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U.S. Economic Rebound Hinges on Covid Restrictions in Each State
Posted
December 22, 2020
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5:00Now PlayingThe U.S. economy has splintered along state and city lines, with the speed of the rebound largely dependent on the magnitude of local business restrictions to combat an unending surge in Covid-19 cases.
California and Illinois, where some of the strictest measures have been imposed, saw jumps in state unemployment filings this month that helped push the weekly U.S. total to a three-month high. Both states also had November unemployment rates above the national level of 6.7%.
In Florida, where many businesses are permitted to operate at full capacity, state jobless filings have hit the lowest since March and the November jobless rate was below the national average, even with tourism employment still depressed.
And even with a new $900 billion stimulus package approved by Congress late on Monday -- extending and boosting relief for unemployed Americans -- the road to recovery will continue to be uneven in different regions.
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