Inflation has been killing us over the last few years as prices for everything continue to rise as companies try to regain their lost profits from the COVID-19 pandemic. We have seen the trends start to turn around as many businesses have announced price cuts on thousands of items to make them more affordable for customers. You would think that companies reporting record profits would mean the economy is in great shape right?

Well, that may not always be the case as companies could be manipulating their numbers to make their profits better than they are. Many citizens in America are still struggling to stay afloat and are working paycheck to paycheck while the large companies are rolling in the dough. As we begin to reshape the economy, individual states' economies are being researched, and here is how Michigan looks.

While living in Michigan for my entire life, I would've said that Michigan was somewhere in the middle of the country as far as economic ranks go because there's some money here but we're not Illinois, New York, Florida, or California where you have a lot more wealthy individuals. I couldn't have been more right in my analysis as Michigan slides in the top half of states for economic rank.

WalletHub is back, giving us the best information to understand how to use our money the best and this time they are ranking the states based on how good their economy is. The United States Economy is heavily based on how well each state performs and contributes to the overall economy of the country, Michigan has the 19th-best economy in the United States.

WalletHub used a combination of economic activity, economic health, and innovation potential to find an overall score to rank each state's economy. Michigan would prefer well as they landed in the top half of the country at 19 due to the following metrics:

  • Economic Activity: 41
  • Economic Health: 27
  • Innovation Potential: 9
  • Overall Score: 46.52

We have a great ranking for innovation potential and our economic health is doing well ranked at 27 but we aren't doing enough economic activity to rise in the ranks.

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