The Coincident Economic Activity Index (CEAI) is a composite index that gauges the current state of the economy. It relies on four key indicators: nonfarm payroll employment, average manufacturing hours worked, unemployment rate, and inflation-adjusted wage and salary disbursements. For the United States as a whole, the CEAI stands at 3.159616, indicating modest economic growth. However, there is substantial variation in economic activity among states.
The top 5 states with the highest CEAI growth are Massachusetts (7.757462), Maryland (7.681736), Washington (4.286088), Pennsylvania (4.144536), and Arizona (3.847084). These states are witnessing strong job growth, low unemployment, and are home to high-growth industries like technology, healthcare, and finance.
Conversely, the bottom 5 states with the lowest CEAI growth are New Jersey (0.251461), New York (1.931526), California (1.573285), Illinois (2.630558), and Michigan (2.792800). These states are experiencing slower job growth, higher unemployment, and face economic challenges such as high taxes and regulatory burdens.
It's essential to remember that the CEAI is just one measure of economic activity, and other factors like GDP growth and personal income growth should also be considered when assessing the overall economic health. Nonetheless, the CEAI is a valuable tool for identifying states experiencing economic growth and those facing economic challenges.
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