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The economy of West Virginia nominally would be the 62nd largest economy globally behind Iraq and ahead of Croatia according to 2009 World Bank projections,[3] and the 64th largest behind Iraq and ahead of Libya according to 2009 International Monetary Fund projections.[4] The state has a projected nominal GDP of $63.34 billion in 2009 according to the Bureau of Economic Analysis report of November 2010, and a real GDP of $55.04 billion. The real GDP growth of the state in 2009 of .7% was the 7th best in the country. West Virginia's economy accelerated in 2014 with a growth rate of 5.1%, ranking third among the fastest growing states in the United States alongside Wyoming and just behind North Dakota and Texas.[5] In 2021, the state GDP was $72.48 billion, an increase over $69.71 billion in 2021.[6]
Morgantown was ranked by Forbes as the 10th best small city in the nation to conduct business in 2010,[7] then as 73rd in its 2019 "The Best Small Places For Business And Careers" rankings.[8]
West Virginia's unemployment rate in August 2019 was 4.6%, the lowest since the start of the Great Recession.[9] As a result of the COVID pandemic, West Virginia's unemployment rate had risen to 6.1% in December 2020,[10] which, by November 2022, had improved from pre-pandemic levels, reported at 4.1%.[11]
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