Illinois ranks near the top in a new study of state economies most vulnerable to the COVID-19 pandemic

Posted on April 6, 2020
Illinois ranked dead last in terms of rainy day funds as a share of state expenditures and the share of workers with access to paid sick leave. (Photo courtesy: WJBC/File)

By Illinois Radio Network

SPRINGFIELD – Illinois ranked near the top in a new study of state economies most vulnerable to the COVID-19 pandemic.

Personal finance website WalletHub said some states are better positioned economically to deal with the pandemic than others, and ranked Illinois the 10th most vulnerable.

To identify states with vulnerable economies, WalletHub compared 50 states and the District of Columbia using 10 metrics with two key dimensions – “high impact industries and workforce” and “resources for business to cope better with the crisis.”

Analyst Jill Gonzalez said two categories in particular affected Illinois in the rankings.

“Illinois right now has one of the lowest shares of workers with access to paid sick leave,” said Gonzalez. “It also has the lowest state rainy day fund in terms of its share of its state expenditures compared to any other state.”

Illinois also ranked second to last behind Connecticut for worst fiscal condition index.

The top three states in the best position to handle the pandemic economically were Georgia, California and Alaska. The three states that are most exposed were Louisiana, Rhode Island and Nevada.

Illinois Radio Network can be reached at [email protected]. 

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