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I would think this would be a more valid measure, of how successful a state is. Clearly, the states with the most population, are going to have the highest GDPs, BUT, states with lower populations, outperform some of those top ten states listed.
New Mexico's GDP growth is mostly thanks to the surging oil industry in the state over the last few years. That surge was also responsible for a more than $1 billion budget surplus this past fiscal year. New Mexico surpassed $100 billion in GDP for the first time last year.
Anyone think the gap between PA and Ill will shrink over the next decade?
PA and Ill seem to go back and forth in a lot of stats.
Not meaningfully unless PA GDP growth accelerates dramatically. For that quarter their GDP rates were growing identically (and these are arguably good times for PA and bad times for IL). IL still leads by a pretty decent margin.
Not meaningfully unless PA GDP growth accelerates dramatically. For that quarter their GDP rates were growing identically (and these are arguably good times for PA and bad times for IL). IL still leads by a pretty decent margin.
Going back over 20 years the spread on the two has been very consistent, even though the gross amount of GDP had more than doubled for both of them.
Illinois surplus of GDP compared to Pennsylvania in billions:
Despite rising taxes, a terrible financial situation and job losses, the state has still been creating GDP and jobs.
Since the recession ended the state has created 580,000 jobs, 311,000 of those were created after the population of the state began to fall.
Much of this is all riding directly on the Chicago area, which has created 587,000 jobs since the recession ended and 314,000 jobs since its population began falling. Chicago now registers the lowest unemployment rate and the lowest number of people on unemployment since records began being kept decades ago.
What's jarring is that Chicago is actually creating more jobs than Illinois as a whole - which goes to show how the Chicago area is actually fairly healthy and the rest of Illinois is VERY sick.
For all the negative attention it gets and the fact it's losing population, it's quite surprising that the GDP of Chicago has actually been growing faster in sheer volume than a booming place like Dallas that's adding 100,000 new people every year.
2014 to 2017 change in GDP by metro area in billions:
This is strange. Normally Georgia and NC and like neck in neck in just about everything. I wonder what's up. Maybe just a number glitch
Atlanta is getting close to 6 million people. North Carolina metros of Charlotte, Research Triangle, Asheville & the Triad add up to a little over 6 million. Really its just the power of a giant metro vs. multiple smaller metros.
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