BALTIMORE — Maryland's economy ranks in the top 10, according to a report published in USA Today.
Maryland ranks eighth on a list compiled by 24/7 Wall St. based on an index comprising five measures: GDP growth, job growth, unemployment rate, poverty rate, and bachelor's degree attainment rate, USA Today reported.
The report indicated Maryland's five-year GDP annual growth rate was +3.9%, which was the 19th largest increase, and last year's GDP was $412.9 billion, the 15th largest. Unemployment in April was 3.8%, which was tied for 18th highest, the report cited.
The report found almost 40% of adults in Maryland have at least a bachelor's degree, which exceeds the national share, which was 32% and was the third-highest college attainment rate of any state.
Maryland Gov. Larry Hogan tweeted a statement, saying, "So pleased to see Maryland ranked as the eighth best economy in America! When I become governor, I pledged to put Maryland on a new and better path -- and that is exactly what we have done. As a result of our efforts to put more money back into Marylanders' pockets, we had the best year for business in Maryland in more than a decade. We went from losing 100,000 jobs to gaining 120,000 jobs. More businesses have been opened and more people are working than ever."
The report found, "A typical Maryland household earns over $20,000 more than the typical U.S. household annually, and just 9.3% of the state population lives below the poverty line -- the second-lowest poverty rate nationwide."