Western states have strongest economic momentum, report says
Western states dominate the top spots in a recent report ranking each states’ economic momentum.
Nevada took the stop spot, followed by Utah, Washington, Arizona, Idaho and Colorado as the states with the best economic mobility, according to the report.
State Policy Reports’ Index of State Economic Momentum rates each state’s economic momentum every quarter based on personal income growth, employment growth and population growth.
“Measures of the three components are averaged, and the national average is set at zero,” the report says. “Each state’s score is then expressed as a percentage above or below the national average.”
The six western states were the only ones to score above one percent.
Washington had the strongest growth in personal income at 6.5 percent, while Nevada had the best employment growth at 3.0 percent and top population growth at 2.1 percent.
Arizona Gov. Doug Ducey lauded his state’s ranking, citing continued job growth and a strong economy.
“With over 300,000 jobs added since 2015, rising paychecks, and the strongest manufacturing growth in 30 years, Arizona‘s economy is on a roll,” Ducey said in a statement. “This is a testament to a talented workforce, strong leaders, innovative entrepreneurs and business-friendly policies that continue to drive Arizona’s economic momentum.”
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