Oklahoma's economy is the 18th worst in the country, according to a 2024 study conducted by Wallethub.
Wallethub's study measured three different criteria: economy health, economic activity, and innovation potential. They calculated these three across 28 metrics for every state plus Washington, D.C.
Oklahoma was rated 42nd for innovation potential, eighth lowest in the nation. The state also ranked 26th for economic health.
Here's a look at how Oklahoma's economy stacks up in the US:
What other data might Wallethub have missed?
Although the state as a below average ranking, recent data shows the state GDP is growing faster than the U.S. as a whole. It was also the third-fastest-growing economy in the country in 2022.
As of April 2024, Oklahoma was also ranked ninth in the county for economic outlook in in a report by the American Legislative Exchange Council. Meanwhile, Forbes described the Oklahoma City metro as the second-best place for small businesses across the country in its 2024 report.
By region: how do Oklahoma's surrounding states compare?
Texas ranks fourth best in the nation, while Kansas (No. 21), Missouri (No. 36), and Arkansas (No. 48) trail.
Texas' economy is the eighth largest on a global scale. However, their unemployment rate is 4%. Oklahoma's unemployment rate comes in at 3.5%, a bit lower than the national average of 4.1%.
Which state economies came in first place?
Each state's economy was evaluated across 28 weighted metrics, with each graded on a 100-point scale and averaged together for the state's total score.
The top-ranked state economies are:
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Washington, score of 71
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Utah, 62
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Massachusetts, 61.5
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Texas, 60
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California, 59
The worst ranked are:
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Mississippi, score of 26
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Hawaii, 29
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West Virginia, 31
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Arkansas, 31
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Louisianna, 32
This article originally appeared on Oklahoman: Oklahoma's economy ranked one of the worst in the US, 2024 study shows