Economic Impact of COVID-19

In addition to its health impact, COVID-19 is leading to unprecedented economic disruption.  On this page we collect pieces by CROWE researchers tracking and analyzing the economic impact of COVID-19 in Wisconsin and around the world. 

Air-Traffic Data  Chinese Economy  Foot-Traffic Data  WI Workers & Firms   Workers Most at Risk Economically
Unemployment benefits  Forecasting Unemployment Claims  Growth of Unemployment Claims

CROWE in the media

Updated April 9, 2020

The aviation sector is among the sectors most heavily affected by the COVID-19 pandemic. This brief uses real-time data to track the decline in flights and passengers at a daily frequency in Wisconsin and beyond since the introduction of broad social distancing measures in mid-March of 2020. Simeon Alder, 8 April, 2020
Overall, many different indicators in the Chinese economy showed declines of 20% or more, and 30% or more relative to their pre-crisis trends, during the peak crisis month of February 2020, with substantial variation across regions and industries. Chang Liu, April 6, 2020
Foot traffic data shows an overall decline of over 50% in economic activity in Wisconsin in the last week in March (compared to a year earlier), with industries like restaurants seeing even larger declines. Noah Williams, 8 April, 2020
Hotel foot traffic in Wisconsin started declining in early March 2020 and plummeted as the COVID crisis worsened until flattening out late in the month. Grocery stores have seen strong activity overall with some spikes in demand. Noah Williams, 8 April, 2020
Wisconsin initial unemployment claims, daily, Kim Ruhl, 7 April, 2020
Wisconsin initial unemployment claims, weekly, Kim Ruhl, 7 April, 2020
Estimated Wisconsin unemployment rate, daily, Kim Ruhl, 7 April, 2020
Market capitalization of Wisconsin public firms, Kim Ruhl, 7 April, 2020
Under the new federal law, unemployment benefits would exceed 115% of wages on average across states, and would be much higher in some states. Noah Williams, March 27, 2020
10-30% of Workers Would be At Risk Economically When Ordered To Stay At Home, Junjie Guo, March 26, 2020
Google searches predict that initial unemployment claims will skyrocket to 1.6 million (more than double the previous record high) this week, Noah Williams, March 23, 2020
Initial UI claims increase more in states with more confirmed cases of COVID-19, Junjie Guo, March 23, 2020