BRAC’s May 13 COVID Brief: BRAC’s Economic Indicator Dashboard

BRAC’s Economic Indicator Dashboard examines and assesses the impact of COVID-19 on the regional economy, taking into account a number of data points to illustrate the economy’s current state, and to keep businesses informed as it rebounds. The dashboard is released monthly. Past dashboards are archived on brac.org/recovery.
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Key findings from this month’s dashboard include:Number of jobs in the region remained relatively flat from February to March, with a projected 300 jobs lost overall;Construction remains the only sector with double-digit percentage job loss, down 12.4% of its jobs from pre-pandemic, which translates to 5,900 lost jobs in total;The Capital Region saw a drop in weekly unemployment claims for the second consecutive week to 10,187 claims, which is still notably above the 2021 low of 7,898 claims in late March;Consumer spending in the three largest parishes was above pre-pandemic levels;Hotel occupancy is higher than the same week in 2019, while revenues are almost identical, indicating that travel to the region has picked up considerably since 2020.
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