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WalletHub Study: State Economies Hit the Most by Coronavirus

With vaccination efforts allowing states to reopen more and more but the unemployment rate still high at 6.2%, WalletHub today released updated rankings for the State Economies Hit the Most by Coronavirus, as well as accompanying videos.

To identify which states are most vulnerable economically, WalletHub compared the 50 states and the District of Columbia across 13 key metrics. The data set ranges from the share of employment from small businesses to the share of workers with access to paid sick leave and the increase in unemployment insurance claims. Below, you can see highlights from WalletHub’s report, as well as a Q&A with WalletHub analysts.

Impact of COVID-19 on California Economy (1=Most, 25=Avg.):

  • 22nd – GDP Generated by Highly Affected Industries as Share of Total State GDP
  • 21st – Share of Employment from Highly Affected Industries
  • 22nd – WalletHub’s “States Whose Unemployment Claims Are Recovering the Quickest” Score
  • 25th – Share of Employment from Small Businesses
  • 37th – Share of Workers Working from Home
  • 36th – Share of Workers with Access to Paid Sick Leave
  • 29th – State Rainy Day Funds as Share of State Expenditures
  • 11th – State Fiscal Condition Index

To view the full report and your state’s rank, please visit:
https://wallethub.com/edu/state-economies-most-exposed-to-coronavirus/72631

This article was released by WalletHub.