Study: SC Is the State That Needs the 10th Most Financial Help Due to COVID-19

WalletHub recently released its study on the “States That Need the Most Financial Help Due to COVID-19” and South Carolina ranked as the state with the 10th most need.

To identify which states may need the most financial help due to the coronavirus crisis, WalletHub compared the 50 states across 18 key metrics. Our data set ranges from the state’s rainy-day funds and debt per capita to the share of the workforce in highly-affected industries. Below, you can see highlights from the report, along with a WalletHub Q&A.

Financial Need in South Carolina (1=Most, 25=Avg.):

• 13^th – State Rainy-Day Funds per Capita
• 17^th – Unfunded Pension Liabilities as Share of GSP
• 10^th – Unemployment Claims Increase Since the Beginning of the COVID-19 Pandemic
• 23^rd – GDP Generated by Highly Affected Industries as Share of Total State GDP
• 13^th – State Preparedness for Severe Recession

To see the full report, click here.

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