A recent analysis done by Mark Zandi, who is the chief economist at Moody’s Analytics, examined the economic health of U.S. states. In his report, Zandi used data on jobs, consumer spending, and other factors to rank states from strongest to weakest economies. He found that 21 states, as well as Washington, D.C., are either in a recession or at high risk of one. These areas make up nearly one-third of the total U.S. gross domestic product, or GDP, which measures the value of all goods and services produced in a region. After this, he noted that another 13 states are “treading water,” which essentially means that their economies are stable but not growing much. Finally, the remaining 16 states are expanding, showing steady job gains and business activity The states at high risk or already in recession include Wyoming, Montana, Minnesota, Mississippi, Kansas, Massachusetts, Washington, Georgia, New Hampshire, Maryland, Rhode Island, Illinois, Delaware, Virginia, Oregon, Connecticut, South Dakota, New Jersey, Maine, Iowa, and West Virginia, along with, as mentioned before, Washington, D.C. A recession is a downturn where economic activity shrinks for several months, and it comes with falling GDP, higher unemployment, and less spending by people and businesses. Zandi’s assessment points to weak job growth and rising unemployment claims in these places as important and concerning warning signs. For example, areas near Washington, D.C., face extra pressure from cuts in federal government jobs In contrast, the 13 states treading water, which includes Missouri, Ohio, Hawaii, New Mexico, Alaska, New York, Vermont, Arkansas, California, Tennessee, Nevada, Colorado, and Michigan, are holding steady with little change in output or employment. The 16 expanding states are South Carolina, Idaho, Texas, Oklahoma, North Carolina, Alabama, Kentucky, Florida, Nebraska, Indiana, Louisiana, North Dakota, Arizona, Pennsylvania, Utah, and Wisconsin. According to Zandi’s analysis, these states are currently benefitting from stronger trade, tourism, and energy sectors. Zandi highlighted that even though the whole U.S. is not in recession yet, these state differences show uneven recovery from past slowdowns, like those tied to high prices or trade issues Like what you see? Check out similar content at www.fascinatingworld.org/politics-and-government #economy #gdp #recession #usa #map
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