Alabama Economy One Of Least Vulnerable To Coronavirus: Study

MONTGOMERY, AL — The coronavirus pandemic has impacted the economies of multiple countries, and the United States is no exception. Somestates, however, have been and will continue to be impacted more than others, according to a recent study.

Personal finance website WalletHub conducted a study to determine which states' economies were most vulnerable to the coronavirus pandemic. Alabama ranked among the states least exposed economically.

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.

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Economic Exposure to Covid-19 in Alabama (1=Best, 25=Avg.):

• 39th – GDP Generated by High-Risk Industries as Share of Total State GDP
• 47th – Share of Employment from Highly Impacted Industries
• 48th – Increase in Number of Unemployment Insurance Initial Claims
• 30th – Share of Employment from Small Businesses
• 33rd – State Rainy Day Funds as Share of State Expenditures
• 43rd – State Fiscal Condition Index

Overall, Alabama's economy ranked as the 8th least vulnerable to the coronavirus pandemic. See the full report and the full state rankings on the WalletHub website.

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