Home Economy Report Says ‘Inadequate’ COVID Precautions Are Costing The Texas Economy

Report Says ‘Inadequate’ COVID Precautions Are Costing The Texas Economy

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From Texas Standard:

Around 54,000 Texans have died from COVID-19 so far, and the ripple effects of that loss will spread for years to come. But there have been economic effects, too, and they’ve been exacerbated by the recent surge of the delta variant of the coronavirus.

Ray Perryman, an economist and CEO of the Perryman Group in Waco, found Texas stands to lose billions if it doesn’t take certain measures to help people get back to work and school safely. He forecasts those potential losses in a new report, “Masked! The Hidden and Preventable Losses to the Texas Economy Associated with Inadequate Protective Measures for COVID-19.”

What’s at stake, he told Texas Standard, are losses of an average of $63,000 per year for employers, for each employee who can’t come to work because of the pandemic. The downstream effects of that unemployment are even greater. He calculates Texas stands to lose about $180,000 per…

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