South Dakota’s Economy Will Be Better off Than Most
In the past few weeks, our nation's economy has taken the most drastic turn since the Great Depression, which started with the stock market crash of 1929. Some recent estimates even see unemployment climbing as high as 32 percent in the weeks and months to come. Some states will fare better than others though, and according to a recent study South Dakota is one of those states.
According to a study released yesterday by Wallethub, South Dakota ranks among the least effected states in the country, in terms of how badly the Cornonavirus and its impact will effect its economy. Take a look at the list below:
|States with Most Exposed Economies||States with Least Exposed Economies|
|1. Louisiana||42. Arkansas|
|2. Rhode Island||43. Nebraska|
|3. Nevada||44. Alabama|
|4. Maine||45. South Dakota|
|5. New Hampshire||46. Wyoming|
|6. Pennsylvania||47. Utah|
|8. New Jersey||49. Alaska|
|9. Massachusetts||50. California|
|10. Illinois||51. Georgia|
According to the study, there are many reasons for this, but the state ranked well in two main categories: 1) High Impact Industries and Resources and 2) Resources To Help Businesses To Cope With The Crisis.
Obviously this doesn't mean the economy in the Mount Rushmore state won't take a hit. But it does provide a bit of comfort in these trying times.