Our Midwest Economy in a Snapshot

Midwest Federal Reserve Economy Ups & Downs

As of 9/27/20

UP

Area WI MN US
Grocery 6% 1% -2%
Parks 188% 139% 82%

Racial Disparity Widens

UNEMPLOYMENT

 These increases align with increases in food scarcity, free meals/groceries, and late mortgage/rent.

 

Area White Black Hispanic Asian
March 4% 6.7% 6.0% 4.1%
September 7% 12.1% 10.3% 8.9%

Consumer Spending Down 6-9%

The Midwest Federal Reserve shows the following change in consumer spending since March 2020:

State Low-Income Middle-Income High-Income
WI -6% -3% -9%
MN -7% -5% -8%
US 0% -3% -7%

 

Movie Theater Foot Traffic

Self explanatory. WI -77%, MN -54%

Movie Theaters
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Sit-Down Restaurants Foot Traffic

(not sales) - WI -17%, MN -26%

Restaurants
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Seated Diners at Restaurants

(not sales) - WI -55%, MN -35%, US -41%

seated diners
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Change in Small Business Employment

(not sales) - WI -12%, MN -16%, US -21%

Small Business
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Bars Foot Traffic

(not sales) - WI -81%, MN -83%

Bars
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Malls Foot Traffic

(not sales) - WI down 26%, MN down 30%

Malls
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Hotels Foot Traffic

(not sales) - WI down 41%, MN down 39%

Hotels
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Recession Comparison: employment levels

During the recessions of 1981, 2001, 2007, and 2020: You can see a swift plummet, and a gradual decline, but significantly lower levels seven months into a recession compared to other years.

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GDP
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Recession Comparison: output

During the recessions of 1981, 2001, 2007, and 2020: You can see a swift plummet in gross domestic product (GDP) - which is the value of goods made in the United States. We have not rebounded nor are near levels of other recessions seven month in.

Post expires at 4:14pm on Sunday September 12th, 2021

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