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%
Sit-Down Restaurants Foot Traffic
(not sales) – WI -17%, MN -26%
Seated Diners at Restaurants
(not sales) – WI -55%, MN -35%, US -41%
Change in Small Business Employment
(not sales) – WI -12%, MN -16%, US -21%
Bars Foot Traffic
(not sales) – WI -81%, MN -83%
Malls Foot Traffic
(not sales) – WI down 26%, MN down 30%
Retail & Restaurants
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.
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.
