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State Economy Lost $1.6B in Early Weeks of Pandemi

Media Center:State Economy Lost $1.6B in Early Weeks of Pandemic

Last Updated: 5/11/2020 10:18 AM

State Economy Lost $1.6B in Early Weeks of Pandemic

In the first weeks of the state's shutdown to stop the spread of the coronavirus pandemic, Iowa’s economy lost an anticipated $1.6 billion, economists said Wednesday. The presentation, hosted by the Tax Education Foundation of Iowa, a public policy think tank, included a review of the effects of COVID-19 on Iowa’s economy in March and early April. Ernie Goss, the Jack MacAllister chair in regional economics at Creighton University, and Scott Strain, a senior economist with Goss and Associates and adjunct professor at the University of Nebraska-Omaha, presented the findings of the report. The report looked at the period from March 21 through April 11. During that time, Iowa lost 243,000 jobs, just over $500 million in wages and about $74 million in self-employed income. Watch the presentation.

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