A coronavirus recession would likely hit Midland harder than any other metro area in the United States, according to a Brookings Institution study.
The report looked at sectors that are most vulnerable to an economic downturn. Midland’s oil and gas-fueled industry edged just ahead of three tourism locales and was rated first with 42 percent of its workforce of over 46,000 at risk. Two other Texas cities were ranked in the Top 10 with neighboring Odessa at No. 5 and Laredo at No. 6.
Brookings reports more than 24 million jobs are at risk nationwide.
The five most vulnerable sectors were oil and gas/mining, transportation, employment services, travel arrangement and leisure and hospitality. Agricultural communities and cities with heavy manufacturing appear to be at the other end of the spectrum. Brookings found most sectors would be impacted should the pandemic lead to a recession and it would be important for policy-makers to act quickly.