In Texas, latest COVID-19 wave could cost 72,000 jobs, study finds

The recent upsurge in COVID-19 cases in Texas is hitting the state economically as well as in terms of lives lost, a new study concludes.

The Perryman Group, an economic research and analysis firm in Waco, Texas, estimates that the state's failure to contain the disease has led to nearly 72,000 job losses and an annualized decline in output of more than $13 billion. On average, the state loses roughly $187,000 for every employee who is unable to return to work because of the pandemic, the firm found. "Despite these concerns, there has been massive resistance by policymakers to sensible and basic protective measures, such as appropriate masking requirements and measures to encourage higher vaccination rates," the firm said in the report. "In addition to these obvious consequences, this approach is also resulting in preventable losses to the economy through reduced employment and decreases in productivity."