LOGAN — Utah and Idaho have both earned top spots in WalletHub’s newly released 2025 rankings of the Best & Worst State Economies, with Utah placing second nationwide and Idaho coming in seventh.
The annual report by the personal-finance website compared all 50 states and the District of Columbia across 28 key indicators, including GDP growth, startup activity, and jobs in high-tech industries.
Utah ranked first in the nation for GDP growth, third for startup activity, and sixth for the share of jobs in high-tech industries. The state’s labor market remains among the healthiest in the country, with a 3.2% unemployment rate and the eighth-highest growth in its civilian labor force.
The Beehive State’s economic momentum also includes a 6.1% rise in average income from 2023 to 2024. Adjusted for cost of living, Utah’s median annual household income now tops $88,500 — the second-highest in the U.S.
Overall, Utah ranked:
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1st – Change in GDP
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2nd – Annual Median Household Income
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3rd – Startup Activity
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6th – % of Jobs in High-Tech Industries
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11th – Unemployment Rate
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13th – Change in Nonfarm Payrolls
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14th – Exports per Capita
Idaho also earned national recognition, placing seventh overall and ranking first in Economic Health, a category that includes metrics such as unemployment, income growth, and poverty rates.
The Gem State also ranked:
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3rd – Change in GDP
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5th – Startup Activity
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5th – Independent Inventor Patents per 1,000 Working-Age Population
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14th – Economic Activity
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17th – Innovation Potential
While Idaho’s economy is smaller in scale than Utah’s, its combination of steady growth and innovation earned it top marks. The state’s strength in entrepreneurship and patent production reflects a business-friendly environment, particularly in emerging sectors.
Nationally, Massachusetts ranked first overall, followed by Utah, Washington, California, and New Hampshire. WalletHub analysts emphasized that states with strong economies not only help residents achieve financial success but also better position themselves to adapt to future challenges.
“Strong state economies help residents buy homes, pay down debt and plan for the future,” said WalletHub analyst Chip Lupo.
WalletHub based the rankings on data from the U.S. Census Bureau, Bureau of Economic Analysis, National Science Foundation, and other sources. The full report is available at wallethub.com.