WalletHub rated state economies based upon 29 metrics of their economy, ranging from the growth in each state's gross output and employment last year to the share of fast-growing businesses and startups and the fiscal health of each state. The top-rated states for their 2020 performance were:
Source: WalletHub. Tennessee ranked 29th and Alabama placed No. 32 among the 50 states. Tennessee was among the top five states for its economic health, but the Volunteer State ranked 38th for its innovation potential. The worst-rated states last year during the pandemic were tourism- and oil-dependent states. The lowest-ranked states, in order, were Hawaii, West Virginia, Louisiana, Alaska and Oklahoma.