States most vulnerable to coronavirus-driven economic hit
Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here.
The coronavirus pandemic has hit the U.S. economy hard as nonessential businesses across the country have been forced to close their offices to slow the spread of the virus.
As a result, companies have had to lay off or furlough employees, and earlier this month a record number of Americans -- 3.28 million -- applied for unemployment, according to the Labor Department.
However, some state economies will be hit harder than others.
THESE STATES ARE AGGRESSIVELY LIMITING CORONAVIRUS EXPOSURE: STUDY
On Tuesday, WalletHub published a report that found which state economies are the “most exposed” to coronavirus.
For its report, the personal finance website analyzed all 50 states and Washington, D.C., based on 10 measurements within two categories: “High Impact Industries & Workforce” and “Resources for Businesses to Cope Better with the Crisis.”
Aside from the overall results, WalletHub also found how states ranked on specific measurements.
APPLYING FOR UNEMPLOYMENT BECAUSE OF CORONAVIRUS? HERE’S HOW IN ALL 50 STATES
For example, Rhode Island was found to have the highest increase in the number of unemployment insurance claims while Utah had the lowest increase.
Meanwhile, three states tied as the least prepared for digital economy -- Alaska, New Jersey and Rhode Island -- while five states tied for the most prepared for digital economy -- Georgia, Michigan, Missouri, Ohio and Utah.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Six states shared the top spot for lowest share of workers with access to paid sick leave, while five shared the top spot for highest share of workers with access to paid sick leave.
The states with the lowest share were Alabama, Illinois, Indiana, Kentucky, Michigan and Mississippi. The states with the highest share were Alaska, California, Hawaii, Oregon and Washington.
To see the top results from the overall ranking, these are the state economies that are the most exposed to the coronavirus, according to WalletHub.
CLICK HERE TO READ MORE ON FOX BUSINESS
10. Illinois
9. Massachusetts
8. New Jersey
7. Montana
6. Pennsylvania
5. New Hampshire
4. Maine
3. Nevada
2. Rhode Island
1. Louisiana
Related Articles