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State Economies Hit the Most by Coronavirus -- Hawaii #3
By Selected News Articles @ 3:46 AM :: 485 Views :: Hawaii Statistics, COVID-19

State Economies Hit the Most by Coronavirus

from Wallet Hub, Apr 5, 2021

Coronavirus isn’t just a danger to Americans’ health. It’s also a menace to our wallets. Due to the pandemic, many states still have restrictions on businesses, though the country is gradually reopening more and more as vaccination increases. The U.S. is still struggling to recover from the unemployment caused by business closures, too. While the federal government has helped mitigate some of this damage through multiple rounds of business loans, direct stimulus payments to individuals and increased unemployment benefits, it will take a long time for state economies to fully recover. That’s especially true in states that depend heavily on the industries that were most affected by the pandemic.

Some states are better positioned economically to deal with the coronavirus pandemic than others. To find out the states whose economies are hit the most by COVID-19, WalletHub compared the 50 states and the District of Columbia across 13 unique metrics. Their 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….

read … Full Report

State Economies Most Exposed to Coronavirus

Overall Rank  3
State Hawaii
Total Score  56.75
Highly Affected Industries & Workforce  2
Resources for Businesses to Cope Better with the Crisis  10

 

GDP Generated by Highly Affected Industries as Share of Total State GDP Ranking

Overall Rank  2
State Hawaii
Total Score  61.61
Accommodation and Food Services  1
Arts, Entertainment, and Recreation  9
Retail Trade  10
Mining, Quarrying, and Oil and Gas Extraction  40
Educational Services  20
Real Estate and Rental and Leasing  1
Other Services (except Government and Government Enterprises)  8

 

Share of Employment from Highly Affected Industries Ranking

Overall Rank  5
State Hawaii
Total Score  56.84
Accommodation and Food Services  1
Arts, Entertainment and Recreation  20
Advertising, Public Relations and Related Services  40
Retail Trade  18
Transportation  1
Oil and Gas Extraction  27
Educational Services  45
Health Care and Social Assistance  19
Real Estate, Rental and Leasing  1
Employment Services  34
Other Services, Except Public Administration  17

 

Note: With the exception of “Total Score,” all of the columns in the tables above depict the relative rank of that state, where a rank of 1 represents the worst conditions for that metric category.

 

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