DC’s overall economy gets strong marks; tops in some ways

A list of 2022’s Best and Worst State Economies included the District in its findings, and when compared to states, D.C. ranks 10th-best overall.

The WalletHub report weighed states (and the District) on 30 economic indicators, hard data points like unemployment rates and household incomes.

But it also looked at softer economic indicators as well.

“GDP growth, to startup activity, to the share of jobs in high-tech industries. So not only looking at economic activity and health but also the innovation potential there,” said Jill Gonzalez, an analyst at WalletHub.

The District outperforms most or all states in some categories.

“D.C. has the highest number of fast-growing firms, or essentially those startups. It also right now has an increase in its ratio of full-time jobs part-time jobs, and it has a very small share of uninsured, at under 4%,” Gonzalez said.

D.C. also ranks No. 1 for average educational attainment of recent immigrants.

Virginia ranks No. 20 for best state economies, but it ranks No. 1 for median household income. Maryland ranks No. 16 overall.

The top three states for economic health are Washington, Utah and California. The bottom three are Louisiana, Alaska and West Virginia.

WalletHub’s full 2022’s Best and Worst State Economies report is online.

Jeff Clabaugh

Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.

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