Read our methodology to see how the scores and rankings were calculated.
Michigan Rankings.
| Health Care | #35 |
|---|---|
| Economy | #29 |
| Infrastructure | #35 |
| Opportunity | #5 |
| Fiscal Stability | #38 |
Is Michigan’s economy good?
According to Bloomberg, Michigan experienced its best economic recovery in history over the last two years. Michigan is #1 nationwide based on equally-weighted measures of employment, personal income, home prices, and stock market performance of publicly-traded companies.
Is Michigan rich or poor?
From the 2022 edition of Rich States, Poor States.
Current Economic Outlook Ranks (2022 Edition)
| State | 2022 Ranking |
|---|---|
| Michigan | 17th |
| New Hampshire | 18th |
| Ohio | 19th |
| Louisiana | 20th |
What is the economy like in Michigan?
Overview of the Michigan Economy
Michigan’s gross state product (GSP) in 2019 reached $473.9bn, with growth of 1.9% over the 5-years to 2019. Businesses in Michigan employed a total of 24.2 million in 2018, with average annual employment growth of 2.6%.
Is Michigan’s economy growing?
According to the Bureau of Labor Market Information and Strategic Initiatives, Michigan ranks tenth in small business revenue growth over the last two years. “Small businesses are the backbone of our economy and they continue to create jobs and get things done,” said Governor Gretchen Whitmer.
Is Michigan a good state to move to?
Even Popular Science magazine has given it a seal of approval by noting that Michigan will be the best place to live in America by the year 2100. But its draw extends beyond the natural charm. Well-paying jobs and high-quality education are a recurrent theme in Michigan.
What state has the best economy right now?
Washington topped the list of best state economies, ranking third on economic activity, seventh on economic health, and second on innovation potential. Utah and California rounded out the top three state economies.
What is the poorest U.S. state?
Poverty rates were highest in the states of Mississippi (19.58%), Louisiana (18.65%), New Mexico (18.55%), West Virginia (17.10%), Kentucky (16.61%), and Arkansas (16.08%), and they were lowest in the states of New Hampshire (7.42%), Maryland (9.02%), Utah (9.13%), Hawaii (9.26%), and Minnesota (9.33%).
Is Michigan a poverty state?
More than 60 percent of Americans will experience poverty at some point in their lives. Community Action is there when people need help. Roughly 16 percent of Michigan residents – including one in four (23%) of its children and 17 percent of its senior citizens – live in poverty.
Which state is richest in USA?
Richest U.S. States by GDP
- 1. California. California, the nation’s most populous state, has the largest state GDP of $3,120,386,000. California’s median household income is $80,440, the sixth-highest in the U.S.
- Texas.
- New York.
- Florida.
- Illinois.
Is Michigan’s economy recovering?
In 2019, Michigan began its biggest manufacturing boom since its recovery from the 2008 recession. The article notes non-farm payrolls since April 2020 surged 25 percent, almost double the 14.3 percent U.S. average and leading every state in the nation.
Where does Michigan rank economically?
Economic Outlook Rank
Michigan is currently ranked 17th in the United States for its economic outlook.
What state has the best economy in 2022?
The new top state for business in 2022 is North Carolina, according to a new CNBC study, thanks to putting partisanship aside to build the nation’s strongest economy.
Which state has the fastest growing economy?
GDP by State: GDP Growth Over 1 Year
| Rank | State | 1-Year Change (%) |
|---|---|---|
| 1 | Hawaii | 8.8% |
| 2 | Nevada | 8.2% |
| 3 | California | 8.0% |
| 4 | Tennessee | 7.6% |
What is one economic problem facing the state of Michigan?
Too many low-paid jobs.
The core reason 43 percent of Michigan households cannot pay for basic necessities is that the economy is producing too many low-wage jobs. This is structural. Lots of businesses that employ lots of people have business models based on low-wage workers.
Who has the number 1 economy in the US?
The three U.S. states with the highest GDPs were California ($3.36 Trillion), Texas ($1.99 Trillion), and New York ($1.85 Trillion). The three U.S. states with the lowest GDPs were Vermont ($36.1 Billion), Wyoming ($41.6 Billion), and Alaska ($55.0 Billion).
Where should I not live in Michigan?
The 5 Worst Places To Live In Michigan In 2022
- 5.) Flint. Adam Maloney via Unsplash. 5.) Flint.
- 4.) Jackson. Google Maps. 4.) Jackson.
- 3.) Detroit. Jason Hutchison via Unsplash. 3.) Detroit.
- 2.) Benton Harbor. Google Maps. 2.) Benton Harbor.
- 1.) Muskegon Heights. Google Maps. 1.) Muskegon Heights.
Whats a good salary in Michigan?
While ZipRecruiter is seeing salaries as high as $136,635 and as low as $18,754, the majority of salaries within the Average jobs category currently range between $44,205 (25th percentile) to $66,977 (75th percentile) with top earners (90th percentile) making $89,303 annually in Michigan.
What are the pros and cons of living in Michigan?
Pros And Cons Of Living In Michigan
- Variety of lifestyle choices.
- Reasonable cost of living.
- Lots of scenic beauty.
- Good higher education options.
- Plenty of fun things to do.
- Cold, snowy, cloudy winters.
- Poor transportation infrastructure.
- Spotty economic opportunity.
What state has the best quality of life?
Washington. Washington state has the highest quality of life in all 50 states. The state has no income tax, a thriving job market, and great international business opportunities. Residents enjoy one of the nation’s longest life expectancies, likely in part of their strong healthcare system and lifestyle habits.
Which state has the Most stable economy?
Utah is the top state for economy. It’s followed by Colorado, Idaho, Washington and Massachusetts to round out the top five. Five of the 10 states with the strongest economies also rank among the top 10 Best States overall.