A new analysis of U.S. labor data finds Oregon is the fifth-most productive state in the country. And western states dominate the top 10.
Commercial Real Estate website MyEListing based its findings on the following data:
- Employment Rank: Measures the employment levels in relation to the state’s population.
- Real Value Added Rank: Captures the net output of the state after adding up all outputs and subtracting intermediate inputs.
- Labor Productivity Rank: Represents the output produced per hour of labor.
- Worker Output Rank: Quantifies the total output produced by the workforce.
- Output Per Worker Rank: Measures the average output per individual worker.
- Hours Worked Rank: Assesses the average number of hours worked by employees in the state.
- Unit Labor Costs Rank: Examines the average cost of labor in producing one unit of output.
- GDP Per Capita Rank: Analyzes the state’s GDP divided by its population, providing insights into economic health and average income.
The top 10 most productive states in 2023, according to MyEListing, are:
- New Hampshire
“Oregon’s 5th-place spot can be linked to its performance in output per worker (4th) and real value added (7th),” MyEListing said in its report. “Labor productivity and worker output both secured a 7th-place rank, and the state’s GDP per capita ranking is a bit lower at 22nd.”
Washington state ranked No. 1 in labor productivity and output per worker, No. 2 in real value and No. 3 in GDP per capita.
The five least-productive states were Louisiana, Alaska, Mississippi, Wyoming and Rhode Island.
Oregon was also the 5th most-improved for overall productivity between 2017-2022. Idaho was No. 1, followed by Washington, Utah and California.
On its most-improved ranking, the site said “Oregon showcased its dedication to improving efficiency in resource utilization. This efficiency translated to a 14.2% rise in GDP per capita, indicating that economic growth was being channeled into increased prosperity for its residents.”