Brookings has released a new tool for measuring the impact of the coronavirus on local economies across the country, as well as the effectiveness of economic recovery efforts.
There are a lot of uncertainties still about the ongoing economic impacts of the coronavirus in the United States, according to an article by Alan Berube for the Brookings Institution. "Much will depend on how the virus behaves in upcoming months, as well as how governments, businesses, and households respond."
"What is certain, however, is that the nature of the downturn and the road to recovery will differ widely across local economies," so Berube and colleagues have created a new Metro Recovery Index, presenting data across a variety of indicators "to provide a picture of the impact of the crisis (compared to a pre-crisis state) and the trajectory of recent change for both large and midsized metropolitan areas."
The Metro Recovery Index is available in an interactive dashboard to track economic impacts and trajectories in three major categories: the labor market, the real estate market, and other areas of economic activity, explains Berube. The article includes a quick rundown of the mostly bad news included in each category.
Read the full story: The Metro Recovery Index: Tracking metropolitan economies through the COVID-19 crisis
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