The Census Bureau Household Pulse Survey highlights state-to-state differences in hits to household income.
What information will the Household Pulse Survey collect?
The Household Pulse Survey will ask individuals about their experiences in terms of employment status, spending patterns, food security, housing, physical and mental health, access to health care, and educational disruption. The questionnaire is a result of collaboration between the U.S. Census Bureau and the USDA Economic Research Service (ERS), the Bureau of Labor Statistics (BLS), the National Center for Health Statistics (NCHS), the National Center for Education Statistics (NCES), and the Department of Housing and Urban Development (HUD).
The data collected will enable the Census Bureau to produce statistics at a state level and for the 15 largest Metropolitan Statistical Areas (MSAs). The survey also is designed to be longitudinal: data will provide insights with regard to how household experiences changed during the pandemic.
When will Data be Made Available from the Household Pulse Survey?
Data collection for the Household Pulse Survey began on April 23, 2020. The Census Bureau will collect data for 90 days, and release data on a weekly basis. (For the first release, the Census Bureau anticipates it will take two weeks after the first week of data collection to prepare and weight the data; subsequent releases will then be made on a weekly basis.)
Hit to Household Income by Week
Hit to Household Income by Percent Page 1
Hit to Household Income by Percent Page 2
Hit to Household Income by Percent Page 3
Hit to Household Income by Percent Page 4
Congratulations!
The Census Bureau provides a data download. I created the above 4 tables by a sort to see who was hardest hit and least hit by Covid-19.
Congratulations to those well-deserving, hard-working people in our nation’s capitol who have the least hit to household income.
Mish
New York: 367,600 cases have been identified
Case numbers in New York and New Jersey, by far the country’s hardest-hit states, have trended steeply downward in recent days. Officials have started implementing plans for a slow, cautious reopening of the economy.
We do not need income we when another 20 to 30% of the economy has gone underground! What the hell you play their game or you don’t and are an outcast like our present homeless. Sometime I wonder what the Almighty is waiting for since we all know what eventually happens.
Colorado’s tourism-heavy economy is going to be in a much more difficult place in a few months. Every (and I mean every) event is cancelled at least until fall. Aspen looks like a ghost town and the airport is empty. None of the touristy places have any timeline for reopening. The National Parks and Monuments are sticking a toe in to see what the water’s like but again, nothing definitive. Even seasonal road closures are being held until June (when another assessment will be debated), because they want to keep people out of the backcountry.
‘The Hunger Games’
Capitol City wins the Hunger Games!
These numbers seem botched. California had 18m people employed and just over 4 million are unemployed due to the virus (less than 30%), which actually includes under-employed because a cut in hours makes you eligible for unemployment. Self employed and gig workers get unemployment too, so it is a very expansive figure here. I live in a high income area and I don’t know a single person who is unemployed – technology, engineering and most professional jobs are still in place. The hits are concentrated in lower income jobs (travel, entertainment, personal services, retail). There is no way to get to 55% lost income. The budget shortfall is 37% so maybe that’s a better benchmark. Part of the budget shortfall is caused by increased unemployment payments and higher medical expenses so it’s not all caused by income tax shortfalls. I think they should recheck their numbers.
If the hit to household income is 45%, how is unemployment only 20%?? Something does not add up.
LOL I gave up on zerohedge years ago. They only operate outside of the standard distribution. They are only right when those 5-6 sigma events happen. So, every once in a while. Sorting through all the other nonsense isnt worth it for me.
I can come up woth crack pot ideas all on my own.
I agree, sorting through all the crap to get to a reasonable article just takes up too much of my time when there are better ways to gather information.
“What States *Were* Hardest Hit by the Coronavirus” – Even severe TDS victim Mike Shedlock is now referring to the outbreak in the past tense.
“If The Fed Follows The Market, Rates Go Negative”
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ZH monkeying with Mish’s wording … an example of why I never really trust those guys.
They can certainly be entertaining, though.
Shorter yields have gone negative…I guess they are implying reference yield and because those yields have not (yet ?) they are jumping ahead a bit with the title ? I.E. the statement is true except that the market has not gone negative.
Maybe they meant it as a broad statement though, as in ” There is no barrier to NIRP if the fed is just following rates” .
Keeps you thinking though…could call that entertainment…
“If the Fed Follows the Market, Why Won’t Rates Go Negative?”
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Not only the titles not the same … but meaning.
We’ve been hearing the excuse that COVID-19 only kills old people who would have died soon anyway. The results of this study (always wait for peer review / confirmation or rebuttal) are not going to be very popular with people making that claim ….
That’s a classic bait-and-switch straw man. Folks have been posting that COVID-19 fatality rates were very high for oldsters with comorbidities, not that we shouldn’t be concerned if they died. In fact, the argument has been that we need to protect these folks, e.g., folks in nursing homes, which even the most sought after batchelor in the hearts of libtard women, Andrew Cuomo, failed to do, in fact, he did quite the opposite. Nice but misleading try.
Many folks have been posting that COVID-19 fatality rates were very high for oldsters with co-morbidities …
AND that they would have very likely died pretty soon anyway (because of the co-morbidities I presume) even with no COVID-19.
So you might never have argued that but plenty of other folks on this board have. And that link I posted was to prove anyone who had put that POV across was wrong.
Over age 80, 9% of cases, 52% of deaths.
Ages 40-59, 34% of cases, 9% of deaths.
Seems straightforward to me. Those numbers are from the Washington State Dept of Health. How many people in a nursing home have another 11 years of life expectancy is a different question.
For those who are interested, here is some underlying data from the paper’s github:
“Data collection for the Household Pulse Survey began on April 23, 2020. The Census Bureau will collect data for 90 days, and release data on a weekly basis.”
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90 days, eh??
So reporting ends sometime near the end of July? As in just before July 31st end to extra $600 / wk given to those on UE? As in just around the last of PPP (8 weeks from loan inception)?
Coincidence??
Would dearly love to see those numbers after expiration of above … and end of forbearance time frame.
Retail sales only dropped 20 something % though. We continue to spend, spend, and spend. Income is just overrated.
What? Trump didn’t fire all those useless government employees?
Obviously, duh. We still suffer under a government, don’t we?
Living off of theft, has always been very remunerative; as long as your victims remain pliant enough to let you get away with it.
Just look at those in the FIRE rackets from 1971 onwards. Or Illinois public unions.
If they are pliant I’m not sure they are victims, and if they were not pliant only the result of confrontation would decide who was victim… I guess they settle for a lesser loss…might even be compassion, because few want the life of another on their conscience even if it were of a criminally corrupt bureaucracy…so maybe they are just thinking of their own sanctity…and maybe that makes them selfish really…so they are paying others out of guilt of their own selfishness…and they have to choose people who know not of guilt and that are shameless for that to add up…which is why you end up with the bureaucracy that you do…I dunno…I might be wrong about that though…
Don’t forget thrifty!
Yes and trustworthy, honest, helpful, friendly, courteous, clean, and reverent.