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Wyoming economy 10th most hit by coronavirus
Wyoming’s economy is the 10th most hit by coronavirus among the 50 states and District of Columbia, according to a recent survey by WalletHub.
Using a set of data that ranged 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, WalletHub rated the states in terms of how they’re positioned economically to deal with the coronavirus pandemic.
Heading the list with an economy hit most by the pandemic is Louisiana. Before the pandemic, Louisiana had a high share of employment in some of the industries most impacted by the pandemic, including oil and gas extraction, food services, arts, entertainment and recreation and retail trade.
The least economic impact is in Washington, in part because the state has one of the largest shares of people working from home.
The good news, according to WalletHub analyst Jill Gonzalez, is that state economies should be bolstered in the coming months through a combination of vaccination and the American Rescue Plan. Gonzalez said as more people become eligible for, and receive, vaccinations, states will continue to eliminate restrictions. That, in turn, will lead to greater spending at businesses and a reduction in unemployment.
She said the combination of individuals spending more due to their stimulus checks, businesses avoiding layoffs through loans and states getting federal funding to replace lost tax revenue through the American Rescue Plan should also ease the economic problems.
