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Now that the recovery appears to finally be taking hold, Business Insider decided to see how that recovery was being felt across the country.
We ranked each state on how eight economic measures have grown or shrunk in recent years: the unemployment rate, the number of non-farm payroll jobs, gross domestic product, average wages, the working age (18-64) population, value of international exports, house prices, and auto sales.
Check out how we made the ranking here.
32. Maryland
According to a report by the Federal Reserve Bank of Richmond, "recent reports of Maryland's economy were mixed, with some labor market contraction but some improvement in household conditions and in housing markets." Additionally, "jobs were added in logging, mining, and construction, financial activities, education and health services, leisure, and hospitality."
- Maryland wages went up 1.4%, the highest increase of any state.
- Exports decreased by 1.4%.
- And unemployment dropped by 0.9%.
11. Oregon
Oregon has an economy mirroring that of the U.S., with a mixture of agriculture, manufacturing, and services, Recent job growth in Oregon has been fueled, as it has been throughout the country, by educational and health services, business services, and retail trade. Here's how Oregon looks in our ranking:
- Oregon's housing market is in a strong state of recovery, with prices increasing by 8.1% between Q1 2013 and Q1 2014.
- Oregon also saw good private sector job growth over the last year, adding 45,400 jobs, or a 2.7% increase.
- Oregon's economy as a whole is also growing, with 2.7% GDP growth in 2013.
1. Colorado
Colorado was in the top 10 states on five of our metrics, and in the top 15 on the other three. As with many of the other top economies, Colorado's economy is highly diversified, and it especially boasts a strong aerospace sector and a huge amount of federal investment, such as the NORAD complex. Here are some of the metrics in which Colorado really shined:
- Colorado saw 1.2% growth in its working age population from 2012 to 2013.
- The state also had 2.8% growth in non-farm payroll jobs, adding 66,300 jobs between June 2013 and June 2014.
- Colorado's GDP grew 3.8% year over year in 2013.
All in all, Colorado's economy is broadly growing at a healthy clip, and so it comes in as the overall winner.