Colorado ranks first for its work force and fourth overall in the latest ranking of top states for business.

The CNBC cable television network compiles its annual America’s Top States for Business based on a total of 88 metrics across 10 categories.

Colorado moved up from eighth to fourth overall in the 2022 ranking, behind top-ranked North Carolina, then Washington and Virginia.

Colorado received 1,522 out of a possible 2,500 points in the analysis.

The state received 302 points in moving from second to first for its work force, the category that carries the most weight in the analysis.

Colorado ranked ninth for technology and innovation; 11th for both economy and education; 12th for life, health and inclusion; and 16th for both infrastructure and business friendliness.

The stated fared less well in other categories, though, at 22nd for access to capital, 34th for cost of living and 36th for cost of business.

Gross domestic product, the broad measure of goods and services produced in the state, fell at an annual rate of 1.9 percent during the first quarter of 2022.

But the unemployment rate in Colorado fell to 3.5 percent in May, the latest month for which estimates are available. That’s a tenth of a point lower than the national jobless rate for June.

Tax rates are comparatively lower in Colorado with top corporate and individual income rates of 4.55 percent.

North Carolina moved up from second to first overall with the top ranking for economy, second ranking for access to capital and fifth ranking for technology and innovation.

Washington finished second overall with the second ranking for technology and innovation, third ranking for economy and fourth ranking for work force.

Virginia placed third with second ranking for education and sixth ranking for both access to capital and business friendliness.

Texas, Tennessee, Nebraska, Utah, Minnesota and Georgia rounded out the top 10 states in the 2022 rankings.

Mississippi ranked as the worst state overall for business with the worst ranking for business friendliness, 49th ranking for economy and 48th ranking for technology and innovation.

Alaska placed 49th overall, followed by Lousiana, New Mexico and Hawaii.