PROVIDENCE – Rhode Island ranked as having the No. 9 worst economy in the United States in a study by WalletHub released Monday.
The study, “2019’s Best & Worst State Economies,” considered 28 metrics in three categories, including economic activity, economic health and innovation potential, for all 50 states and the District of Columbia.
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The Ocean State ranked second to last in the nation for economic activity, No. 39 for economic health and No. 28 for innovation potential.
The No. 43 overall ranking was the worst result in New England. Massachusetts was the highest-ranked state in the region at No. 3 overall. Washington was the highest-ranked state economy in the nation this year by WalletHub.
New England overall 2019 economy rankings:
- Massachusetts: No. 3
- New Hampshire: No. 9
- Connecticut: No. 27
- Vermont: No. 37
- Maine: No. 42
- Rhode Island: No. 43
Rhode Island received its lowest ranking metrics in the study for entrepreneurial activity (based on the Kauffman Index of Startup Activity) and for building-permit activity, with both metrics placing last in the nation. The state also ranked poorly for gross domestic product growth (No. 48 in the nation) and growth in state personal income from 2017 to 2018 (No. 48 in the U.S.).
The Ocean State earned its best ranking metrics related to economy for nonindustry research and development investment as a share of gross domestic product (No. 5 in the nation). The state also ranked as having the No. 9 lowest share of uninsured population and the No. 9 best average educational attainment of recent migrants from other U.S. states.
