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New York Economy Ranks High Nationally

Business Insider ranked New York's economy 12th nationally in a recent story.
Business Insider ranked New York's economy 12th nationally in a recent story. Photo Credit: File

WESTCHESTER COUNTY, N.Y. -- New York's economy ranks 12th nationally among the nation's 50 states, according to a story on Business Insider.

The story ranked ranked the states' economies on six measures: recent change in housing prices, nonfarm payroll job growth, unemployment rate, GDP per capita, average weekly wage, and state government surplus and deficit.

The report also looked at the Fortune 500 companies that have their headquarters in each state and which industries were disproportionately important in each state.

The report cited New York for having the third-highest wages among the states, with a second quarter 2014 average weekly wage of $1,146. The state's gross domestic product per capita of $62,420 was the seventh highest in the country. New York housing prices rose only 1.55 percent between quarter three 2013 and quarter three 2014, the seventh-lowest rate in the rankings

North Dakota had the nation's strongest ecoonomy, according to the report, followed by Texas and Colorado.

Massachusetts (No. 10) was the highest ranking state that borders New York. Other states were Connecticut (23), New Jersey (35) and Pennsylvania (36).

Click here for the entire rankings by Business Insider.

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