Maine’s Economy Gets Ranked Against the Other 50 States
Business Insider recently ranked all 50 states based on their economy. Where does Maine fall in the ranking?
Six factors were used to determine the health of a state's economy: recent change in housing prices, nonfarm payroll job growth, unemployment rate, gross domestic product per capita, average weekly wage, and state government surplus and deficit.
North Dakota came out on top thanks to the lowest unemployment rate in the nation and oil. The fracking in North Dakota has been a boom for the state creating jobs and increasing payrolls by 5.42%.
Maine on the other had was no where near the top. We ranked 49th in the nation. Why? Jobs in Maine only increased 0.84% iin 2014 and the average weekly wage of just $746.
So what's the only state we have a better economy then? Mississippi. So we've got that going for us I guess.