Economic Impacts of Coronavirus (COVID-19)

The economic impact of coronavirus and the subsequent quarantine and shut-downs is still widely debated. As data is being made available from various resources, we can start to see trends and evidence of widespread and varied impacts.
Our research team continues to update this page as government data becomes available for various key economic performance indicators. We will continue to replace dated data with newly available updates in real time.

How The Economy Is Affected

Seasonal advanced estimates of retail and food service sales for January were $568.2 billion, an increase of 5.3% from December and 7.4% from January 2020. Retail sales were up 5.1% from December and 10.8% from January 2020, led by non-store retailer sales, which rose 28.7% from January 2020. Food services and drinking places sales were up 6.9% from December, but down 16.6% from January 2020.

Seasonally adjusted initial unemployment claims were 793,000 for the week ending February 6, a decrease of 19,000 from the previous week’s revised level, which was increased by 33,000. The insured unemployment rate was 3.2% for the week ending January 30, a decrease of 0.1% from the previous week’s revised rate.

Read More: https://www.dol.gov/ui/data.pdf

Seasonally adjusted sales for merchant wholesalers were $503.8 billion in December, a 1.2% increase from the revised level for November and a 1.7% increase from December 2019. Wholesale sales of durable goods rose 0.4% in December compared to November, while sales of nondurable goods rose 2.1%.

Seasonally adjusted initial unemployment claims were 779,000 for the week ending January 30, a decrease of 33,000 from the previous week’s revised level. The insured unemployment rate was 3.2% for the week ending January 23, a decrease of 0.2% from the previous week’s unrevised rate.

Read More: https://www.dol.gov/ui/data.pdf

The seasonally adjusted total value of construction put in place rose 1.0% in December from the revised level for November, and was up 5.7% from a year ago. Private residential construction value rose 3.1% from November and was up 20.7% from a year ago.  Nonresidential private construction fell 0.8% in December from the previous month and was down 4.8% from a year ago.

Read More: https://www.census.gov/construction/c30/pdf/totsa.pdf

Seasonally adjusted initial unemployment claims were 847,000 for the week ending January 23, a decrease of 67,000 from the previous week’s revised level. The insured unemployment rate was 3.4% for the week ending January 16, a decrease of 0.1% from the previous week’s revised rate.

Read More: https://www.dol.gov/ui/data.pdf

Seasonally adjusted initial unemployment claims were 900,000 for the week ending January 16, a decrease of 26,000 from the previous week’s revised level. The insured unemployment rate was 3.6% for the week ending January 9, unchanged from the previous week’s revised rate.

Read More: https://www.dol.gov/ui/data.pdf

Building permits for privately-owned housing units were at a seasonally adjusted annual rate of 1,709,000 in December, a 4.5% increase from the revised rate for the previous month, and 17.3% above December 2019. Housing starts rose 5.8% from November and were up 5.2% from December 2019. Housing completions rose 15.9% in December from the revised November estimate and were 8.0% above December 2019.

Seasonally adjusted initial unemployment claims were 965,000 for the week ending January 9, an increase of 181,000 from the previous week’s revised level. The insured unemployment rate was 3.7% for the week ending January 2, an increase of 0.2% from the previous week’s unrevised rate.

Read More: https://www.dol.gov/ui/data.pdf

Seasonal advanced estimates of retail and food service sales for December were $540.9 billion, a decrease of 0.7% from November, but up 2.9% from December 2019. Retail sales were down 0.3% from November, but up 6.3% from December 2019, led by non-store retailer sales, which rose 199.2% from December 2019. Food services and drinking places sales were down 4.5% from November and 21.2% from December 2019.

The seasonally adjusted total value of construction put in place rose 0.9% in November from the revised level for October, and was up 3.8% from a year ago. Private residential construction value rose 2.6% from October and was up 16.2% from a year ago.  Nonresidential private construction fell 0.6% in November from the previous month and was down 4.7% from a year ago.

Read More: https://www.census.gov/construction/c30/pdf/totsa.pdf

Building permits for privately-owned housing units were at a seasonally adjusted annual rate of 1,639,000 in November, a 6.2% increase from the revised rate for the previous month, and 8.5% above November 2019. Housing starts rose 1.2% from October and were up 12.8% from November 2019. Housing completions fell 12.1% in November from the revised October estimate and were 4.8% below November 2019.

Seasonally adjusted initial unemployment claims were 885,000 for the week ending December 12, an increase of 23,000 from the previous week’s revised level. The insured unemployment rate was 3.8% for the week ending December 5, a decrease of 0.1% from the previous week’s unrevised rate.

Read More: https://www.dol.gov/ui/data.pdf

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