Colorado is One of the States With the Best Economy in the US
When it comes to states with the healthiest economies, Colorado is is near the top.
According to a Business Insider/MSN Money report, Colorado ranked in the top five states, including the District of Columbia, with the best economies.
The report says three key factors, a 12.7% increase in housing prices, lower than average unemployment and weekly wages higher than the national average helped place the Centennial State in the number three spot on the list of US states with the best economies.
The report says these are the top five states with the healthiest economies:
- District of Columbia
In a separate report, the Colorado Department of Labor and Employment said the December 2015 unemployment was 3.5% compared to the national average of 5.0%. Hourly wages were also up slightly in 2015.
The report indicates the industries with the largest growth in Colorado were in leisure and hospitality, construction, education and health services.
Two industries, mining and logging showed the biggest declines. Both of these industries are important to the Western Colorado economy.
The Business Insider report lists Wyoming, Louisiana, Oklahoma, New Mexico and West Virginia as having the worst economic growth.