Maryland’s Economy Ranks “9th Least Affected by Coronavirus” According to WalletHub

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Maryland’s Economy Ranks “9th Least Affected by Coronavirus” According to WalletHub

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According to an article released today by WalletHub, Maryland’s economy was the 9th least hit by the coronavirus pandemic.

The state of Louisiana was listed as the hardest hit while the District of Columbia was 5th and Virginia 44th.

Below you will see highlights from WalletHub’s report:

Impact of COVID-19 on Maryland Economy (1=Most, 25=Avg.):

  • 15th – GDP Generated by Highly Affected Industries as Share of Total State GDP
  • 24th – Share of Employment from Highly Affected Industries
  • 18th – WalletHub’s “States Whose Unemployment Claims Are Recovering the Quickest” Score
  • 20th – Share of Employment from Small Businesses
  • 28th – Share of Workers Working from Home
  • 36th – Share of Workers with Access to Paid Sick Leave
  • 20th – State Rainy Day Funds as Share of State Expenditures

“In order to identify the states whose economies are hit the most by coronavirus, WalletHub compared the 50 states and the District of Columbia across two key dimensions, “Highly Affected Industries & Workforce” and “Resources for Businesses to Cope Better with the Crisis.”

We evaluated those dimensions using 13 relevant metrics, which are listed below with their corresponding weights. Each metric was graded on a 100-point scale, with a score of 100 representing the highest value.

We then determined each state and the District’s weighted average across all metrics to calculate its overall score and used the resulting scores to rank-order our sample.”

To view the full report and your state’s rank, please visit:
https://wallethub.com/edu/state-economies-most-exposed-to-coronavirus/72631

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