Business

STUDY: Hawai‘i Ranks 48th for Economic Growth

June 4, 2019, 11:20 AM HST
* Updated June 7, 8:52 AM
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Click to find state economy ranking. Source: WalletHub

 

WalletHub, the same personal finance website and survey site that said Hawai‘i was the happiest state in the nation in 2018, is not quite as flattering when it comes to the Aloha State’s economy.

In WalletHub’s June 3, 2019, report on the Best & Worst State Economies, Hawai‘i the fourth worst in the nation, ranking 48th in terms of economic growth.

U.S. economic growth depends heavily on the performance of individual states. But some contribute more than others.

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In order to determine which states are pulling the most weight, WalletHub compared the 50 states and the District of Columbia across 28 key indicators of economic performance and strength. Its data set ranges from GDP growth to startup activity to share of jobs in high-tech industries.

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Although Hawai‘i has the third-lowest unemployment rate and a steadily growing economy (see charts below), the national study says we are lagging when it comes to economic growth.

In spite of efforts to create high-tech jobs, the state is ranked 50th when it comes to offering careers in these industries.

Hawai‘i is ranked 51st for exports per capita, the last in the nation, including Washington, DC.

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Other Hawai‘i Statistics

  • 1st in state-government surplus per capita
  • 3rd lowest unemployment rate, tied with Idaho, South Dakota and Wisconsin.
  • 28th in economic health
  • 47th in innovation potential
  • 48th in independent inventor patents
  • 50th in high-tech jobs
  • 51st in economic activity
  • 51st in exports per capita

BELOW: Data set ranges from GDP growth to startup activity
to share of jobs in high-tech industries.

State April 2019(P)
rate
Rank

Vermont

2.2 1

North Dakota

2.3 2

Iowa

2.4 3

New Hampshire

2.4 3

Hawai‘i

2.8 5

Idaho

2.8 5

South Dakota

2.8 5

Wisconsin

2.8 5

Massachusetts

2.9 9

For more unemployment rankings, click here.

State Economy Rankings
Overall Rank
(1 = Best)
State Total Score ‘Economic Activity’ Rank ‘Economic Health’ Rank ‘Innovation Potential’ Rank
1 Washington 77.60 1 4 2
2 Utah 73.51 2 1 10
3 Massachusetts 70.23 5 20 1
4 California 69.13 3 35 3
5 Colorado 63.79 9 3 8
6 District of Columbia 58.97 4 15 15
7 Idaho 58.23 13 2 18
8 Oregon 56.83 16 22 7
9 New Hampshire 56.75 20 17 5
10 North Carolina 55.90 15 11 12
11 Arizona 55.54 12 10 14
12 Texas 55.17 10 7 20
13 Michigan 53.87 22 31 4
14 Georgia 53.27 6 18 26
15 Minnesota 51.84 28 16 11
16 Maryland 51.71 18 37 9
17 Virginia 51.33 14 13 25
18 Florida 50.74 8 5 37
19 New York 49.88 11 41 17
20 Nevada 47.06 7 8 48
21 New Jersey 46.85 19 44 13
22 Tennessee 46.48 17 6 39
23 Wisconsin 45.96 29 21 24
24 Missouri 45.95 27 26 21
25 Delaware 45.94 30 25 16
26 Pennsylvania 44.92 21 38 19
27 Connecticut 42.66 42 49 6
28 Indiana 42.58 31 24 30
29 Iowa 42.41 37 14 27
30 North Dakota 42.01 26 27 34
31 Kansas 41.74 24 29 33
32 Nebraska 41.36 36 12 35
33 Illinois 39.06 23 48 29
34 South Carolina 39.02 32 23 41
35 Alabama 38.87 34 30 36
36 Ohio 38.84 25 43 32
37 Vermont 38.57 48 34 22
38 Montana 38.39 46 19 31
39 Oklahoma 35.97 35 33 42
40 South Dakota 35.78 47 9 44
41 New Mexico 35.41 41 51 23
42 Maine 34.42 38 36 43
43 Rhode Island 33.52 50 39 28
44 Wyoming 32.52 45 40 40
45 Kentucky 31.74 33 45 46
46 Arkansas 30.17 43 32 50
47 West Virginia 28.92 40 42 51
48 Hawaii 28.80 51 28 47
49 Mississippi 28.63 44 46 45
50 Louisiana 28.53 39 47 49
51 Alaska 28.49 49 50 38

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