ATLANTA — While iconic state employers like Delta might be feeling the harsh effects of the coronavirus outbreak's impact on the economy, an analysis suggests Georgia is better positioned than any other state to weather the storm.
The analysis, by the financial research website WalletHub, names the Peach State economy the single least-exposed to the downturn of any state in the country.
The analysis used two main rankings - a state's share of "high impact industries and workforce" (think the restaurant and retail industries, things that have closed during the outbreak) and its "resources for businesses to cope better with the crisis."
Georgia ranked, by far, as the state least exposed to the high impact industries getting shuttered by stay-at-home and shelter-in-place orders across the country, and solidly toward the top in terms of business resources.
According to the study's methodology, these industries were considered "high impact":
- Accommodation and food services
- Arts, entertainment, and recreation
- Retail trade
- Mining, quarrying, and oil and gas extraction
- Educational services
- Real estate, rental and leasing
- Other services, except government and government enterprises
Georgia's share of state GDP from those industries was broadly found to be smaller than most other states, almost across the board. Its share of employment in impacted industries did rank inside the top-20 among states, particularly in sectors such as transportation and employment services.
According to the analysis, Georgia was especially well-positioned as one of the states best prepared for a digital economy and among those with the lowest share of employment from small businesses, which have been hit hard by widespread closures.
The Peach State also had the second-lowest spike in new unemployment claims in the country, according to the analysis.
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