Illinois’ economy among most affected by pandemic


Share post:

(The Center Square) – Illinois’ economy was among the most adversely affected by the COVID-19 pandemic.

The pandemic decimated state economies after restrictions were placed on businesses, but some states were in a better position to deal with the crisis than others. According to the financial website WalletHub, Illinois ranked 15th in state economies most affected by the coronavirus pandemic.

To identify states whose economies were hit the most by the coronavirus, WalletHub used two key dimensions: “Highly Affected Industries & Workforce” and “Resources for Businesses to Cope Better with the Crisis.”

Analyst Jill Gonzalez said a couple of areas helped Illinois’ economy.

“You have things like retail that has bounced back, agriculture is one of the quickest ones to bounce back that are certainly helping Illinois right now,” Gonzalez said.

After the recommendation of health experts, Gov. J.B. Pritzker said his “bridge phase” will serve as a measured approach toward reopening the state. Phase 5 will begin when 50% of Illinoisans 16 and older have been vaccinated or COVID-19 metrics decline over a 28-day period. Until that time, business and event restrictions will remain in place.

The Illinois Department of Employment Security reported 16,182 new unemployment claims were filed during the week of March 29, a 14% increase from the previous week. Since early March 2020, there have been more than 3.5 million total claims filed in the state.

The most exposed state economies during the pandemic were Louisiana, Oklahoma and Hawaii. Hawaii experienced the highest decrease in real GDP (2020 vs. 2019) at 8.01%, while Utah experienced the lowest decrease at 0.10%.

The least exposed state economies were Washington, Arizona and Oregon.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related articles

Evacuation Alert: Wildfire Advances in Hidden Valley, Residents Urged to Leave Immediately

THOLA, AZ - A wildfire has erupted in the Hidden Valley region near Ralson and Barnes, just south of...

Chicago Heights Man Arrested in Snapchat Sting: Orland Park Police Seize Nearly $80,000 Cash, 23lbs of Cannabis

Orland Park, IL – An undercover operation has led to the arrest of a Chicago Heights man, who...

Arkansas Deputy Fatally Shoots Man Allegedly Wielding Machete in Columbus

Columbus, AR - A confrontation in Hempstead County escalated fatally when a deputy shot a man during a...

Fatal Early Morning Crash on Route 64 in St. Charles Township Leaves One Dead

St. Charles Township, IL - In the early hours on Route 64 near Anderson Road, a catastrophic incident...