of petroleum, according to 24/7 Wall St.

Order Your Halloween Costume Now! Browse the huge selection at HalloweenCostumes.com!

Page 1 of 14

---

State Economy Rankings During COVID-19 Era

RankState5-year Annualized GDP Growth Rate Through Q1 20205-year Annualized Employment Growth Rate Through June 2020June 2020 Jobless RatePoverty Rate
1Utah3.4%2.4%5.1%9.0%
2Idaho2.8%2.0%5.6%11.8%
3Washington3.9%1.3%9.8%10.3%
4Colorado2.9%0.9%10.5%9.6%
5Maryland1.6%-0.3%8.0%9.0%
6Arizona3.0%1.2%10.0%14.0%
7Nebraska1.2%0.2%6.7%11.0%
8Oregon3.2%0.5%11.2%12.6%
9Minnesota1.5%-0.3%8.6%9.6%
10Georgia2.5%0.3%7.6%14.3%
11Maine1.7%-0.9%6.6%11.6%
12Virginia1.5%-0.4%8.4%10.7%
13South Carolina2.6%0.8%8.7%15.3%
14Kansas1.6%-0.8%7.5%12.0%
15Texas2.4%0.2%8.6%14.9%
16New Hampshire2.0%-1.8%11.8%7.6%
17Montana0.9%0.1%7.1%13.0%
18South Dakota1.0%-0.1%7.2%13.1%
19Florida2.8%-0.7%10.4%13.6%
20North Carolina1.6%-0.3%7.6%14.0%
21Wisconsin1.2%-1.0%8.5%11.0%
22Kentucky0.9%-0.4%4.3%16.9%
23Vermont1.1%-1.4%9.4%11.0%
24Tennessee2.0%-0.1%9.7%15.3%
25Missouri0.9%-1.0%7.9%13.2%
26Alabama1.5%0.0%7.5%16.8%
27Iowa0.5%-1.6%8.0%11.2%
28Connecticut0.4%-1.1%9.8%10.4%
29Nevada2.8%-0.6%15.0%12.9%
30North Dakota-1.2%-1.4%6.1%10.7%
31Wyoming-0.6%-1.2%7.6%11.1%
32Indiana1.1%-0.6%11.2%13.1%
33California3.0%-1.8%14.9%12.8%
34Oklahoma0.4%-1.2%6.6%15.6%
35Ohio1.1%-1.0%10.9%13.9%
36Arkansas1.1%-0.9%8.0%17.2%
37Pennsylvania1.3%-1.9%13.0%12.2%
38New Mexico1.3%-0.7%8.3%19.5%
39Massachusetts2.0%-2.3%17.4%10.0%
40Hawaii1.5%-4.1%13.9%8.8%
41Rhode Island0.7%-1.6%12.4%12.9%
42New Jersey0.9%-2.2%16.6%9.5%
43Michigan1.4%-1.3%14.8%14.1%
44Alaska0.0%-2.4%12.4%10.9%
45Illinois1.0%-2.0%14.6%12.1%
46Delaware-1.0%-0.7%12.5%12.5%
47West Virginia0.4%-1.2%10.4%17.8%
48Mississippi0.8%-1.7%8.7%19.7%
49New York1.0%-2.7%15.7%13.6%
50Louisiana0.2%-2.3%9.7%18.7%

Source: 24/7 Wall St.


Submit news, views and sports. Post to the events calendar. Sign up for free newsletters. Advertise your business. Email the publisher. 
Connect on Facebook, Instagram, Twitter and YouTube.

This article originally ran on thecentersquare.com.

TownNews.com Content Exchange
Load comments
Page 1 of 3

Recommended for you