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Report: Oregon among strongest state economies in the U.S.

A study by the personal finance site WalletHub ranked Oregon at #8 overall for best state economies in the nation.

Posted: Jun 3, 2019 11:43 AM
Updated: Jun 3, 2019 11:56 AM

SALEM, Ore. — A recent study by personal finance site WalletHub ranked Oregon among the top ten strongest state economies in the U.S., coming in at #8.

California recently became the fifth largest economy in the world, while Alaska has an unemployment rate over 6 percent. Variations like these, according to WalletHub, inspired the study as a way of examining how state economies are performing by different metrics.

The report found Washington state's economy to be the very top contender, followed by Utah, Massachusetts, California, Colorado, Washington D.C., Idaho, and Oregon. The West Coast performed well overall, due in large part to high levels of innovation.

"In order to determine which states are pulling the most weight, WalletHub compared the 50 states and the District of Columbia across 28 key indicators of economic performance and strength," study author Adam McCann wrote. "Our data set ranges from GDP growth to startup activity to share of jobs in high-tech industries."

Source: WalletHub

According to WalletHub, Oregon also boasted the third highest state-government surplus per capita — a phenomenon that has translated into debat over the "kicker" rebate for Oregon taxpayers — and the third highest average for educational attainment of recent immigrants, meaning that many people moving into the state have attained degrees in higher education.

Oregon also tied with California, Massachusetts, and Washington for the most independent inventor patents per 1,000 working-age citizens. 

The study compared states across three major points: Economic activity, economic health, and innovation potential. Economic activity included factors like GDP growth, exports per capita, and startup activity. Economic health included unemployment rate, total civilian labor force, and poverty levels. Finally, innovation potential included share of jobs in high-tech industries, share of STEM employment, and entrepreneurial activity.

Oregon Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 10395

Reported Deaths: 215
CountyConfirmedDeaths
Multnomah252969
Marion166148
Washington162020
Clackamas86125
Umatilla7726
Union3561
Lincoln3464
Lane2283
Deschutes2210
Malheur2161
Polk16012
Linn1579
Jackson1520
Yamhill1398
Jefferson1340
Klamath1301
Morrow1071
Benton955
Hood River940
Wasco941
Josephine561
Clatsop540
Douglas510
Columbia420
Coos420
Lake210
Tillamook150
Crook130
Wallowa100
Curry80
Baker50
Sherman30
Gilliam10
Grant10
Harney10
Unassigned00
Wheeler00

California Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 271035

Reported Deaths: 6441
CountyConfirmedDeaths
Los Angeles1165703534
Riverside20555486
Orange17882366
San Diego16726387
San Bernardino15345269
Imperial7190117
Alameda6855140
Fresno611077
Santa Clara5408164
Kern536982
Tulare5009136
San Joaquin447455
Sacramento423669
San Francisco399250
Contra Costa387885
Ventura378950
San Mateo3599108
Santa Barbara326129
Marin280921
Kings267333
Stanislaus266045
Monterey215115
Solano147625
Sonoma135911
Merced127211
Placer91111
San Luis Obispo7652
Yolo67726
Madera5785
Santa Cruz4593
Napa4364
San Benito2732
Sutter2523
Lassen2420
El Dorado2260
Butte2063
Shasta1544
Humboldt1444
Nevada1291
Yuba1282
Glenn1220
Lake961
Tehama881
Mendocino850
Colusa700
Del Norte581
Calaveras530
Mono471
Tuolumne430
Amador330
Inyo331
Siskiyou320
Mariposa311
Plumas110
Alpine20
Trinity20
Sierra10
Unassigned00
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