Continued unemployment claims hit lowest level since March 28
Baton Rouge, La. (October 27, 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.
“The Capital Region economy continues to recover, although there is still a lag for low wage jobs, potentially due to Phase III reopening limitations and the reluctance of consumers to fully return to pre-COVID behaviors,” said Andrew Fitzgerald, senior director of business intelligence for BRAC. “Because of uncertainty regarding if and when these jobs return, it is important to provide opportunities for displaced workers to upskill for jobs that have shown resilience during the pandemic. Materials such as BRAC’s Short-Term Training Resource Guide can highlight these pathways to high-demand, high-wage jobs.”
Key findings from this week’s dashboard include:
- Continued claims were down more than 11% over the week and fell in every Capital Region parish. This is the lowest number of claims since March 28;
- Retail fuel sales were higher over-the-year for both the state and the region, and have now trended positively since the Spring;
- Although low wage jobs rose slightly in the new week of data, they still remain down 17%, while middle wage jobs are down 4%, and high wage jobs are actually up 1% from pre-pandemic numbers;
- Hotel occupancy was much higher last week than on the same week in 2019, and revenues were up more than 50% over-the-year;
- While mobile data shows that more people are going to work than in previous weeks, travel to retail stores and recreational facilities is lower.
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.