President Biden’s chances of re-election largely depend on the public’s perception of the economy he has overseen — but the Biden economy looks different depending on your vantage point. America’s 51 micro-economies — though with several state GDPs in the trillions, some of them aren’t so micro — each experienced different outcomes in housing, employment, income and economic growth under his administration.
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To assess the country’s economic health more precisely during Biden’s tenure, GOBankingRates measured four key metrics from all 50 states and Washington, D.C. using data from the State Economic Monitor, created by the Urban Institute’s State and Local Finance Initiative, a joint Urban-Brookings Tax Policy Center project.
It outlines the unemployment rate and average weekly earnings in January 2021 and May 2024, the average home value percentage change in the first quarter of 2021 and the first quarter of 2024, and the state GDP in the first quarter of 2021 and the last quarter of 2023.
The November election will largely be a referendum on President Biden’s handling of the economy. Here’s how it looked in your state.
Alabama
-
Unemployment rate in January 2021: 4.20%
-
Unemployment rate in May 2024: 3.00%
-
Average weekly earnings in January 2021: $1,137
-
Average weekly earnings in May 2024: $1,033
-
YoY home value percentage change Q1 2021: 11.27%
-
YoY home value percentage change Q1 2024: 3.16%
-
State GDP Q1 2021: $283B
-
State GDP Q4 2023: $302B
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Alaska
-
Unemployment rate in January 2021: 7.00%
-
Unemployment rate in May 2024: 4.50%
-
Average weekly earnings in January 2021: $1,304
-
Average weekly earnings in May 2024: $1,258
-
YoY home value percentage change Q1 2021: 8.67%
-
YoY home value percentage change Q1 2024: 4.66%
-
State GDP Q1 2021: $64B
-
State GDP Q4 2023: $68B
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Arizona
-
Unemployment rate in January 2021: 6.40%
-
Unemployment rate in May 2024: 3.40%
-
Average weekly earnings in January 2021: $1,180
-
Average weekly earnings in May 2024: $1,139
-
YoY home value percentage change Q1 2021: 17.91%
-
YoY home value percentage change Q1 2024: 4.94%
-
State GDP Q1 2021: $463B
-
State GDP Q4 2023: $513B
Arkansas
-
Unemployment rate in January 2021: 4.90%
-
Unemployment rate in May 2024: 3.40%
-
Average weekly earnings in January 2021: $996
-
Average weekly earnings in May 2024: $1,002
-
YoY home value percentage change Q1 2021: 12.07%
-
YoY home value percentage change Q1 2024: 5.14%
-
State GDP Q1 2021: $167B
-
State GDP Q4 2023: $177B
California
-
Unemployment rate in January 2021: 8.70%
-
Unemployment rate in May 2024: 5.20%
-
Average weekly earnings in January 2021: $1,492
-
Average weekly earnings in May 2024: $1,318
-
YoY home value percentage change Q1 2021: 14.20%
-
YoY home value percentage change Q1 2024: 6.27%
-
State GDP Q1 2021: $3.66T
-
State GDP Q4 2023: $3.9T
Colorado
-
Unemployment rate in January 2021: 6.30%
-
Unemployment rate in May 2024: 3.80%
-
Average weekly earnings in January 2021: $1,252
-
Average weekly earnings in May 2024: $1,265
-
YoY home value percentage change Q1 2021: 13.12%
-
YoY home value percentage change Q1 2024: 3.61%
-
State GDP Q1 2021: $482B
-
State GDP Q4 2023: $526B
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Connecticut
-
Unemployment rate in January 2021: 7.10%
-
Unemployment rate in May 2024: 4.30%
-
Average weekly earnings in January 2021: $1,387
-
Average weekly earnings in May 2024: $1,259
-
YoY home value percentage change Q1 2021: 16.49%
-
YoY home value percentage change Q1 2024: 9.64%
-
State GDP Q1 2021: $315B
-
State GDP Q4 2023: $343B
Delaware
-
Unemployment rate in January 2021: 5.7%
-
Unemployment rate in May 2024: 3.9%
-
Average weekly earnings in January 2021: $1,125
-
Average weekly earnings in May 2024: $1,010
-
YoY home value percentage change Q1 2021: 14.12%
-
YoY home value percentage change Q1 2024: 10.73%
-
State GDP Q1 2021: $93B
-
State GDP Q4 2023: $94B
Washington, DC
-
Unemployment rate in January 2021: 7.30%
-
Unemployment rate in May 2024: 5.30%
-
Average weekly earnings in January 2021: $2,235
-
Average weekly earnings in May 2024: $1,769
-
YoY home value percentage change Q1 2021: 8.76%
-
YoY home value percentage change Q1 2024: -1.53%
-
State GDP Q1 2021: $168B
-
State GDP Q4 2023: $176B
Florida
-
Unemployment rate in January 2021: 5.90%
-
Unemployment rate in May 2024: 3.30%
-
Average weekly earnings in January 2021: $1,131
-
Average weekly earnings in May 2024: $1,089
-
YoY home value percentage change Q1 2021: 13.62%
-
YoY home value percentage change Q1 2024: 6.13%
-
State GDP Q1 2021: $1.38T
-
State GDP Q4 2023: $1.6T
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Georgia
-
Unemployment rate in January 2021: 4.80%
-
Unemployment rate in May 2024: 3.20%
-
Average weekly earnings in January 2021: $1,152
-
Average weekly earnings in May 2024: $1,072
-
YoY home value percentage change Q1 2021: 13.67%
-
YoY home value percentage change Q1 2024: 7.27%
-
State GDP Q1 2021: $758B
-
State GDP Q4 2023: $811B
Hawaii
-
Unemployment rate in January 2021: 9.50%
-
Unemployment rate in May 2024: 3.00%
-
Average weekly earnings in January 2021: $1,277
-
Average weekly earnings in May 2024: $1,196
-
YoY home value percentage change Q1 2021: 6.72%
-
YoY home value percentage change Q1 2024: 7.77%
-
State GDP Q1 2021: $101B
-
State GDP Q4 2023: $109B
Idaho
-
Unemployment rate in January 2021: 4.10%
-
Unemployment rate in May 2024: 3.30%
-
Average weekly earnings in January 2021: $1,063
-
Average weekly earnings in May 2024: $1,078
-
YoY home value percentage change Q1 2021: 24.42%
-
YoY home value percentage change Q1 2024: 4.60%
-
State GDP Q1 2021: $108B
-
State GDP Q4 2023: $120B
Illinois
-
Unemployment rate in January 2021: 7.20%
-
Unemployment rate in May 2024: 4.90%
-
Average weekly earnings in January 2021: $1,281
-
Average weekly earnings in May 2024: $1,108
-
YoY home value percentage change Q1 2021: 9.97%
-
YoY home value percentage change Q1 2024: 9.38%
-
State GDP Q1 2021: $1.04T
-
State GDP Q4 2023: $1.09T
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Indiana
-
Unemployment rate in January 2021: 4.70%
-
Unemployment rate in May 2024: 3.70%
-
Average weekly earnings in January 2021: $1,128
-
Average weekly earnings in May 2024: $1,018
-
YoY home value percentage change Q1 2021: 13.32%
-
YoY home value percentage change Q1 2024: 8.04%
-
State GDP Q1 2021: $464B
-
State GDP Q4 2023: $501B
Iowa
-
Unemployment rate in January 2021: 4.20%
-
Unemployment rate in May 2024: 2.80%
-
Average weekly earnings in January 2021: $1,092
-
Average weekly earnings in May 2024: $988
-
YoY home value percentage change Q1 2021: 9.68%
-
YoY home value percentage change Q1 2024: 5.44%
-
State GDP Q1 2021: $246B
-
State GDP Q4 2023: $251B
Kansas
-
Unemployment rate in January 2021: 4.00%
-
Unemployment rate in May 2024: 2.90%
-
Average weekly earnings in January 2021: $1,089
-
Average weekly earnings in May 2024: $990
-
YoY home value percentage change Q1 2021: 12.26%
-
YoY home value percentage change Q1 2024: 9.90%
-
State GDP Q1 2021: $211B
-
State GDP Q4 2023: $230B
Kentucky
-
Unemployment rate in January 2021: 4.60%
-
Unemployment rate in May 2024: 4.60%
-
Average weekly earnings in January 2021: $1,031
-
Average weekly earnings in May 2024: $1,003
-
YoY home value percentage change Q1 2021: 11.66%
-
YoY home value percentage change Q1 2024: 5.60%
-
State GDP Q1 2021: $262B
-
State GDP Q4 2023: $280B
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Louisiana
-
Unemployment rate in January 2021: 7.00%
-
Unemployment rate in May 2024: 4.10%
-
Average weekly earnings in January 2021: $1,127
-
Average weekly earnings in May 2024: $1,045
-
YoY home value percentage change Q1 2021: 7.83%
-
YoY home value percentage change Q1 2024: 2.23%
-
State GDP Q1 2021: $298B
-
State GDP Q4 2023: $313B
Maine
-
Unemployment rate in January 2021: 4.40%
-
Unemployment rate in May 2024: 3.00%
-
Average weekly earnings in January 2021: $1,002
-
Average weekly earnings in May 2024: $1,049
-
YoY home value percentage change Q1 2021: 15.72%
-
YoY home value percentage change Q1 2024: 9.12%
-
State GDP Q1 2021: $86B
-
State GDP Q4 2023: $92B
Maryland
-
Unemployment rate in January 2021: 6.30%
-
Unemployment rate in May 2024: 2.70%
-
Average weekly earnings in January 2021: $1,356
-
Average weekly earnings in May 2024: $1,146
-
YoY home value percentage change Q1 2021: 13.21%
-
YoY home value percentage change Q1 2024: 6.95%
-
State GDP Q1 2021: $493B
-
State GDP Q4 2023: $516B
Massachusetts
-
Unemployment rate in January 2021: 6.90%
-
Unemployment rate in May 2024: 3.00%
-
Average weekly earnings in January 2021: $1,490
-
Average weekly earnings in May 2024: $1,368
-
YoY home value percentage change Q1 2021: 13.47%
-
YoY home value percentage change Q1 2024: 8.84%
-
State GDP Q1 2021: $686B
-
State GDP Q4 2023: $741B
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Michigan
-
Unemployment rate in January 2021: 6.50%
-
Unemployment rate in May 2024: 3.90%
-
Average weekly earnings in January 2021: $1,171
-
Average weekly earnings in May 2024: $1,093
-
YoY home value percentage change Q1 2021: 12.99%
-
YoY home value percentage change Q1 2024: 7.79%
-
State GDP Q1 2021: $626B
-
State GDP Q4 2023: $664B
Minnesota
-
Unemployment rate in January 2021: 4.40%
-
Unemployment rate in May 2024: 2.80%
-
Average weekly earnings in January 2021: $1,333
-
Average weekly earnings in May 2024: $1,236
-
YoY home value percentage change Q1 2021: 11.25%
-
YoY home value percentage change Q1 2024: 4.79%
-
State GDP Q1 2021: $454B
-
State GDP Q4 2023: $476B
Mississippi
-
Unemployment rate in January 2021: 6.50%
-
Unemployment rate in May 2024: 2.80%
-
Average weekly earnings in January 2021: $921
-
Average weekly earnings in May 2024: $905
-
YoY home value percentage change Q1 2021: 9.64%
-
YoY home value percentage change Q1 2024: 2.73%
-
State GDP Q1 2021: $145B
-
State GDP Q4 2023: $147B
Missouri
-
Unemployment rate in January 2021: 4.90%
-
Unemployment rate in May 2024: 3.50%
-
Average weekly earnings in January 2021: $1,090
-
Average weekly earnings in May 2024: $1,015
-
YoY home value percentage change Q1 2021: 12.83%
-
YoY home value percentage change Q1 2024: 7.61%
-
State GDP Q1 2021: $398B
-
State GDP Q4 2023: $425B
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Montana
-
Unemployment rate in January 2021: 4.00%
-
Unemployment rate in May 2024: 3.10%
-
Average weekly earnings in January 2021: $1,009
-
Average weekly earnings in May 2024: $1,038
-
YoY home value percentage change Q1 2021: 15.12%
-
YoY home value percentage change Q1 2024: 5.15%
-
State GDP Q1 2021: $67B
-
State GDP Q4 2023: $71B
Nebraska
-
Unemployment rate in January 2021: 2.90%
-
Unemployment rate in May 2024: 2.50%
-
Average weekly earnings in January 2021: $1,086
-
Average weekly earnings in May 2024: $1,034
-
YoY home value percentage change Q1 2021: 12.29%
-
YoY home value percentage change Q1 2024: 7.14%
-
State GDP Q1 2021: $165B
-
State GDP Q4 2023: $181B
Nevada
-
Unemployment rate in January 2021: 8.90%
-
Unemployment rate in May 2024: 5.10%
-
Average weekly earnings in January 2021: $1,086
-
Average weekly earnings in May 2024: $1,033
-
YoY home value percentage change Q1 2021: 12.76%
-
YoY home value percentage change Q1 2024: 8.08%
-
State GDP Q1 2021: $213B
-
State GDP Q4 2023: $241B
New Hampshire
-
Unemployment rate in January 2021: 4.20%
-
Unemployment rate in May 2024: 2.50%
-
Average weekly earnings in January 2021: $1,233
-
Average weekly earnings in May 2024: $1,180
-
YoY home value percentage change Q1 2021: 16.15%
-
YoY home value percentage change Q1 2024: 9.37%
-
State GDP Q1 2021: $104B
-
State GDP Q4 2023: $112B
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New Jersey
-
Unemployment rate in January 2021: 7.30%
-
Unemployment rate in May 2024: 4.60%
-
Average weekly earnings in January 2021: $1,354
-
Average weekly earnings in May 2024: $1,196
-
YoY home value percentage change Q1 2021: 14.31%
-
YoY home value percentage change Q1 2024: 11.59%
-
State GDP Q1 2021: $751B
-
State GDP Q4 2023: $807B
New Mexico
-
Unemployment rate in January 2021: 8.20%
-
Unemployment rate in May 2024: 3.80%
-
Average weekly earnings in January 2021: $988
-
Average weekly earnings in May 2024: $939
-
YoY home value percentage change Q1 2021: 11.63%
-
YoY home value percentage change Q1 2024: 7.04%
-
State GDP Q1 2021: $121B
-
State GDP Q4 2023: $132B
New York
-
Unemployment rate in January 2021: 8.60%
-
Unemployment rate in May 2024: 4.20%
-
Average weekly earnings in January 2021: $1,395
-
Average weekly earnings in May 2024: $1,234
-
YoY home value percentage change Q1 2021: 12.84%
-
YoY home value percentage change Q1 2024: 10.87%
-
State GDP Q1 2021: $2.04T
-
State GDP Q4 2023: $2.17T
North Carolina
-
Unemployment rate in January 2021: 5.60%
-
Unemployment rate in May 2024: 3.60%
-
Average weekly earnings in January 2021: $1,132
-
Average weekly earnings in May 2024: $1,088
-
YoY home value percentage change Q1 2021: 14.06%
-
YoY home value percentage change Q1 2024: 5.79%
-
State GDP Q1 2021: $718B
-
State GDP Q4 2023: $773B
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North Dakota
-
Unemployment rate in January 2021: 4.00%
-
Unemployment rate in May 2024: 2.00%
-
Average weekly earnings in January 2021: $1,108
-
Average weekly earnings in May 2024: $1,201
-
YoY home value percentage change Q1 2021: 6.83%
-
YoY home value percentage change Q1 2024: 3.30%
-
State GDP Q1 2021: $71B
-
State GDP Q4 2023: $75B
Ohio
-
Unemployment rate in January 2021: 6.00%
-
Unemployment rate in May 2024: 4.20%
-
Average weekly earnings in January 2021: $1,106
-
Average weekly earnings in May 2024: $1,069
-
YoY home value percentage change Q1 2021: 13.50%
-
YoY home value percentage change Q1 2024: 8.03%
-
State GDP Q1 2021: $843B
-
State GDP Q4 2023: $881B
Oklahoma
-
Unemployment rate in January 2021: 5.00%
-
Unemployment rate in May 2024: 3.50%
-
Average weekly earnings in January 2021: $1,046
-
Average weekly earnings in May 2024: $1,030
-
YoY home value percentage change Q1 2021: 10.49%
-
YoY home value percentage change Q1 2024: 6.00%
-
State GDP Q1 2021: $241B
-
State GDP Q4 2023: $257B
Oregon
-
Unemployment rate in January 2021: 6.40%
-
Unemployment rate in May 2024: 4.20%
-
Average weekly earnings in January 2021: $1,177
-
Average weekly earnings in May 2024: $1,198
-
YoY home value percentage change Q1 2021: 14.50%
-
YoY home value percentage change Q1 2024: 3.96%
-
State GDP Q1 2021: $301B
-
State GDP Q4 2023: $320B
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Pennsylvania
-
Unemployment rate in January 2021: 7.40%
-
Unemployment rate in May 2024: 3.40%
-
Average weekly earnings in January 2021: $1,149
-
Average weekly earnings in May 2024: $1,077
-
YoY home value percentage change Q1 2021: 11.78%
-
YoY home value percentage change Q1 2024: 7.92%
-
State GDP Q1 2021: $914B
-
State GDP Q4 2023: $975B
Rhode Island
-
Unemployment rate in January 2021: 6.60%
-
Unemployment rate in May 2024: 4.30%
-
Average weekly earnings in January 2021: $1,207
-
Average weekly earnings in May 2024: $1,179
-
YoY home value percentage change Q1 2021: 15.47%
-
YoY home value percentage change Q1 2024: 8.47%
-
State GDP Q1 2021: $72B
-
State GDP Q4 2023: $78B
South Carolina
-
Unemployment rate in January 2021: 4.60%
-
Unemployment rate in May 2024: 3.40%
-
Average weekly earnings in January 2021: $1,114
-
Average weekly earnings in May 2024: $1,025
-
YoY home value percentage change Q1 2021: 12.26%
-
YoY home value percentage change Q1 2024: 8.47%
-
State GDP Q1 2021: $297B
-
State GDP Q4 2023: $325B
South Dakota
-
Unemployment rate in January 2021: 2.9%
-
Unemployment rate in May 2024: 2%
-
Average weekly earnings in January 2021: $1,026
-
Average weekly earnings in May 2024: $1,016
-
YoY home value percentage change Q1 2021: 14.67%
-
YoY home value percentage change Q1 2024: 4.27%
-
State GDP Q1 2021: $71B
-
State GDP Q4 2023: $73B
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Tennessee
-
Unemployment rate in January 2021: 5.40%
-
Unemployment rate in May 2024: 3.00%
-
Average weekly earnings in January 2021: $1,100
-
Average weekly earnings in May 2024: $1,025
-
YoY home value percentage change Q1 2021: 14.79%
-
YoY home value percentage change Q1 2024: 5.95%
-
State GDP Q1 2021: $480B
-
State GDP Q4 2023: $528B
Texas
-
Unemployment rate in January 2021: 6.70%
-
Unemployment rate in May 2024: 4.00%
-
Average weekly earnings in January 2021: $1,183
-
Average weekly earnings in May 2024: $1,159
-
YoY home value percentage change Q1 2021: 11.97%
-
YoY home value percentage change Q1 2024: 3.34%
-
State GDP Q1 2021: $2.30T
-
State GDP Q4 2023: $2.60T
Utah
-
Unemployment rate in January 2021: 3.40%
-
Unemployment rate in May 2024: 2.90%
-
Average weekly earnings in January 2021: $1,197
-
Average weekly earnings in May 2024: $1,119
-
YoY home value percentage change Q1 2021: 19.38%
-
YoY home value percentage change Q1 2024: 5.79%
-
State GDP Q1 2021: $255B
-
State GDP Q4 2023: $275B
Vermont
-
Unemployment rate in January 2021: 4.40%
-
Unemployment rate in May 2024: 2.10%
-
Average weekly earnings in January 2021: $1,121
-
Average weekly earnings in May 2024: $1,111
-
YoY home value percentage change Q1 2021: 10.90%
-
YoY home value percentage change Q1 2024: 12.80%
-
State GDP Q1 2021: $41B
-
State GDP Q4 2023: $43B
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Virginia
-
Unemployment rate in January 2021: 4.80%
-
Unemployment rate in May 2024: 2.70%
-
Average weekly earnings in January 2021: $1,252
-
Average weekly earnings in May 2024: $1,126
-
YoY home value percentage change Q1 2021: 11.46%
-
YoY home value percentage change Q1 2024: 5.73%
-
State GDP Q1 2021: $661B
-
State GDP Q4 2023: $713B
Washington
-
Unemployment rate in January 2021: 6.40%
-
Unemployment rate in May 2024: 4.90%
-
Average weekly earnings in January 2021: $1,454
-
Average weekly earnings in May 2024: $1,385
-
YoY home value percentage change Q1 2021: 16.14%
-
YoY home value percentage change Q1 2024: 5.12%
-
State GDP Q1 2021: $728B
-
State GDP Q4 2023: $808B
West Virginia
-
Unemployment rate in January 2021: 6.10%
-
Unemployment rate in May 2024: 4.20%
-
Average weekly earnings in January 2021: $1,048
-
Average weekly earnings in May 2024: $955
-
YoY home value percentage change Q1 2021: 11.60%
-
YoY home value percentage change Q1 2024: 3.64%
-
State GDP Q1 2021: $93B
-
State GDP Q4 2023: $100B
Wisconsin
-
Unemployment rate in January 2021: 4.70%
-
Unemployment rate in May 2024: 2.90%
-
Average weekly earnings in January 2021: $1,118
-
Average weekly earnings in May 2024: $1,097
-
YoY home value percentage change Q1 2021: 11.46%
-
YoY home value percentage change Q1 2024: 9.94%
-
State GDP Q1 2021: $405B
-
State GDP Q4 2023: $417B
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Wyoming
-
Unemployment rate in January 2021: 5.30%
-
Unemployment rate in May 2024: 2.90%
-
Average weekly earnings in January 2021: $1,096
-
Average weekly earnings in May 2024: $1,385
-
YoY home value percentage change Q1 2021: 8.51%
-
YoY home value percentage change Q1 2024: 4.07%
-
State GDP Q1 2021: $46B
-
State GDP Q4 2023: $51B
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This article originally appeared on GOBankingRates.com: The Health of the Economy in Every State Since Biden Was Elected
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