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There were more than 30,000 individuals out of work but actively seeking work within the Louisville region in March. Even so, we are hearing from employers that they are unable to fill open positions and are scrambling to find workers. What is causing the disconnect between the unemployed and available job openings?
The economic fallout of the COVID-19 pandemic has reverberated throughout the world. The Louisville region’s economy has also suffered as people and businesses reacted to the public health crisis.
In this post, we review the data from throughout 2020 to see the economic impact in the local economy. The recovery since the depths of the pandemic has been uneven across sectors and unequal for different workers.
The unemployment rate is an important metric for tracking the health of the labor market. It is published by the Bureau of Labor Statistics on a monthly basis.
The unemployment rate for June was recently released, and seems to be showing signs that the local economy is improving. But a closer look at the data reveals that the economic fallout of the pandemic is still in motion.
Economic conditions in the United States have changed at an unprecedented rate in the last 90 days due to the COVID-19 pandemic, going from record-low unemployment rates to record-highs in just a few months. The closure of non-essential businesses and dramatic declines in consumer spending have left millions of workers jobless. New data released Wednesday from the Bureau of Labor Statistics sheds light on how the Louisville metropolitan region’s economy has been impacted by the coronavirus pandemic. The data reveals the local economic conditions in mid-April, at the height of the pandemic.
