The Regional Breakdown Of A Labor Market In Meltdown

By: Taro Chellaram /Wells Fargo Economics & Financial Report/May 26, 2020

The Regional Breakdown Of A Labor Market In Meltdown

With 20.5 Million Job Losses, There is Nowhere to Hide 

  • There was no escaping the economic carnage resulting from the shutdowns implemented in March and April to contain  COVID-19.  All 50 states posted significant job losses in April.
  • The leisure & hospitality sector accounted for the largest share of job losses, with employment down around 45% in most states. Parts of the country with out sized tourist sectors, like Nevada, Hawaii and Florida, saw some of the nation’s largest job losses.



This Week's State Of The Economy - What Is Ahead? - 30 July 2021

Despite a few misses on the headline numbers, economic data this week highlighted a theme of demand continuing to outstrip supply and ongoing slack in the labor market.

This Week's State Of The Economy - What Is Ahead? - 04 June 2021

The CDC\'s relaxation of its mask mandate occurred mid-May, and as data for that month begins rolling in this week, it is evident there is no lack of demand. Supplies, on the other hand, are a worsening problem.

This Week's State Of The Economy - What Is Ahead? - 23 April 2021

This week\'s lighter economic calendar allowed forecasters more time to assess the implications from the prior week\'s blowout retail sales report.

This Week's State Of The Economy - What Is Ahead? - 07 August 2020

There were more signs of global recovery this week and PMI surveys improved further across the world.

This Week's State Of The Economy - What Is Ahead? - 03 January 2020

Markets were also pressured from the latest ISM manufacturing report, which signaled further deterioration in the sector with the index falling to its lowest level since 2009.

This Week's State Of The Economy - What Is Ahead? - 14 October 2020

The global mobility playing field is equalizing. Major European countries such as Germany and France have seen a slowdown in recent weeks, leaving them right in line with the United States relative to the January baseline.

This Week's State Of The Economy - What Is Ahead? - 10 November 2020

The U.S. election has come and gone, but we have not made any meaningful changes to our economic outlook, which continues to look for further expansion in the U.S. economy in coming quarters.

28 January 2021 Economic Outlook Report

In our recently released second report in this series of economic risks, we focused on the potential of demand-side factors to lead to significantly higher U.S. inflation in the next few years.

This Week's State Of The Economy - What Is Ahead? - 13 May 2022

While small business enthusiasm appears to have stalled, as owners are concerned about their ability to continue to pass on higher costs to consumers, cautious enthusiasm around rookie Jeremy Pena’s start persists.

This Week's State Of The Economy - What Is Ahead? - 21 May 2021

Over the past year, the housing market has become white-hot.


Instagram

@ tcgcrealestate

Subscribe Now! IT's Free

Stay up to date with all news coming straight in your mailbox.

Copyright © 2023 TC Global Commercial. All rights reserved.