The economy of Illinois ranks in the bottom third of the states in a recent survey, despite ranking in the top 10 in median annual household income.
The survey, conducted by the personal-finance website WalletHub, compares all 50 states and the District of Columbia on 28 economic indicators divided into three categories.
Accounting for all factors, Illinois came up in 35th place. The state of Washington was ranked first in the nation, while Louisiana hit the bottom of the list.
Of the five states that border Illinois, three ranked higher and two ranked lower. Indiana was highest at 23, followed by Wisconsin at 27 and Missouri at 29. Iowa was just below Illinois at 37, and Kentucky was at 41.
Illinois ranked in the top half of the survey in median household income (6), exports per capita (12), government surplus per capita (17), and business startup activity (23). It was below the middle in percentage of high-tech jobs (26), change in nonfarm payrolls (34), Gross Domestic Product growth (34), and unemployment rate (42).
These and other factors put Illinois in 27th place in the Economic Activity category and 28th in Innovation Potential. But the state fell to 49th in Economic Health.
The survey found that Wisconsin had the best unemployment rate and was in the top half of the survey in median household income (18), percentage of high-tech jobs (19), government surplus/deficit per capita (21) and exports per capita (25). Below-median rankings were Gross Domestic Product growth (28), change in nonfarm payrolls (36), and startup activity (47).
Wisconsin ranked at 16 in the Economic Health category, 27 in the Innovation Potential category, and 33 in Economic Activity.
- This ranking used data from the U.S. Census Bureau, Bureau of Labor Statistics, Bureau of Economic Analysis, Deloitte, United Health Foundation, U.S. Chamber Institute for Legal Reform, American Legislative Exchange Council, Mercatus Center at George Mason University, Council for Community and Economic Research, Renwood RealtyTrac, United States Patent and Trademark Office, National Science Foundation and Ewing Marion Kauffman Foundation.