Louisiana’s State Economy Is The Most Exposed To Coronavirus In The US
During the outbreak of COVID-19, Louisiana Governor John Bel Edwards has made tough decisions that impact hundreds of thousands of Louisiana residents. Some of these measures brought heavy impacts to the Louisiana economy. Including closing Educational Facilities, closing casinos, shutting down Non-essential businesses, and issuing a stay at home order.
But all of the measures that Governor Edwards has put in place have come with a plan behind it. Unlike some states, each measure has had a direct correlation to "flattening the curve" of the COVID outbreak.
These shutdowns has caused an incredible amount of damage to our state. Mostly it has impacted our collective anxiety, and our economy. Which is why law makers put together legislation for a "stimulus package" to get money to citizens.
During these last few weeks, one state's economy has been hit harder than any other. That state is right here in Louisiana. The data research team at WalletHub has crunched the numbers to illustrate that.
WalletHub has put together a list of ranked states called "State Economies Most Exposed to Coronavirus". Here are the Top 10 States feeling the impact, according to the study:
2. Rhode Island
5. New Hampshire
8. New Jersey
The research is based on multiple data points, including:
-GDP Generated by High-Risk Industries as Share of Total State GDP
-Share of Employment from Highly Impacted Industries
-Increase in Number of Unemployment Insurance Initial Claims
-Share of Employment from Small Businesses
-Resources for Businesses to Cope Better with the Crisis
That information was gathered through multiple sources. WalletHub lists them as: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Department of Labor, U.S. Small Business Administration, Government Technology, BroadbandNow, Pew Research Center, National Association of State Budget Officers, and Mercatus Center at George Mason University.