ATLANTA (CBS46)—COVID-19 has caused massive unemployment and business closures throughout the country.
A study looked at what states so far has experienced the best economy.
According to the study, Georgia came in the Top 10 states seeing the best economic recovery since the COVID-19 pandemic.
The study, completed by LendingTree, analyzed five economic metrics: consumer spending, the number of open small businesses, small business revenue, job postings, and unemployment rate to find the states that are closest to seeing pre-pandemic economic conditions.
Georgia, the study noted, came in 7th among states seeing the best economic recovery.
The LendingTree study noted:
• Georgia is 7th among states that are closest to seeing pre-pandemic economic conditions: Consumer spending is just 1.6% below January, and new job postings are 8.9% below January levels.
• Idaho’s economy has gotten the closest to reaching pre-pandemic levels. Small business revenue in August was just 5% below January levels, while the August unemployment rate in the state was only 1.4 percentage points above what it was in January.
• Nevada is the state with the worst economic recovery. The state’s unemployment rate was 9.6 percentage points higher than in January. Many of those workers will struggle to find work, as job postings were 30.3% below January levels.
• Overall, no state has returned to pre-pandemic levels in any of the categories outside of a few states that saw consumer spending levels return.
You can view the full analysis here: Economic Recovery Amid Coronavirus