Home Managing Money How to Earn Money
MoneyGeek By MoneyGeek

As the United States battles the coronavirus, states must grapple with the pandemic’s astounding economic impacts. States that have taken aggressive actions to contain the virus have also been hit hard economically; the bet is that short-term pain will lead to longer-term, sustainable recovery. In the worst cases, states have both paid the price for strict controls and faced rising case counts due to quarantine fatigue.

According to Megan Greene of the Harvard Kennedy School, a key variable for recovery is "how comfortable people feel going out and spending money."

Consumers who have lost their jobs or feel at risk will be more cautious in their spending. They may face difficulty accessing credit or refinancing existing loans, further slowing consumer spending. Zero-interest credit cards and balance transfers to lower-interest cards may provide temporary relief but may cause downstream challenges if unemployment persists.

Ultimately, state economic outlooks are tied to virus control. "I don't think there is a balance between the economic recovery and pursuing public health goals — we will not have the former without the latter," says Greene.

These are the states that have been recovering the most jobs that were lost to COVID-19.

25. Alaska

Ketchikan, Alaska. Creek Street, the historic broadwalk.
emperorcosar / Shutterstock

Percentage of recovered jobs compared to February 2020: 5.98%

  • Jobs recovered from state's lowest level to June: 19,090
  • Total lost jobs from February 2020 to lowest level: 30,622
  • Percentage of lost jobs recovered: 62.34%

24. Oregon

Portland, Oregon, USA skyline at dusk with Mt. Hood in the distance.
Sean Pavone / Shutterstock

Percentage of recovered jobs compared to February 2020: 6.20%

  • Jobs recovered from state's lowest level to June: 125,350
  • Total lost jobs from February 2020 to lowest level: 232,095
  • Percentage of lost jobs recovered: 54.01%

23. Kentucky

Mare with her colt on pastures of horse farms. Country summer landscape.
Irina Mos / Shutterstock

Percentage of recovered jobs compared to February 2020: 6.82%

  • Jobs recovered from state's lowest level to June: 135,202
  • Total lost jobs from February 2020 to lowest level: 260,631
  • Percentage of lost jobs recovered: 51.87%

22. North Carolina

North Carolina Outer Banks Bodie Island Lighthouse Autumn Morning Marsh Boardwalk
MarkVanDykePhotography / Shutterstock

Percentage of recovered jobs compared to February 2020: 6.91%

  • Jobs recovered from state's lowest level to June: 341,101
  • Total lost jobs from February 2020 to lowest level: 836,057
  • Percentage of lost jobs recovered: 40.80%

21. South Carolina

Historical downtown area of Charleston, South Carolina, USA at twilight.
f11photo / Shutterstock

Percentage of recovered jobs compared to February 2020: 7.00%

  • Jobs recovered from state's lowest level to June: 162,567
  • Total lost jobs from February 2020 to lowest level: 242,691
  • Percentage of lost jobs recovered: 66.99%

20. Washington

View of downtown Seattle skyline in Seattle Washington, USA
f11photo / Shutterstock

Percentage of recovered jobs compared to February 2020: 7.01%

  • Jobs recovered from state's lowest level to June: 267,222
  • Total lost jobs from February 2020 to lowest level: 499,211
  • Percentage of lost jobs recovered: 53.53%

19. Wisconsin

Agriculture and rural life at winter background.Scenic winter view at Wisconsin, Midwest USA, Madison area.
MarynaG / Shutterstock

Percentage of recovered jobs compared to February 2020: 7.13%

  • Jobs recovered from state's lowest level to June: 211,984
  • Total lost jobs from February 2020 to lowest level: 353,211
  • Percentage of lost jobs recovered: 60.02%

18. Mississippi

A pusher boat in the Mississippi River near the Vicksburg Bridge in Vicksburg, Mississippi, USA.
Peek Creative Collective / Shutterstock

Percentage of recovered jobs compared to February 2020: 7.27%

  • Jobs recovered from state's lowest level to June: 87,140
  • Total lost jobs from February 2020 to lowest level: 191,910
  • Percentage of lost jobs recovered: 45.41%

17. Vermont

Panoramic view of Topsham village in Vermont
SNEHIT PHOTO / Shutterstock

Percentage of recovered jobs compared to February 2020: 7.28%

  • Jobs recovered from state's lowest level to June: 23,974
  • Total lost jobs from February 2020 to lowest level: 39,827
  • Percentage of lost jobs recovered: 60.20%

16. Hawaii

Hawaii panoramic Honolulu city travel landscape banner background of Waikiki beach and Diamond Head mountain peak at sunset, Oahu island, USA vacation.
Maridav / Shutterstock

Percentage of recovered jobs compared to February 2020: 7.35%

  • Jobs recovered from state's lowest level to June: 47,849
  • Total lost jobs from February 2020 to lowest level: 172,851
  • Percentage of lost jobs recovered: 27.68%

15. Delaware

Aerial view of Delaware Memorial Bridge at dusk. The Delaware Memorial Bridge is a set of twin suspension bridges crossing the Delaware River between the states of Delaware and New Jersey
Mihai_Andritoiu / Shutterstock

Percentage of recovered jobs compared to February 2020: 7.41%

  • Jobs recovered from state's lowest level to June: 34,734
  • Total lost jobs from February 2020 to lowest level: 74,120
  • Percentage of lost jobs recovered: 46.86%

14. Louisiana

New Orleans, Louisiana, USA street cars.
Sean Pavone / Shutterstock

Percentage of recovered jobs compared to February 2020: 8.00%

  • Jobs recovered from state's lowest level to June: 160,638
  • Total lost jobs from February 2020 to lowest level: 357,522
  • Percentage of lost jobs recovered: 44.93%

13. Oklahoma

Summertime Roadtrip, Side Road off of Route 66, Oklahoma
Danneellah / Shutterstock

Percentage of recovered jobs compared to February 2020: 8.07%

  • Jobs recovered from state's lowest level to June: 143,657
  • Total lost jobs from February 2020 to lowest level: 265,454
  • Percentage of lost jobs recovered: 54.12%

12. Maine

Aerial view of Bar Harbor, Maine. Bar Harbor is a town on Mount Desert Island in Hancock County, Maine and a popular tourist destination.
Mihai_Andritoiu / Shutterstock

Percentage of recovered jobs compared to February 2020: 8.15%

  • Jobs recovered from state's lowest level to June: 53,640
  • Total lost jobs from February 2020 to lowest level: 76,649
  • Percentage of lost jobs recovered: 69.98%

11. Illinois

Chicago skyline reflected in Buckingham Fountain. Chicago, Illinois, USA.
Henryk Sadura / Shutterstock

Percentage of recovered jobs compared to February 2020: 8.70%

  • Jobs recovered from state's lowest level to June: 531,695
  • Total lost jobs from February 2020 to lowest level: 1,043,253
  • Percentage of lost jobs recovered: 50.97%

10. Idaho

Boise Idaho street leading to the capital building in fall
Charles Knowles / Shutterstock

Percentage of recovered jobs compared to February 2020: 9.00%

  • Jobs recovered from state's lowest level to June: 77,774
  • Total lost jobs from February 2020 to lowest level: 87,222
  • Percentage of lost jobs recovered: 89.17%

9. Montana

American bison (Bison bison) bull in tall grass short-grass prairie, American Prairie Reserve, Eastern Montana, USA
Robert Mutch / Shutterstock

Percentage of recovered jobs compared to February 2020: 9.36%

  • Jobs recovered from state's lowest level to June: 48,007
  • Total lost jobs from February 2020 to lowest level: 56,300
  • Percentage of lost jobs recovered: 85.27%

8. Ohio

A Cleveland sign, one of three in the city, overlooking downtown from the near west side
Kenneth Sponsler / Shutterstock

Percentage of recovered jobs compared to February 2020: 9.42%

  • Jobs recovered from state's lowest level to June: 523,598
  • Total lost jobs from February 2020 to lowest level: 884,800
  • Percentage of lost jobs recovered: 59.18%

7. Utah

Evening light over North Window with Turret Arch in the distance, Arches National Park Utah
anthony heflin / Shutterstock

Percentage of recovered jobs compared to February 2020: 9.62%

  • Jobs recovered from state's lowest level to June: 152,917
  • Total lost jobs from February 2020 to lowest level: 160,796
  • Percentage of lost jobs recovered: 95.10%

6. Texas

Dallas City, Texas
Tavarius / Shutterstock

Percentage of recovered jobs compared to February 2020: 9.82%

  • Jobs recovered from state's lowest level to June: 1,353,280
  • Total lost jobs from February 2020 to lowest level: 2,515,686
  • Percentage of lost jobs recovered: 53.79%

5. New Hampshire

Mount Crawford White Mountains New Hampshire
Cole Stecyk / Shutterstock

Percentage of recovered jobs compared to February 2020: 10.02%

  • Jobs recovered from state's lowest level to June: 75,796
  • Total lost jobs from February 2020 to lowest level: 165,579
  • Percentage of lost jobs recovered: 45.78%

4. Rhode Island

Van Zant Pier after a rainstorm in Newport, Rhode Island.
Olga Enger / Shutterstock

Percentage of recovered jobs compared to February 2020: 10.47%

  • Jobs recovered from state's lowest level to June: 56,145
  • Total lost jobs from February 2020 to lowest level: 106,383
  • Percentage of lost jobs recovered: 52.78%

3. Indiana

Downtown Indianapolis skyline at twilight
f11photo / Shutterstock

Percentage of recovered jobs compared to February 2020: 11.50%

  • Jobs recovered from state's lowest level to June: 377,256
  • Total lost jobs from February 2020 to lowest level: 606,597
  • Percentage of lost jobs recovered: 62.19%

2. Michigan

Detroit is a major City and Urban Center in Michigan
Jacob Boomsma / Shutterstock

Percentage of recovered jobs compared to February 2020: 16.20%

  • Jobs recovered from state's lowest level to June: 773,320
  • Total lost jobs from February 2020 to lowest level: 1,296,945
  • Percentage of lost jobs recovered: 59.63%

1. Nevada

Welcome to Never Sleep city Las Vegas, Nevada Sign with the heart of Las Vegas scene in the background. (all logo had been removed).
Sky Sajjaphot / Shutterstock

Percentage of recovered jobs compared to February 2020: 18.23%

  • Jobs recovered from state's lowest level to June: 275,868
  • Total lost jobs from February 2020 to lowest level: 516,607
  • Percentage of lost jobs recovered: 53.40%
About the Author

Deb Gordon is a writer for MoneyGeek and the author of "The Health Care Consumer's Manifesto (Praeger 2020)" about consumer markets in health care based on research she conducted as a senior fellow in the Harvard Kennedy School's Mossavar-Rahmani Center for Business and Government. She previously held executive roles in health care companies. She has published in the Harvard Business Review blog, USA Today, RealClear Politics and TheHill. Deb is an Aspen Institute Health Innovators Fellow, an Eisenhower Fellow, a former Boston Business Journal 40-under-40 honoree and a volunteer in MIT's Delta V start-up accelerator. She earned a B.A. in bioethics from Brown University and an MBA with distinction from Harvard Business School.

Sources

About the Author

MoneyGeek

MoneyGeek

MoneyGeek Editorial Team

You May Also Like

Take a Break From Your Debt This Month

Let debt consolidation give you a break.

By Shane Murphy

Trump Says V, Biden Says K: The Economic Recovery Shapes Explained

The candidates see the economy's comeback in terms of different letters.

By Shane Murphy

What to Do When Your Term Life Insurance Expires

It’s time to assess your new needs — and whether you still need a policy at all.

By Ethan Rotberg

When Is The Best Time of Year to Sell Your House?

If you want to sell fast for a high price, take a look at what the data says.

By Ethan Rotberg