the staff of the Ridgewood blog
Ridgewood NJ, With the U.S. stock market having lost over 20 percent of its value and the U.S. government passing a historic $2 trillion stimulus package, WalletHub today released a report on the State Economies Most Exposed to 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 10 key metrics. The data set ranges from the share of employment by small businesses to the share of a state’s GDP coming from highly affected industries and increases in unemployment insurance claims. Below, you can see highlights from WalletHub’s report as well as a Q&A with WalletHub analysts.
Economic Exposure to Covid-19 in New Jersey (1=Best, 25=Avg.):
- 29th – GDP Generated by High-Risk Industries as Share of Total State GDP
- 7th – Share of Employment from Highly Impacted Industries
- 20th – Increase in Number of Unemployment Insurance Initial Claims
- 20th – Share of Employment from Small Businesses
- 15th – Share of Workers Working from Home
- 30th – Share of Workers with Access to Paid Sick Leave
- 3rd – State Rainy Day Funds as Share of State Expenditures
- 4th – State Fiscal Condition Index
To view the full report and your state’s rank, please visit: