These States Could Be Hit With The Biggest Job Losses From The Coronavirus Pandemic

Pedestrians walk past a boarded up Lori's Diner in San Francisco, California, U.S., on Tuesday, March 24, 2020.

David Paul Morris | Bloomberg | Getty Images

When the coronavirus pandemic eventually subsides, the economic impact will be felt unevenly from one part of the country to another.

The regions feeling the biggest impact may also see the fastest growth when they recover, according to an analysis Wednesday from IHS Markit

"The states and metros hit hardest will generally be among the fastest growing over the ensuing recovery as activity that fell most sharply during the downturn has the greatest room for growth as conditions normalize,"  IHS Markit economist Karl Kuykendall wrote in the report.

The latest figures from the government on national job losses are scheduled to be released Friday. It will take another two weeks before state level numbers are available.

States that rely heavily on tourism have already taken a big hit, including Florida and Nevada, where the IHS Markit analysis sees employment falling by 9.8% and 7.9%, respectively, by the end of this year.

In the Midwest and Northeast, states that rely on manufacturing will be hurt most by plant shutdowns. Energy-reliant states like Texas, North Dakota, New Mexico, Oklahoma and Alaska are also especially vulnerable after a steep plunge in oil prices as demand has fallen.

However, rural states like South Dakota, Nebraska and Iowa will likely fare better than most, according to the HIS Markit analysis, because they are home to fewer of the industries hurt most by the pandemic.

Here are state by state job loss projections from the analysis:

RECENT NEWS

World Liberty Seeks Federal Trust Charter

World Liberty Financial, the crypto venture backed by the Trump family, has applied for a US national bank trust charter... Read more

Saudi Banks Tap Overseas Markets

Saudi Arabia’s banks are borrowing from international markets at their fastest pace on record, as lenders try to squar... Read more

Amazon Continues To Cut 16000 Gone

Amazon has announced plans to cut a further 16,000 roles from its corporate workforce, extending the cost and organisati... Read more

The UK May Have A Voice In Ai

Europe’s AI sector has grown accustomed to playing catch-up. Capital has flowed more slowly than in Silicon Valley, va... Read more

Musk Applies Pressure To BT

Britain’s broadband market has spent the past decade locked in a familiar pattern. Incumbents invested heavily in fibr... Read more

Blackrock Sees EMEA Moving Into Private Assets

BlackRock has warned that investors across Europe, the Middle East and Africa are reshaping portfolios in response to wh... Read more