EEU Policy Brief #2
In response to the latest COVID-19 crisis, authors Ansel Schiavone, Codrina Rada, Ivan Mendieta-Muñoz and Rudi von Arnim have put together a research brief looking into the potential economic impacts of such a crisis on employment and income in Utah.
Key findings include:
- Salt Lake County has an at-risk employment share of 31.3 percent, which when multiplied
by the county’s total
labor force equates to 209,086 individuals – approximately fourteen percent of the Utah
workforce– that are either already or likely soon to be unemployed.
- If all at-risk workers were to become unemployed for a single month the total loss
income would be approximately $1.7 billion. If the crisis continues until the end of August – a
“best case scenario” by most models – Utahns previously employed in at-risk industries would see a
total loss of wage income more than $10.2 billion, approximately 5.5 percent of the state’s GDP.
Read the full policy brief: COVID-19 Crisis: Potential impact on employment and income in Utah