In the first quarter of 2022, the State Policy Reports, published by Federal Funds Information for States, ranks Nevada as the best economy in the country. State Policy Report ranks states based on their most recent performance in three key measures of economic vitality – personal income growth, employment growth and population growth.
Just 19 states exceed the national economic performance in this update. Nevada beat out Texas and Florida. Nevada is by far the leading state in employment change, beating out Hawaii and California. Nevada’s employment increased 9.7% over the past year compared to the national average of 4.7%.
Nevada’s personal income grew by 10.2%, slightly behind Florida and Texas at 10.3%. Nevada’s annual population growth is at 1% compared to the national average of 0.12%. Idaho led the nation at 2.9%. Nevada’s unemployment rate is still high at 5.1% compared to the national average of 3.8%.