Estimating the Economic Impacts of the COVID19 Pandemic on the State of Georgia Economy_A Quick-Response Method

J. Salazar, J.C. Bergstrom and D. Poudel

Journal of Agribusiness, vol. 38, issue 01

Abstract: The primary objective of this research was to conduct a quick-response estimation of the total economic impacts of the COVID-19 pandemic on the leisure and hospitality industry in the State of Georgia utilizing state job loss data and an input-output model. The advantage of using job loss data is that they are frequently reported (e.g., weekly, monthly) and are readily available from federal and state labor statistical sources allowing for a quick, industry-specific snapshot of the economic impacts of the COVID-19 pandemic. In the State of Georgia, approximately 187,500 jobs were lost in March and April of 2020 in the accommodation and food services sectors, which are part of the broader leisure and hospitality industry. These job losses were associated with estimated decreases in total output in the state in March and April about $1.4 billion, $2.3 billion, and $4.3 billion, respectively.

Keywords: Community/Rural/Urban Development; Research Methods/Statistical Methods (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jloagb:307144

DOI: 10.22004/ag.econ.307144

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