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Sundry links: Coronavirus, logistics, taxes

Some interesting stories from the past few weeks: Grocers Stopped Stockpiling Food. Then Came Coronavirus. “Just-in-time purchasing has been thrown out the window.” A Coronavirus Fix That Passes the Smell Test “Here might be a free way to get a signal, out of all the noise.” Big Business Is Helping America Survive the Coronavirus “It […]

In Washington 181,975 filed for unemployment insurance last week

This morning the state Employment Security Department reported that it received 181,975 new claims for unemployment insurance during the March 22-28 week. This is an increase of 53,013 over the 128,962 (revised) claims filed during the preceding week. The four-week moving average of claims is 82,910 39, up from 38,838 for the preceding week. We […]

Nationwide, 6,648,000 filed for unemployment insurance last week

The U.S. Department of Labor issued its weekly report on initial claims for unemployment insurance this morning. Nationwide, seasonally adjusted claims were a record 6,648,000. This was more than twice the (revised) number of claims for the previous week, 3,307,000, which had been the record. The 4-week moving average of seasonally adjusted claims was 2,612,000, […]

Paycheck protection loans and startups

As the Association of Washington Business writes, small businesses may apply for the federal Paycheck Protection Program (PPP) beginning tomorrow. These forgivable loans were funded in the third federal aid bill and are meant to be used for payroll and other costs (more details here). Startups may not be eligible for these loans, according to […]

More on initial claims

Yesterday I posted a chart showing, by sector, the number of claims for unemployment insurance filed between March 1 and March 21 divided by employment in the month of February. I will call this ratio the layoff rate. The chart below is a scatter plot with sectors’ layoff rates measured along the vertical axis and […]

With construction deemed largely non-essential, there will be a hit to state revenues

When Gov. Inslee ordered Washington residents to stay home beginning March 25, he exempted essential businesses. The Puget Sound Business Journal (PSBJ) reported that the list of essential businesses left the construction industry unsure as to whether it is included or not. Yesterday, Gov. Inslee clarified: “In general, commercial and residential construction is not authorized.” […]

Initial claims by industry

Here are two charts. The first shows initial claims for unemployment insurance in Washington during the first three weeks of March by industry as a proportion of the industry’s employment in February: The second chart shows each industry’s claims during the first three weeks of March as a share of total claims over the period:

Initial Claims for Unemployment Insurance

This morning the state Employment Security Department reported that it received 133,464 new claims for unemployment insurance during the March 15-21 week. This is an increase of 119,310 over the 14,154 claims filed during the preceding week. The four-week moving average of claims is 39,963, up from 7,974 for the preceding week. Here is a […]

Washington cities may do better than other U.S. cities in a COVID-19-related recession

The Brookings Institution took a look at which metropolitan areas in the U.S. are most exposed to the potential recession. They consider “industries vulnerable to disruption by virus-related demand declines, shutdowns, and layoffs.” These industries are: Mining/oil and gas, Transportation, Employment services, Travel arrangements, and Leisure and hospitality. Nationally, 24.2 million people work in these […]

The food supply chain is moving (and hiring)

The Wall Street Journal has an interesting story about the abundant food supply in the U.S. and the current logistical issues in getting it to the stores: You wouldn’t know it from the bare grocery store shelves across the country, but America has plenty of food. The challenge is getting it from the farm to […]