Special Report

State Economies Most Likely to Be Crippled by COVID-19

Methodology

To determine the states most likely to be hurt by COVID-19, 24/7 Wall St. created a weighted index of four measures. The first measure, which comprises 30% of the index, is the share of total employment in industries deemed to be at high-risk of slowdown due to the coronavirus outbreak. The second measure, which comprises 20% of the index, is the number of diagnosed cases per capita as of April 27 2020. The third measure, which comprises 30% of the index, is the number of new unemployment claims made since the week ending March 21 as a share of the 2018 state labor force, from the U.S. Bureau of Labor Statistics. The fourth measure, which comprises 20% of the index, is the projected unemployment rate by state for July 2020 from a report published on April 1 by the Economic Policy Institute, a nonpartisan, nonprofit think tank.

The identification of high-risk industries comes from the March 2020 paper “COVID-19: A Fiscal Stimulus Plan” published by Moody’s Analytics, an economics research firm.

Data on COVID-19 cases and deaths by state came from various state and local health departments and are current as of April 27 2020. COVID-19 cases and death toll were adjusted for population using five-year estimates from the U.S. Census Bureau’s 2018 American Community Survey. Population density was calculated using 2010 land area estimates from the Census Bureau and one-year population estimates from the 2018 ACS.

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.