Monday, May 14, 2018
Determining the best states for job opportunities
Employment holds 30 percent of the weight in ranking the Best States for economy. This subcategory evaluates three major metrics: unemployment rate, job growth and labor force participation rate. While the labor force participation rate measures the percentage that is either employed or actively looking for a job, the unemployment rate delves deeper to measure the percentage of the labor force that is out of work. All three metrics indicate the employment and economic prospects in a state.
Hawaii ranks as the No. 1 state for employment, followed by North Dakota, Colorado and Utah. The worst state for jobs is West Virginia, and the bottom five are rounded out by Southwest and Southeast states New Mexico, Kentucky, Mississippi and Louisiana. Though California ranks No. 29 in jobs, it boasts the No. 4 economy because it ranks in the top five for both growth and business environment, the other two subcategories used to determine the Best States for economy.