The Truth About Massachusetts’ Economy: It’s Remarkable!

Everybody's concerned with the economy these days, seemingly more so than ever before. And out of the world's economies, the U.S.A. is by far the largest followed by China, Japan, Germany, and the United Kingdom.

However (I find this pretty interesting), think about this, if the state of California were actually a country, it would be the 5th-largest economy in the world, ahead of the United Kingdom. Pretty crazy, right?

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Once again our personal finance friends at WalletHub did the research and came up with a report on 2023's Best & Worst State Economies. They looked at several key factors concerning economic performance and strength to come up with the results.

Surprisingly (at least to me. Massachusetts has been surprising me a lot lately), the economy here in the Commonwealth is pretty gosh-darn good! According to WalletHub's study, Massachusetts ranked #3!

Let me put that another way: Out of the entire country, the Bay State has the third-best economy. WOW! Massachusetts performed well in several key metrics but what really pushed us to #3 was how high we ranked in one key metric.

Massachusetts was #1 when it came to the percentage of high-tech industry jobs the state has to offer. Here are the top 10 for 2023's Best State Economies according to WalletHub:

1. Washington
2. Utah
3. Massachusetts
4. Colorado
5. California
6. Idaho
7. North Carolina
8. District of Columbia
9. Texas
10. Arizona

And now the top 5 for 2023's Worst State Economies:

1. West Virginia
2. Louisiana
3. Alaska
4. Mississippi
5. Hawaii

As always, you can trust the WalletHub experts to put together a very fascinating report. Take a look at it by visiting their website here.