There are now five states -- California, New York, Florida, Texas and Georgia – that have processed more than 2 million initial claims for unemployment benefits since the outbreak of the coronavirus in March. Six states have registered 1 million or more newly unemployed people and 13 have added at least a ... READ MORE >
Search Results for: coronavirus
Home construction collapses under coronavirus lockdown
Housing starts plummeted 30.5% to an annualized rate of 891,000 in April as the full weight of the coronavirus lockdowns hit the sector, the Commerce Department reported on Tuesday. The plunge extended to permits to build, which dropped to an annualized rate of 1,074,000, representing a 20.8% ... READ MORE >
Modeling the spread of the coronavirus: Another difficult milestone
The coronavirus outbreak continues its relentless spread from population centers on the coasts to the center of the country, even as newly reported cases overall decline. As the three figures below indicate, the number of new cases in the United States has dropped from a peak of 32,000 per day on April ... READ MORE >
Initial jobless claims, state by state: 11 now have a million or more claims since coronavirus outbreak
There are now 11 states with a million or more newly unemployed people and 11 other states with at least a half-million added to the unemployment rolls. That brings the total to 36.5 million claims of newly unemployed persons processed by the state employment agencies in the eight weeks since the outbreak ... READ MORE >
A bright spot amid the economic wreckage of coronavirus: apartment rental payments
While many businesses remain closed and the country experiences record levels of unemployment, apartment owners can take some solace that tenants are still making their rent payments. On Friday, the National Multifamily Housing Council released its Rent Payment Tracker, and reported that 80.2% of ... READ MORE >
Jobless claims, state by state: Eight have a million or more since the coronavirus outbreak
Initial filings for unemployment benefits increased by 3.2 million newly unemployed people during the week ending May 2. That means that a cumulative 33.5 million claims of newly unemployed people have been processed by the state agencies in the seven weeks since the economies of most states were shut ... READ MORE >
New data on spread of coronavirus shows need for caution on relaxing restrictions
After a two-week period of fewer cases of the coronavirus, Americans are moving gingerly toward a resumption of normal social and professional activity. The next few weeks will be instructive as to the logic of reopening the economy, new infections and rising deaths. This week, newly reported cases of ... READ MORE >
Amid chaos of coronavirus, food and beverage sector continues to adapt
The retail sales figures released this week painted a grim picture of consumer spending and the state of the economy amid the mounting human and economic toll of the coronavirus. But a deeper look at the data reveals some profound changes taking place that will most likely endure once the pandemic ... READ MORE >
How business development companies can weather the coronavirus downturn
The coronavirus pandemic has taken a severe toll on the American economy, with small and midsize businesses being hit especially hard. It’s not surprising, then, that the stock prices of business development companies, which invest in small and midsize companies along with distressed enterprises, have ... READ MORE >
When to reopen the economy? Beware of a false optimism surrounding coronavirus.
The outbreak of the coronavirus surpassed 450,000 reported cases of infection and 1,900 deaths per day in the United States. Our RSM model of the Covid-19 spread extrapolates a half million infections and more than 15,000 deaths by this coming weekend. As the federal government gears up for a debate on ... READ MORE >