Ranking of America's Top States for Business and Unemployment Rate, Growth Rate of Employment, and Growth Rate of Gross State Product

Yun-Chen Morgan, Yu Hsing, Antoinette S. Phillips and Carl Phillips

Business and Economic Research, 2020, vol. 10, issue 3, 137-145

Abstract: This study attempts to determine whether the ranking of America's top states for business by CNBC is correlated with state economic performance such as the unemployment rate, the growth rate of employment, and the growth rate of gross state product. Binary variables for the South and the West are also considered. The sample consists of 50 states in 2018. The results indicate that the ranking of America's top states for business is correlated with each of these economic indicators. Regression analysis shows that the coefficient of the ranking in each of the three regressions is significant at the 1% level. A higher ranking for a state is associated with a lower unemployment rate, a higher growth rate of employment, and a higher growth rate of gross state product.

Keywords: Top states ranking; Unemployment rate; Growth rate of employment; Growth rate of gross state product (search for similar items in EconPapers)
Date: 2020
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