Wisconsin’s economy ranks toward the bottom among states. Here’s why.

The economy in Wisconsin has varied this year, with high labor force participation rate and new jobs across multiple industries. But hundreds of workers have also lost their jobs and some experts even say the economy in the Milwaukee area is “stagnant.”

A new study from personal finance company WalletHub ranked all U.S. states with the best and worst economies. Metrics included changes in gross domestic product, unemployment rates and growth of businesses and startups.

Researchers also included Washington D.C. in the list of states because it’s comparable with the rest of the states, said spokesperson Diana Polk.

California, Texas, New York and Florida all have economies large enough that, if they were countries, would rank in the top 20 in the world, according to the report.

Here’s which states made it to the top of WalletHub’s list and where Wisconsin landed among them:

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Wisconsin ranks as 40th-best state economy in the U.S.

Wisconsin ranked as the 40th-best state economy in the U.S., including the District of Columbia, according to the WalletHub report.

Wisconsin had some of the lowest changes in GDP, ranking only ahead of Delaware among all U.S. states, according to the report.

The state also had some of the lowest startup activity in the nation, according to the report.

Which state has the best economy?

Washington landed on the top of the list of states with the best economy, according to the WalletHub report.

Washington has the second-highest share of jobs in high-tech industries and the second-highest share of professionals who work in the science, tech, engineering and math fields. The state also has the fourth-highest percentage of firms on the Technology Fast 500 list.

“To top things off, new immigrants to the Evergreen State are the fifth-most educated in the country, and the state has the sixth-highest median household income after adjusting for the cost of living,” according to the report.

10 best economies in the United States

Here’s the top 10 economies in the U.S., according to the WalletHub report:

1. Washington
2. Utah
3. Massachusetts
4. Texas
5. California
6. Colorado
7. Florida
8. North Carolina
9. District of Columbia
10. Arizona

10 worst economies in the United States

1. Mississippi
2. Hawaii
3. West Virginia
4. Arkansas
5. Louisiana
6. Kentucky
7. Rhode Island
8. Iowa
9. Maine
10. Ohio

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Ricardo Torres of the Milwaukee Journal Sentinel contributed to this report.