JACKSON, Wyo. — A report released today by WalletHub, stated that Wyoming’s economy is the 10th most hit by COVID-19 in the U.S.
As a state whose workforce primarily relies on mineral extraction, tourism, and agriculture, Wyoming’s industries have suffered more than others. In the report, Wyoming ranked 6th in states with the most highly affected industries and workforce.
“Some states are better positioned economically to deal with the coronavirus pandemic than others,” the WalletHub study said.
The report details how the most highly affected workforce in the state was Mining, Quarrying, and Oil and Gas Extraction; one of the main pillars of Wyoming’s economy. Whereas in other areas of the country, state economies do not rely on such industries.
“While the federal government has helped mitigate some of this damage through multiple rounds of business loans, direct stimulus payments to individuals, and increased unemployment benefits, it will take a long time for state economies to fully recover. That’s especially true in states that depend heavily on the industries that were most affected by the pandemic,” said the study.
To view the full report and other state’s rank, please visit: https://wallethub.com/edu/state-economies-most-exposed-to-coronavirus/72631