Unemployment claims continue downward trajectory
Baton Rouge, La. (October 13, 2020) – The Baton Rouge Area Chamber (BRAC) today released its COVID-19 economic indicator dashboard that examines and assesses the impact of the COVID-19 pandemic on the regional economy. The dashboard is available online at brac.org/recovery.
“Although people are reentering the workforce and returning to in-person work, other indicators show a stagnation in recovery and strong evidence of more cautious behavior: fewer people going to work in-person, traveling to recreational activities, or traveling out-of-market,” said Andrew Fitzgerald, senior director of business intelligence for BRAC. “This behavior will cause metrics like fuel sales to remain slightly below 2019 numbers, but will likely have a positive impact long-term, as it mitigates the spread of COVID.”
Key findings from this week’s dashboard include:
- Weekly combined unemployment claims fell sharply over the week, the eleventh consecutive week of a drop. Claims are down 46% in that timeframe;
- Retail fuel sales for the region were flat, just below 2019 sales for the same week;
- Hotel occupancy rates were also flat for this week over-the-year, although revenues were lower, indicating a lower price per room rented; and
- Mobility data showed that travel to work was down slightly over the week, and CATS ridership continues to be less than half of what it was for the same week last year.
The dashboard looks at a number of data points to illustrate the economy’s current state. With data from a number of regional stakeholders, the dashboard is the most real-time analysis of the Baton Rouge metro economy available.
To download this week’s indicator dashboard directly, click here.
BRAC is regularly updating brac.org/recovery with business resources and guidance related to COVID-19.
About the Baton Rouge Area Chamber
The Baton Rouge Area Chamber (BRAC) leads economic development in the nine-parish Baton Rouge Area, working to grow jobs and wealth and to improve the business climate and competitiveness in the region. Today, BRAC investors include more than 1,400 small businesses, mid-sized firms, large industry and entrepreneurial startups, as well as individuals and organizations that support business and economic development. In this capacity, BRAC serves as the voice of the business community, providing knowledge, access, services and advocacy. More information is available at brac.org.