California ranked No. 5 on the list with a total score of 59.6, beating out New York, Florida, and Illinois.
"A strong state economy doesn't guarantee success for the state's residents, but it certainly makes financial success more attainable," WalletHub analyst Cassandra Happe wrote.
"The best state economies also encourage growth by being friendly to new businesses and investing in new technology that will help the state deal with future challenges and become more efficient," Happe added.
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