New data released by IAAPA shows U.S. theme parks and their employees have taken a massive financial hit this year, saying the Covid crisis has led to a 40% decline in economic output and a 40% reduction in industry jobs.

IAAPA estimates theme parks suffered $18 billion in Covid-related economic losses in 2020, according to the Orange County Register. While many theme parks have reopened, some of the biggest – many in Southern California – have not.

Theme parks that have reopened are reducing employee hours, cutting weekly operating days and continuing to trim positions and make layoffs. An IAAPA survey in April found that 59% of employees in the theme park industry had been terminated or furloughed without pay following the initial lockdown. The 40% number today shows that majority of those jobs haven’t come back yet.