Health and Economic Analysis on the Covid-19 Pandemic
GDP Decline Not As Large In Second QuarterReal gross domestic product (GDP) decreased at an annual rate of 32.9 percent in the second quarter of 2020 (table 1), according to the advance estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 5.0 percent. Story linked in headline. |
Article: Patrick Barkey Discusses Economy Amid COVID-19 UpticksBBER Director Patrick Barkey discusses current the economic projections and how evaluating the roller coaster of infection rates and making assessments has been challenging. |
View Patrick Barkey on NBC Montana Discussing the RecessionView the quick update with NBC Montana on the current state of the economy now that we''re in early June. Link in headline. |
COVID-19 Related Unemployment Rates Fell in MayIn good news, unemployment rates dropped last month. However, the COVID-19 recession has impacted female unemployment more than male, hitting retail, tourism and other sectors with high rates of female workers. Historically, predominately male jobs are hit harder in a recession (construction and manufacturing, etc.). |
View Our May 15th Economic Update PresentationView our recent economic outlook update, presented in partnership with the Big Sky Chamber of Commerce. Link in headline. |
View Most Recent Employment Data by StateView our most recently updated information from April, on employment by state. Link in headline. |
NBC Montana Article on Our Updated Covid-19 Economic ImpactNBC Montana reported on our updated projections for the Montana economy, changing quickly due to the fluidity of the COVID-19 situation. Link to story in headline. |
Missoulian Article - Bleaker Economic Outlook for MontanaThe Missoulian reported on our updated projections for the Montana economy, changing quickly due to the fluidity of the COVID-19 situation. Link to story in headline. |
Listen to the Covid-19 Economic Impact Discussion with Patrick Barkey and the MT Chamber of CommerceView a recording of the Montana Chamber of Commerce Speaker Series webinar with Todd O''Hair, President and CEO of the Chamber, and Director of the Bureau of Business and Economic Research, Patrick Barkey, discuss the economic impact of Covid-19. https://www.montanachamber.com/events/speaker-series/ |
Friday May 15th, 10am Webinar with the MT Chamber of Commerce on our Economic RecoveryJoin the discussion on the forecast for economic recovery from Covid-19. BBER Director, Patrick Barkey, joins Montana Chamber of Commerce President and CEO, Todd O''Hair. Friday May 15, at 10:00am. Link to webinar in headline above. |
Recent Unemployment Rates from the Labor DepartmentLast week the Labor Department announced an unemployment rate of 14.7%, however when considering a broader measure of unemployment by including discouraged workers, the unemployment rate rises to 22.5%. |
COVID-19 Related Unemployment Estimates from the Federal Reserve Bank of St. LouisIn March, the MT unemployment rate was 3.5% - before the COVID-19 related claims were filed. Using this back-of-the-envelope estimate from the Federal Reserve Bank of St. Louis, we anticipate a rate of about 21% (link in headline). We will see the true numbers when official unemployment data is released Friday, May 8,2020. |
The Federal Reserve Bank of Minneapolis Real Time Covid-19 Economic InformationFind real time COVID-19 economic information on the Federal Reserve Bank of Minneapolis website, where they are monitoring a variety of daily and weekly data sources to more accurately assess economic developments. Check back often for up-to-date information, (link in headline above). |
BBER Study Cited in Letter to Treasury Secretary MnuchinWe are honored our study, The Economic Contribution of the Island Mountain Development Group, was cited by the Harvard Project on American Indian Economic Development in their letter to Treasury Secretary Mnuchin, regarding allocation of COVID-19 response funds to American Indian Nations. |
Watch PBS: Patrick Barkey, Director of the BBER, Join the Discussion on COVID-19During this special program, Answering Questions About Coronavirus, host John Twiggs hosts a conversation with Dr. Greg Holzman, State Medical Officer; Major General Matthew Quinn, Head of Governor?s Coronavirus Task Force; and Patrick Barkey, Director of the Bureau of Business & Economic Research, as well as an interview with Governor Steve Bullock. |
The Economic Impacts of Covid-19 for Montana - Preliminary AnalysisRead our preliminary analysis on the economic impacts Montana faces due to COVID-19. Thank you to NorthWestern Energy for their generous support of this research. |
Robert Sonora joins PBS COVID-19 Panel DiscussionWatch Robert Sonora, Director of Health Research at BBER, and a panel of experts as they discuss COVID-19 on PBS Montana''s Answering Questions About Coronavirus. |
Watch Answering Questions About Coronavirus on PBSOur Director of Health Care Research, Robert Sonora joins Dr. Greg Holzman, State Medical Officer and Dr. Mark Williams, Chief Physician Officer at Bozeman Health for a discussion on COVID-19. Watch here: https://www.montanapbs.org/programs/covid19/ |
Grim Economic Forecast Shows Glimmer of HopeArticle by Robert Sonora, Director of Health Research, suggesting that short term costs could result in long term gains as we maneuver through the COVID-19 crisis. |
Watch PBS Montana 4/16 at 7pm, as BBER joins COVID-19 Panel DiscussionPatrick Barkey, Director of the BBER, joins another panel discussion on COVID-19, 7pm, Thursday, April 16, 2020. |
Montana Minute for New Analysis and Insights Every WeekdayOur Montana Minute podcast, new every weekday, offers quick and timely insights on Montana''s economy. Listen to this recent analysis on why the COVID-19 response has disappointed. |
Tune in on 4/9 for a Discussion on the Economic Impact of COVID-19Join us on Thursday, April 9th, 2-3pm, for a discussion with BBER?s Tino Sonora, Kate Fuller, MSU, and Norma Nickerson, UM, ITTR. They will discuss the economic impact of Coronavirus on Montana?s agriculture, travel and recreation, and healthcare. |
Bureau of Labor Statistics Releases Job Losses ReportThe Bureau of Labor Statistics released a preliminary report of sector job losses. Of 701,000 jobs lost nationally, 65% of were in leisure and hospitality. Sectors showing job gains were in financial activities and the federal government. |
Recent Unemployment Pushes MT to 10%The recent uptick in new unemployment insurance claims due to COVID-19 has pushed the MT unemployment to about 10% up from 3.5% in February. |
Patrick Barkey, BBER Director, Comments on the COVID-19 Economic ImpactSpeaking at the MSU Extension webinar on Thursday, April 2, Patrick Barkey discusses the impact COVID-19 is having on our local economy. |
Unemployment Data for Montana on the RiseData released today shows that new claims for unemployment insurance rose a staggering 6.65 million in the past week. In Montana, new claims rose by 19,500 (up from 15,000 last week ). Total employment in MT is roughly 489,000. Unemployment data, which comes out tomorrow (4/3), will vastly underestimate the unemployment rate as most of the survey was done before the recent increase in new insurance claims. In MT, the unemployment rate is actually between 8-10%, roughly two to three times the rate that will be reported tomorrow. |
Montana is One Day Away from running out of COVID-19 testsSo far Montana is one of the states least affected by CVOID-19, however with cases rising, as more tests are available, Governor Bullock is asking President Donald Trump for more test kits. |
BBER Joins KGVO Radio to Discuss Covid-19Listen to Robert Sonora, BBER Associate Director of Health Research, discuss his study on the impact of COVID-19 to our local economy. |
BBER joins PBS for COVID-19 Panel DiscussionListen to BBER Director, Patrick Barkey, as part of a panel on PBS answering questions about COVID-19. |
Missoula Exposed to Economic SlowdownInteresting Missoulian article on the economic impact of COVID-19 in Montana. |
COVID-19 Initial Economic ProjectionsData on the economic impact of COVID-19 is slow in coming, however using weekly financial data, BBER estimates a 96% chance of recession in 13 weeks. |
