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

Seasonally adjusted initial unemployment claims were 742,000 for the week ending November 14, an increase of 31,000 from the previous week’s revised level. The insured unemployment rate was 4.3% for the week ending November 7, a decrease of 0.3% from the previous week’s unrevised 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 1,545,000 in October, virtually unchanged from the revised rate for the previous month, but 2.8% above October 2019. Housing starts rose 4.9% from September and were up 14.2% from October 2019. Housing completions fell 4.5% in October from the revised September estimate but were 5.4% above October 2019.
Seasonally adjusted distributive trade sales and manufacturers’ shipments were estimated at $1,465.1 billion in September, an increase of 0.6% from August and 0.8% from September 2019.
Seasonal advanced estimates of retail and food service sales for October were $553.3 billion, an increase of 0.3% from September and up 5.7% from October 2019. Retail sales were up 0.3% from September and 8.5% from October 2019, led by non-store retailer sales, which rose 29.1% from October 2019. Food services and drinking places sales were down 0.1% from September and 14.2% from October 2019.
Seasonally adjusted sales for merchant wholesalers were $486.0 billion in September, a 0.1% increase from the revised level for August, but a 2.3% decrease from September 2019. Wholesale sales of durable goods rose 0.7% in September compared to August, while sales of nondurable goods fell 0.5%.

Seasonally adjusted initial unemployment claims were 751,000 for the week ending October 31, a decrease of 7,000 from the previous week’s revised level. The insured unemployment rate was 5.0% for the week ending October 24, a decrease of 0.3% from the previous week’s unrevised rate.

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