Louisiana’s COVID-19-era economy finished last in a recent ranking published by the website 24/7 Wall St. based on June’s jobless rate of 9.7 percent and a five-year annualized employment growth rate of – 2.3 percent.
The state’s annualized GDP growth through the first quarter of 2020 was 0.2 percent; its poverty rate was 18.7 percent.
In ranking state economies’ health post-COVID-19 shutdowns, 24/7 Wall St. evaluated four metrics: a five-year GDP growth, employment statistics, the jobless rate and the poverty rate. It used data 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 economic and state shutdowns, especially tourism and extraction of petroleum, according to 24/7 Wall St.
—
State Economy Rankings During COVID-19 Era
| Rank | State | 5-year Annualized GDP Growth Rate Through Q1 2020 | 5-year Annualized Employment Growth Rate Through June 2020 | June 2020 Jobless Rate | Poverty Rate |
| 1 | Utah | 3.4% | 2.4% | 5.1% | 9.0% |
| 2 | Idaho | 2.8% | 2.0% | 5.6% | 11.8% |
| 3 | Washington | 3.9% | 1.3% | 9.8% | 10.3% |
| 4 | Colorado | 2.9% | 0.9% | 10.5% | 9.6% |
| 5 | Maryland | 1.6% | -0.3% | 8.0% | 9.0% |
| 6 | Arizona | 3.0% | 1.2% | 10.0% | 14.0% |
| 7 | Nebraska | 1.2% | 0.2% | 6.7% | 11.0% |
| 8 | Oregon | 3.2% | 0.5% | 11.2% | 12.6% |
| 9 | Minnesota | 1.5% | -0.3% | 8.6% | 9.6% |
| 10 | Georgia | 2.5% | 0.3% | 7.6% | 14.3% |
| 11 | Maine | 1.7% | -0.9% | 6.6% | 11.6% |
| 12 | Virginia | 1.5% | -0.4% | 8.4% | 10.7% |
| 13 | South Carolina | 2.6% | 0.8% | 8.7% | 15.3% |
| 14 | Kansas | 1.6% | -0.8% | 7.5% | 12.0% |
| 15 | Texas | 2.4% | 0.2% | 8.6% | 14.9% |
| 16 | New Hampshire | 2.0% | -1.8% | 11.8% | 7.6% |
| 17 | Montana | 0.9% | 0.1% | 7.1% | 13.0% |
| 18 | South Dakota | 1.0% | -0.1% | 7.2% | 13.1% |
| 19 | Florida | 2.8% | -0.7% | 10.4% | 13.6% |
| 20 | North Carolina | 1.6% | -0.3% | 7.6% | 14.0% |
| 21 | Wisconsin | 1.2% | -1.0% | 8.5% | 11.0% |
| 22 | Kentucky | 0.9% | -0.4% | 4.3% | 16.9% |
| 23 | Vermont | 1.1% | -1.4% | 9.4% | 11.0% |
| 24 | Tennessee | 2.0% | -0.1% | 9.7% | 15.3% |
| 25 | Missouri | 0.9% | -1.0% | 7.9% | 13.2% |
| 26 | Alabama | 1.5% | 0.0% | 7.5% | 16.8% |
| 27 | Iowa | 0.5% | -1.6% | 8.0% | 11.2% |
| 28 | Connecticut | 0.4% | -1.1% | 9.8% | 10.4% |
| 29 | Nevada | 2.8% | -0.6% | 15.0% | 12.9% |
| 30 | North Dakota | -1.2% | -1.4% | 6.1% | 10.7% |
| 31 | Wyoming | -0.6% | -1.2% | 7.6% | 11.1% |
| 32 | Indiana | 1.1% | -0.6% | 11.2% | 13.1% |
| 33 | California | 3.0% | -1.8% | 14.9% | 12.8% |
| 34 | Oklahoma | 0.4% | -1.2% | 6.6% | 15.6% |
| 35 | Ohio | 1.1% | -1.0% | 10.9% | 13.9% |
| 36 | Arkansas | 1.1% | -0.9% | 8.0% | 17.2% |
| 37 | Pennsylvania | 1.3% | -1.9% | 13.0% | 12.2% |
| 38 | New Mexico | 1.3% | -0.7% | 8.3% | 19.5% |
| 39 | Massachusetts | 2.0% | -2.3% | 17.4% | 10.0% |
| 40 | Hawaii | 1.5% | -4.1% | 13.9% | 8.8% |
| 41 | Rhode Island | 0.7% | -1.6% | 12.4% | 12.9% |
| 42 | New Jersey | 0.9% | -2.2% | 16.6% | 9.5% |
| 43 | Michigan | 1.4% | -1.3% | 14.8% | 14.1% |
| 44 | Alaska | 0.0% | -2.4% | 12.4% | 10.9% |
| 45 | Illinois | 1.0% | -2.0% | 14.6% | 12.1% |
| 46 | Delaware | -1.0% | -0.7% | 12.5% | 12.5% |
| 47 | West Virginia | 0.4% | -1.2% | 10.4% | 17.8% |
| 48 | Mississippi | 0.8% | -1.7% | 8.7% | 19.7% |
| 49 | New York | 1.0% | -2.7% | 15.7% | 13.6% |
| 50 | Louisiana | 0.2% | -2.3% | 9.7% | 18.7% |
Source: 24/7 Wall St.
Advertisement
Advertisement
