10 US States with the Worst Economy

We posted about the 10 US States with the best economies, but what about the states that came in last in the rankings. We're giving them some love too. If you're interested in learning more about the methodology behind the ranking, please visit the link about and view our article on the 10 states with the best economies. Below we've rank the 10 worst performing economies starting with the most struggling and sluggish economy.

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1. West Virginia

  • 5 yr. GDP annual growth rate: +0.5% (4th smallest increase)
  • 2017 GDP: $67.8 billion (11th smallest)
  • June 2018 Unemployment: 5.3% (2nd highest)
  • 5 yr. annual employment growth: -0.4% (2nd largest decrease)

It should be noted here that West Virginia's population is shrinking which would put strain on any economy.

2. Alaska

  • 5 yr. GDP annual growth rate: -2.2% (the largest decrease)
  • 2017 GDP: $47.1 billion (5th smallest)
  • June 2018 Unemployment: 7.1% (the highest)
  • 5 yr. annual employment growth: -0.3% (3rd largest decrease)

The massive decrease in oil prices has been hard hitting on the Alaskan economy, a state dependent on their oil field production.

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3. Louisiana

  • 5 yr. GDP annual growth rate: -0.1% (3rd largest decrease)
  • 2017 GDP: $207.9 billion (25th largest)
  • June 2018 Unemployment: 4.7% (tied -- 4th highest)
  • 5 yr. annual employment growth: +0.4% (2nd smallest increase)

Louisiana is another resourced based economy that was hit by declining oil prices in 2014-2016.

4. Mississippi

  • 5 yr. GDP annual growth rate: +0.3% (2nd smallest increase)
  • 2017 GDP: $96.8 billion (15th smallest)
  • June 2018 Unemployment: 4.7% (tied -- 4th highest)
  • 5 yr. annual employment growth: +0.7% (11th smallest increase)

Mississippi has the lowest median household income and highest poverty rate of any other state.

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5. New Mexico

  • 5 yr. GDP annual growth rate: +0.7% (6th smallest increase)
  • 2017 GDP: $86.9 billion (14th smallest)
  • June 2018 Unemployment: 4.9% (3rd highest)
  • 5 yr. annual employment growth: +0.5% (6th smallest increase)

Nearly 1 in 4 New Mexico residents lives in poverty. It is a striking number, but it is only the 3rd poorest state in the US.

6. Kentucky

  • 5 yr. GDP annual growth rate: +0.8% (11th smallest increase)
  • 2017 GDP: $174.9 billion (22nd smallest)
  • June 2018 Unemployment: 4.2% (tied -- 18th highest)
  • 5 yr. annual employment growth: +1.0% (20th smallest increase)

7. Alabama

  • 5 yr. GDP annual growth rate: +0.7% (8th smallest increase)
  • 2017 GDP: $182.8 billion (24th smallest)
  • June 2018 Unemployment: 4.1% (tied -- 21st highest)
  • 5 yr. annual employment growth: +0.9% (17th smallest increase)

8. Arkansas

  • 5 yr. GDP annual growth rate: +1.1% (18th smallest increase)
  • 2017 GDP: $110.3 billion (17th smallest)
  • June 2018 Unemployment: 3.8% (tied -- 21st lowest)
  • 5 yr. annual employment growth: +0.9% (14th smallest increase)

9. Wyoming

  • 5 yr. GDP annual growth rate: +0.2% (the smallest increase)
  • 2017 GDP: $35.4 billion (2nd smallest)
  • June 2018 Unemployment: 3.7% (20th lowest)
  • 5 yr. annual employment growth: -0.6% (the largest decrease)
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10. Oklahoma

  • 5 yr. GDP annual growth rate: +1.5% (22nd largest increase)
  • 2017 GDP: $175.1 billion (23rd smallest)
  • June 2018 Unemployment: 3.9% (tied -- 25th highest)
  • 5 yr. annual employment growth: +0.5% (4th smallest increase)