The U.S. economy continues to show resilience despite higher interest rates and inflation. The national unemployment rate touched 3.4% in January and again in April this year, the lowest rate since 1969. At the same time, the labor force participation rate — a key metric that measures the number of adults who have jobs or are actively seeking employment — has been steadily rising after sharply declining early in 2020 at the beginning of the coronavirus pandemic and ensuing business shutdowns.
The nation’s GDP has grown in all but seven quarters since 2009. These seven quarters include the two quarters during the early months of the pandemic that were quickly followed by a huge rebound in economic activity in the third quarter of 2020.
But in a country the size of the United States, there are many pockets of economic winners and losers.
Using data from the U.S. Bureau of Economic Analysis, 24/7 Wall St. reviewed historical data on GDP to find the fastest shrinking local economy in every state. Counties and county equivalents were ranked based on the percentage change in real GDP from 2017 to 2021.
All counties in Delaware, Maine, and Rhode Island reported flat or positive real GDP growth from 2017 to 2021, so the fastest shrinking local economy in those states is the county with the slowest GDP growth over the period. (Here are the best and worst state economies according to new prosperity index.)
These counties with negative GDP growth from 2017 to 2021 indicate areas that the resilient U.S. economy has left behind in recent years. In fact, the economies of 13 counties on the list shrank by at least a third, with the worst contraction hitting the 27,564 residents of southern Ohio’s Adams County, who saw their local economy slashed by nearly half.
Unemployment in 22 of these counties, which have small populations, was above the national rate of 5.3% in 2021. The median population of these 50 struggling countries is about 14,000. Only six have populations higher than 100,000, and only three are home to more than a half million people. Severely impacted by the coronavirus pandemic and limited on air travel, was Honolulu County, Hawaii –the only country on this list with a population that’s over 1 million residents. (Here are cities that will add the most jobs by 2060 according to economists.)
All but eight of these counties have a per capita GDP that is lower than the national average of $61,855 in 2021. Five of these countries — located in Georgia, Arkansas, Alabama, Kentucky, and West Virginia — have per capita GDPs that are lower than $20,000, or less than the per capita GDP of Greece.
Here are the fastest shrinking local economies in the United States.
Alabama: Hale County
> Change in real GDP, 2017 to 2021: -17.9% (county); +6.6% (state)
> GDP, 2021: $221.6 million (county); $210.0 billion (state)
> GDP per capita, 2021: $14,956 (county); $42,015 (state)
> Unemployment rate, 2021: 5.5% (county); 3.4% (state)
> Fastest shrinking industry: Mining, quarrying, and oil and gas extraction
> County seat: Greensboro
[in-text-ad]
Alaska: Skagway Municipality
> Change in real GDP, 2017 to 2021: -33.9% (county); -6.3% (state)
> GDP, 2021: $67.8 million (county); $50.9 billion (state)
> GDP per capita, 2021: $51,005 (county); $69,121 (state)
> Unemployment rate, 2021: 13.6% (county); 6.4% (state)
> Fastest shrinking industry: Management of companies and enterprises
> County seat: Skagway
Arizona: Apache County
> Change in real GDP, 2017 to 2021: -7.5% (county); +14.5% (state)
> GDP, 2021: $2.2 billion (county); $347.7 billion (state)
> GDP per capita, 2021: $32,592 (county); $49,109 (state)
> Unemployment rate, 2021: 9.2% (county); 5.1% (state)
> Fastest shrinking industry: Mining, quarrying, and oil and gas extraction
> County seat: St. Johns
Arkansas: Newton County
> Change in real GDP, 2017 to 2021: -18.0% (county); +8.3% (state)
> GDP, 2021: $91.8 million (county); $123.3 billion (state)
> GDP per capita, 2021: $12,503 (county); $41,029 (state)
> Unemployment rate, 2021: 3.1% (county); 4.1% (state)
> Fastest shrinking industry: Management of companies and enterprises
> County seat: Jasper
[in-text-ad-2]
California: Plumas County
> Change in real GDP, 2017 to 2021: -13.7% (county); +13.3% (state)
> GDP, 2021: $867.1 million (county); $2.9 trillion (state)
> GDP per capita, 2021: $44,168 (county); $72,860 (state)
> Unemployment rate, 2021: 9.4% (county); 7.3% (state)
> Fastest shrinking industry: Mining, quarrying, and oil and gas extraction
> County seat: Quincy
Colorado: Dolores County
> Change in real GDP, 2017 to 2021: -40.1% (county); +13.3% (state)
> GDP, 2021: $124.8 million (county); $373.8 billion (state)
> GDP per capita, 2021: $54,537 (county); $65,307 (state)
> Unemployment rate, 2021: 5.0% (county); 5.4% (state)
> Fastest shrinking industry: Mining, quarrying, and oil and gas extraction
> County seat: Dove Creek
[in-text-ad]
Connecticut: Hartford County
> Change in real GDP, 2017 to 2021: -2.3% (county); -0.2% (state)
> GDP, 2021: $76.8 billion (county); $246.6 billion (state)
> GDP per capita, 2021: $85,469 (county); $68,386 (state)
> Unemployment rate, 2021: 6.6% (county); 6.3% (state)
> Fastest shrinking industry: Agriculture, forestry, fishing and hunting
> County seat: Hartford
24/7 Wall St.
Delaware: New Castle County
> Change in real GDP, 2017 to 2021: +3.1% (county); +6.7% (state)
> GDP, 2021: $44.0 billion (county); $64.4 billion (state)
> GDP per capita, 2021: $77,477 (county); $65,592 (state)
> Unemployment rate, 2021: 5.5% (county); 5.5% (state)
> Fastest shrinking industry: Arts, entertainment, and recreation
> County seat: Wilmington
Florida: Taylor County
> Change in real GDP, 2017 to 2021: -6.7% (county); +12.8% (state)
> GDP, 2021: $633.0 million (county); $1.0 trillion (state)
> GDP per capita, 2021: $29,087 (county); $48,247 (state)
> Unemployment rate, 2021: 5.2% (county); 4.6% (state)
> Fastest shrinking industry: Arts, entertainment, and recreation
> County seat: Perry
[in-text-ad-2]
Georgia: Echols County
> Change in real GDP, 2017 to 2021: -21.7% (county); +9.8% (state)
> GDP, 2021: $39.4 million (county); $575.3 billion (state)
> GDP per capita, 2021: $10,678 (county); $54,142 (state)
> Unemployment rate, 2021: 2.8% (county); 3.9% (state)
> Fastest shrinking industry: Utilities
> County seat: Statenville
Hawaii: Honolulu County
> Change in real GDP, 2017 to 2021: -6.4% (county); -5.6% (state)
> GDP, 2021: $55.4 billion (county); $74.5 billion (state)
> GDP per capita, 2021: $54,536 (county); $51,288 (state)
> Unemployment rate, 2021: 5.6% (county); 6.0% (state)
> Fastest shrinking industry: Agriculture, forestry, fishing and hunting
> County seat: Honolulu
[in-text-ad]
Idaho: Clark County
> Change in real GDP, 2017 to 2021: -30.1% (county); +19.6% (state)
> GDP, 2021: $38.7 million (county); $80.1 billion (state)
> GDP per capita, 2021: $46,133 (county); $44,211 (state)
> Unemployment rate, 2021: 3.2% (county); 3.5% (state)
> Fastest shrinking industry: Agriculture, forestry, fishing and hunting
> County seat: Dubois
Illinois: Crawford County
> Change in real GDP, 2017 to 2021: -35.3% (county); +3.6% (state)
> GDP, 2021: $1.4 billion (county); $780.1 billion (state)
> GDP per capita, 2021: $74,104 (county); $60,839 (state)
> Unemployment rate, 2021: 5.2% (county); 6.1% (state)
> Fastest shrinking industry: Manufacturing
> County seat: Robinson
Indiana: Spencer County
> Change in real GDP, 2017 to 2021: -24.0% (county); +6.5% (state)
> GDP, 2021: $870.7 million (county); $346.2 billion (state)
> GDP per capita, 2021: $43,645 (county); $51,285 (state)
> Unemployment rate, 2021: 3.0% (county); 3.9% (state)
> Fastest shrinking industry: Utilities
> County seat: Rockport
[in-text-ad-2]
Iowa: Osceola County
> Change in real GDP, 2017 to 2021: -22.0% (county); +5.2% (state)
> GDP, 2021: $364.2 million (county); $179.8 billion (state)
> GDP per capita, 2021: $59,044 (county); $56,542 (state)
> Unemployment rate, 2021: 2.2% (county); 3.8% (state)
> Fastest shrinking industry: Educational services
> County seat: Sibley
Kansas: Haskell County
> Change in real GDP, 2017 to 2021: -42.6% (county); +4.4% (state)
> GDP, 2021: $333.6 million (county); $162.3 billion (state)
> GDP per capita, 2021: $87,708 (county); $55,350 (state)
> Unemployment rate, 2021: 1.8% (county); 3.3% (state)
> Fastest shrinking industry: Agriculture, forestry, fishing and hunting
> County seat: Sublette
[in-text-ad]
Kentucky: Martin County
> Change in real GDP, 2017 to 2021: -28.4% (county); +6.4% (state)
> GDP, 2021: $202.6 million (county); $197.8 billion (state)
> GDP per capita, 2021: $17,781 (county); $44,017 (state)
> Unemployment rate, 2021: 8.6% (county); 4.4% (state)
> Fastest shrinking industry: Educational services
> County seat: Inez
Louisiana: St. Bernard Parish
> Change in real GDP, 2017 to 2021: -40.1% (county); -5.2% (state)
> GDP, 2021: $1.3 billion (county); $221.2 billion (state)
> GDP per capita, 2021: $28,623 (county); $47,485 (state)
> Unemployment rate, 2021: 6.8% (county); 5.6% (state)
> Fastest shrinking industry: Manufacturing
> County seat: Chalmette
Maine: Somerset County
> Change in real GDP, 2017 to 2021: +1.0% (county); +12.6% (state)
> GDP, 2021: $1.6 billion (county); $63.6 billion (state)
> GDP per capita, 2021: $31,450 (county); $46,862 (state)
> Unemployment rate, 2021: 6.3% (county); 4.6% (state)
> Fastest shrinking industry: Utilities
> County seat: Skowhegan
[in-text-ad-2]
Maryland: Calvert County
> Change in real GDP, 2017 to 2021: -19.2% (county); +0.6% (state)
> GDP, 2021: $3.9 billion (county); $368.6 billion (state)
> GDP per capita, 2021: $41,919 (county); $59,944 (state)
> Unemployment rate, 2021: 4.2% (county); 5.3% (state)
> Fastest shrinking industry: Utilities
> County seat: Prince Frederick
Massachusetts: Berkshire County
> Change in real GDP, 2017 to 2021: -2.5% (county); +10.4% (state)
> GDP, 2021: $6.2 billion (county); $533.1 billion (state)
> GDP per capita, 2021: $47,907 (county); $76,246 (state)
> Unemployment rate, 2021: 6.5% (county); 5.5% (state)
> Fastest shrinking industry: Arts, entertainment, and recreation
> County seat: Pittsfield
[in-text-ad]
Michigan: Montmorency County
> Change in real GDP, 2017 to 2021: -13.7% (county); +5.3% (state)
> GDP, 2021: $238.4 million (county); $481.8 billion (state)
> GDP per capita, 2021: $26,019 (county); $47,879 (state)
> Unemployment rate, 2021: 9.1% (county); 5.8% (state)
> Fastest shrinking industry: Educational services
> County seat: Atlanta
Minnesota: Rock County
> Change in real GDP, 2017 to 2021: -19.2% (county); +5.7% (state)
> GDP, 2021: $631.5 million (county); $346.2 billion (state)
> GDP per capita, 2021: $64,984 (county); $61,054 (state)
> Unemployment rate, 2021: 2.1% (county); 3.8% (state)
> Fastest shrinking industry: Educational services
> County seat: Luverne
Mississippi: Kemper County
> Change in real GDP, 2017 to 2021: -32.1% (county); +3.1% (state)
> GDP, 2021: $258.7 million (county); $104.4 billion (state)
> GDP per capita, 2021: $28,088 (county); $35,171 (state)
> Unemployment rate, 2021: 7.2% (county); 5.5% (state)
> Fastest shrinking industry: Mining, quarrying, and oil and gas extraction
> County seat: De Kalb
[in-text-ad-2]
Missouri: Audrain County
> Change in real GDP, 2017 to 2021: -16.6% (county); +5.1% (state)
> GDP, 2021: $839.3 million (county); $295.7 billion (state)
> GDP per capita, 2021: $33,276 (county); $48,146 (state)
> Unemployment rate, 2021: 3.5% (county); 4.1% (state)
> Fastest shrinking industry: Manufacturing
> County seat: Mexico
Montana: Prairie County
> Change in real GDP, 2017 to 2021: -44.1% (county); +6.5% (state)
> GDP, 2021: $34.2 million (county); $49.0 billion (state)
> GDP per capita, 2021: $27,896 (county); $45,433 (state)
> Unemployment rate, 2021: 3.7% (county); 3.4% (state)
> Fastest shrinking industry: Educational services
> County seat: Terry
[in-text-ad]
Nebraska: McPherson County
> Change in real GDP, 2017 to 2021: -38.7% (county); +7.0% (state)
> GDP, 2021: $20.6 million (county); $122.1 billion (state)
> GDP per capita, 2021: $43,354 (county); $62,586 (state)
> Unemployment rate, 2021: 1.8% (county); 2.7% (state)
> Fastest shrinking industry: Educational services
> County seat: Tryon
Nevada: Esmeralda County
> Change in real GDP, 2017 to 2021: -24.4% (county); +9.7% (state)
> GDP, 2021: $45.5 million (county); $159.6 billion (state)
> GDP per capita, 2021: $46,139 (county); $52,159 (state)
> Unemployment rate, 2021: 3.6% (county); 6.9% (state)
> Fastest shrinking industry: Agriculture, forestry, fishing and hunting
> County seat: Goldfield
New Hampshire: Coos County
> Change in real GDP, 2017 to 2021: -1.4% (county); +12.2% (state)
> GDP, 2021: $1.1 billion (county); $83.0 billion (state)
> GDP per capita, 2021: $36,493 (county); $60,478 (state)
> Unemployment rate, 2021: 4.3% (county); 3.4% (state)
> Fastest shrinking industry: Agriculture, forestry, fishing and hunting
> County seat: Lancaster
[in-text-ad-2]
New Jersey: Warren County
> Change in real GDP, 2017 to 2021: -4.4% (county); +5.5% (state)
> GDP, 2021: $3.7 billion (county); $566.9 billion (state)
> GDP per capita, 2021: $33,728 (county); $61,392 (state)
> Unemployment rate, 2021: 5.8% (county); 6.6% (state)
> Fastest shrinking industry: Transportation and warehousing
> County seat: Belvidere
New Mexico: Harding County
> Change in real GDP, 2017 to 2021: -19.5% (county); +5.2% (state)
> GDP, 2021: $70.4 million (county); $93.6 billion (state)
> GDP per capita, 2021: $132,069 (county); $44,385 (state)
> Unemployment rate, 2021: 5.0% (county); 7.1% (state)
> Fastest shrinking industry: Educational services
> County seat: Mosquero
[in-text-ad]
New York: Greene County
> Change in real GDP, 2017 to 2021: -8.2% (county); +6.7% (state)
> GDP, 2021: $2.1 billion (county); $1.5 trillion (state)
> GDP per capita, 2021: $43,389 (county); $75,307 (state)
> Unemployment rate, 2021: 5.0% (county); 7.0% (state)
> Fastest shrinking industry: Mining, quarrying, and oil and gas extraction
> County seat: Catskill
North Carolina: Tyrrell County
> Change in real GDP, 2017 to 2021: -14.5% (county); +9.4% (state)
> GDP, 2021: $105.8 million (county); $541.9 billion (state)
> GDP per capita, 2021: $30,791 (county); $52,275 (state)
> Unemployment rate, 2021: 6.9% (county); 4.9% (state)
> Fastest shrinking industry: Manufacturing
> County seat: Columbia
North Dakota: Grant County
> Change in real GDP, 2017 to 2021: -44.2% (county); -0.7% (state)
> GDP, 2021: $102.6 million (county); $53.8 billion (state)
> GDP per capita, 2021: $43,627 (county); $69,573 (state)
> Unemployment rate, 2021: 2.2% (county); 3.1% (state)
> Fastest shrinking industry: Utilities
> County seat: Carson
[in-text-ad-2]
Ohio: Adams County
> Change in real GDP, 2017 to 2021: -48.0% (county); +6.0% (state)
> GDP, 2021: $717.2 million (county); $629.3 billion (state)
> GDP per capita, 2021: $26,020 (county); $53,466 (state)
> Unemployment rate, 2021: 6.4% (county); 5.1% (state)
> Fastest shrinking industry: Utilities
> County seat: West Union
Oklahoma: Harper County
> Change in real GDP, 2017 to 2021: -36.6% (county); -0.4% (state)
> GDP, 2021: $189.1 million (county); $193.2 billion (state)
> GDP per capita, 2021: $56,308 (county); $48,942 (state)
> Unemployment rate, 2021: 2.6% (county); 4.0% (state)
> Fastest shrinking industry: Educational services
> County seat: Buffalo
[in-text-ad]
Oregon: Wheeler County
> Change in real GDP, 2017 to 2021: -13.2% (county); +10.9% (state)
> GDP, 2021: $30.7 million (county); $228.0 billion (state)
> GDP per capita, 2021: $20,788 (county); $54,188 (state)
> Unemployment rate, 2021: 3.3% (county); 5.2% (state)
> Fastest shrinking industry: N/A
> County seat: Fossil
24/7 Wall St.
Pennsylvania: Cameron County
> Change in real GDP, 2017 to 2021: -22.8% (county); +2.3% (state)
> GDP, 2021: $193.4 million (county); $711.0 billion (state)
> GDP per capita, 2021: $42,084 (county); $54,814 (state)
> Unemployment rate, 2021: 7.3% (county); 6.0% (state)
> Fastest shrinking industry: Wholesale trade
> County seat: Emporium
Rhode Island: Kent County
> Change in real GDP, 2017 to 2021: +0.0% (county); +3.6% (state)
> GDP, 2021: $8.6 billion (county); $54.6 billion (state)
> GDP per capita, 2021: $50,769 (county); $50,008 (state)
> Unemployment rate, 2021: 5.1% (county); 5.5% (state)
> Fastest shrinking industry: Transportation and warehousing
> County seat: East Greenwich
[in-text-ad-2]
South Carolina: Fairfield County
> Change in real GDP, 2017 to 2021: -27.2% (county); +9.2% (state)
> GDP, 2021: $955.5 million (county); $221.0 billion (state)
> GDP per capita, 2021: $45,098 (county); $43,522 (state)
> Unemployment rate, 2021: 5.7% (county); 3.9% (state)
> Fastest shrinking industry: Construction
> County seat: Winnsboro
South Dakota: Harding County
> Change in real GDP, 2017 to 2021: -34.7% (county); +8.3% (state)
> GDP, 2021: $69.0 million (county); $49.6 billion (state)
> GDP per capita, 2021: $58,528 (county); $56,202 (state)
> Unemployment rate, 2021: 2.4% (county); 2.6% (state)
> Fastest shrinking industry: Agriculture, forestry, fishing and hunting
> County seat: Buffalo
[in-text-ad]
Tennessee: Haywood County
> Change in real GDP, 2017 to 2021: -22.5% (county); +10.5% (state)
> GDP, 2021: $552.1 million (county); $352.5 billion (state)
> GDP per capita, 2021: $30,823 (county); $51,383 (state)
> Unemployment rate, 2021: 6.1% (county); 4.5% (state)
> Fastest shrinking industry: Educational services
> County seat: Brownsville
Texas: Stonewall County
> Change in real GDP, 2017 to 2021: -44.5% (county); +9.4% (state)
> GDP, 2021: $178.7 million (county); $1.8 trillion (state)
> GDP per capita, 2021: $131,620 (county); $62,886 (state)
> Unemployment rate, 2021: 4.2% (county); 5.6% (state)
> Fastest shrinking industry: Management of companies and enterprises
> County seat: Aspermont
Utah: Daggett County
> Change in real GDP, 2017 to 2021: -29.7% (county); +20.8% (state)
> GDP, 2021: $111.1 million (county); $186.9 billion (state)
> GDP per capita, 2021: $196,968 (county); $57,842 (state)
> Unemployment rate, 2021: 3.6% (county); 2.7% (state)
> Fastest shrinking industry: Wholesale trade
> County seat: Manila
[in-text-ad-2]
Vermont: Grand Isle County
> Change in real GDP, 2017 to 2021: -6.2% (county); +3.6% (state)
> GDP, 2021: $172.9 million (county); $30.5 billion (state)
> GDP per capita, 2021: $23,854 (county); $47,608 (state)
> Unemployment rate, 2021: 4.2% (county); 3.7% (state)
> Fastest shrinking industry: Transportation and warehousing
> County seat: North Hero
Virginia: Buchanan County
> Change in real GDP, 2017 to 2021: -13.8% (county); +8.1% (state)
> GDP, 2021: $915.0 million (county); $505.4 billion (state)
> GDP per capita, 2021: $44,383 (county); $58,882 (state)
> Unemployment rate, 2021: 6.6% (county); 3.9% (state)
> Fastest shrinking industry: Construction
> County seat: Grundy
[in-text-ad]
Washington: Pend Oreille County
> Change in real GDP, 2017 to 2021: -13.9% (county); +19.3% (state)
> GDP, 2021: $458.0 million (county); $575.1 billion (state)
> GDP per capita, 2021: $34,434 (county); $75,502 (state)
> Unemployment rate, 2021: 7.7% (county); 5.2% (state)
> Fastest shrinking industry: Mining, quarrying, and oil and gas extraction
> County seat: Newport
24/7 Wall St.
West Virginia: Mingo County
> Change in real GDP, 2017 to 2021: -36.0% (county); -0.1% (state)
> GDP, 2021: $452.2 million (county); $71.3 billion (state)
> GDP per capita, 2021: $18,985 (county); $39,612 (state)
> Unemployment rate, 2021: 8.9% (county); 5.1% (state)
> Fastest shrinking industry: Mining, quarrying, and oil and gas extraction
> County seat: Williamson
Wisconsin: Kewaunee County
> Change in real GDP, 2017 to 2021: -18.8% (county); +5.0% (state)
> GDP, 2021: $713.5 million (county); $306.5 billion (state)
> GDP per capita, 2021: $34,748 (county); $52,194 (state)
> Unemployment rate, 2021: 2.9% (county); 3.8% (state)
> Fastest shrinking industry: Utilities
> County seat: Kewaunee
[in-text-ad-2]
Wyoming: Uinta County
> Change in real GDP, 2017 to 2021: -18.1% (county); -3.0% (state)
> GDP, 2021: $771.9 million (county); $36.4 billion (state)
> GDP per capita, 2021: $37,626 (county); $63,124 (state)
> Unemployment rate, 2021: 5.2% (county); 4.6% (state)
> Fastest shrinking industry: Mining, quarrying, and oil and gas extraction
> County seat: Evanston
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
