Illinois was ranked the third worst-run state in the country, according to an annual survey by 24/7 wall street.
Illinois’ low-credit rating and high level of unemployment were cited as reasons for its low placement on the list. In addition, Illinois has the 11th highest debt per capita ($5,041), 9th largest budget deficit (18.5 percent) and 10th highest unemployment rate (8.9 percent).
Median household income and percent below poverty line fared slightly better, standing at $55,137 and 14.7 percent, respectively.
In addition, Illinois has the worst credit rating in the country, something Moody’s attributes to the state’s underfunded pension and weak fiscal practices, such as bill payment delays.
The state also faced high foreclosure and unemployment rates in 2012, which were both among the worst in the country.
North Dakota and Wyoming were the best run states in the country, with surveyors citing their high level of economic output and relatively low unemployment and poverty rates as reasons for their success.
California was listed as the worst-run state due to a nearly $24 billion budget shortfall, second worst-credit rating (after Illinois) and lack of educational attainment, health coverage and high unemployment rates.
New Mexico came in second, and surveyors said only its relatively-good credit rating prevented it from being the worst –run state. The state was ranked among the 10 worst nationwide for violent crime, high school graduation rates among adults and health insurance coverage.