State Economies Most Exposed to Coronavirus
From Wallet Hub, Mar 31, 2020
Coronavirus isn’t just a danger to Americans’ health. It’s also a menace to our wallets. It’s led to the closing of scores of non-essential events and businesses, hurting the livelihood of many people. The U.S. stock market has lost over 20 percent of its value, and the U.S. government was forced to pass a $2 trillion stimulus package. Some of the main features of the plan include sending checks to Americans, giving loans to businesses and providing extra funding for hospitals. Hopefully, this aid will start to turn the economic downturn around in a time when the number of unemployment insurance claims being filed is rising sharply.
Some states are better positioned economically to deal with the coronavirus pandemic than others. To find out the states whose economies are most exposed to COVID-19, WalletHub compared the 50 states and the District of Columbia across 10 unique metrics. Their data set ranges from share of employment from small businesses to share of workers with access to paid sick leave and increase in unemployment insurance claims….
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State Economies Most Exposed to Coronavirus
HAWAII
- 26 -- Overall Rank
- 45.24 – Total Score
- 17 -- ‘High Impact Industries & Workforce’ Rank
- 42 -- ‘Resources for Businesses to Cope Better with the Crisis’ Rank
- 3 – Highest Share of GDP generated by at-risk industries
- 47 – Lowest share of workers with access to paid sick leave (tied for highest)
Detailed Findings
GDP Generated by High-Risk Industries as Share of Total State GDP Ranking
| Overall Rank |
State |
Total Score |
‘Accommodation and Food Services’ Rank |
‘Arts, Entertainment, and Recreation’ Rank |
‘Retail Trade’ Rank |
‘Mining, Quarrying, and Oil and Gas Extraction’ Rank |
‘Educational Services’ Rank |
‘Real Estate, Rental and Leasing’ Rank |
‘Other Services (except Government and Government Enterprises)’ Rank |
| 3 |
HI |
62.22 |
1 |
10 |
17 |
40 |
22 |
1 |
16 |
Share of Employment from Highly Impacted Industries Ranking
| Overall Rank |
State |
Total Score |
‘Accommodation and Food Services’ Rank |
‘Arts, Entertainment and Recreation’ Rank |
‘Advertising, Public Relations and Related Services’ Rank |
‘Retail Trade’ Rank |
‘Transportation’ Rank |
‘Oil and Gas Extraction’ Rank |
‘Educational Services’ Rank |
‘Health Care and Social Assistance’ Rank |
‘Real Estate, Rental and Leasing’ Rank |
‘Employment Services’ Rank |
‘Other Services, Except Public Administration’ Rank |
| 6 |
HI |
57.76 |
1 |
15 |
46 |
44 |
1 |
27 |
28 |
14 |
3 |
34 |
13 |
|