The coronavirus pandemic has had a devastating impact on the U.S. economy, not only through the initial shutdowns and associated layoffs, but also through ongoing and evident disruption in sectors like the hospitality industry, events, entertainment, arts and more.
In addition to the ongoing restrictions to control the spread of COVID-19, the national unemployment rate for July was 10.2% and Congress was unable to reach an agreement to pass a second stimulus package before the benefits of the first do not end. So all of this to say that many Americans are struggling to make ends meet financially right now.
Financial site WalletHub conducted a study to find out where in the United States economic pressure from the pandemic appears to be hit the hardest, comparing “internal data from credit reports with data on the increase in Google search for three loan terms “.
“Greater interest in obtaining a loan indicates that more people in the state are struggling to make ends meet. It also implies that state public assistance programs may be in greater demand in the country. the near future, and that the state could experience a deeper recession than the others. will, ”says WalletHub.
According to their results, Ohio ranks # 10 for the states where people need loans the most due to the coronavirus, based on our interest in loans on Google, payday loans, home equity loans. and the average change in the number of requests from January to July for those researched.
The top 10 states where people need loans the most, according to the study, are:
1. New York