The COVID-19 pandemic is inflicting enormous human and economic costs on the Ninth District, nation, and world. The Federal Reserve Bank of Minneapolis is charged with closely monitoring economic conditions in our region so that local and national policymakers can make informed policy choices.
Given rapidly changing conditions, the Federal Reserve Bank of Minneapolis is monitoring a variety of daily and weekly data sources to more accurately assess economic developments in real time, some of which are displayed below. Please check back for frequent updates and new indicators.
Selected real-time economic indicators: Mobility
Location data from cell phones provide insight into how people are physically engaging with different sectors of the economy. The large declines in March reflect people staying at home, while the upward trends since reflect some increased mobility. Keep in mind that location is not spending; getting out more doesn’t always imply spending more.
SafeGraph foot traffic mobility
Google Mobility Reports
Selected real-time economic indicators: Labor and Small business
Real-time insights into the devastating impact of the crisis on labor and small business conditions are essential for the Federal Reserve. Job postings are slowly recovering, but remain substantially below year-ago levels, especially in Minnesota and Wisconsin.