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Wisconsin Economy Ranked 40th in the Nation by WalletHub

Thursday, June 13th, 2024 -- 10:00 AM

(Alex Groth, Milwaukee Journal Sentinel) -The economy in Wisconsin has varied this year, with high labor force participation rate and new jobs across multiple industries.

But hundreds of workers have also lost their jobs and some experts even say the economy in the Milwaukee area is "stagnant." A new study from personal finance company WalletHub ranked all U.S. states with the best and worst economies.

Metrics included changes in gross domestic product, unemployment rates and growth of businesses and startups. Researchers also included Washington D.C. in the list of states because it's comparable with the rest of the states, said spokesperson Diana Polk.

California, Texas, New York and Florida all have economies large enough that, if they were countries, would rank in the top 20 in the world, according to the report. Wisconsin ranked as the 40th-best state economy in the U.S., including the District of Columbia, according to the WalletHub report.

Wisconsin had some of the lowest changes in GDP, ranking only ahead of Delaware among all U.S. states, according to the report. The state also had some of the lowest startup activity in the nation, according to the report.

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