Economic Impact of Coronavirus
Paycheck Protection Program Small Business Loans
Small businesses have been hard hit by the COVID-19 pandemic. The Paycheck Protection Program (PPP) was a small business loan program enacted by Congress for relief from the COVID-19 pandemic's economic fallout. Loans were distributed from April 3, 2020 through August 8, 2020. Nationally it provided $525 billion in forgivable loans for firms to cover payroll and some operational costs. The PPP Loans Dashboard contains a report summarizing how Northern Virginia businesses, localities, and industries fared with the loan program. The analysis utilizes the PPP loan database released on December 2, 2020 by the Small Business Administration.
Click on image to go to dashboard
Unemployment and Labor Force
Information on the economic impact of the coronavirus due to shelter-in-place and non-essential business closings are found in the charts document and the interactive dashboard/maps. The dashboard displays a map on the number of initial unemployment claims per 1,000 persons in the labor force. There is a second map displaying the share of jobs in counties that are most vulnerable to coronavirus. The number of weekly unemployment claims to date is also tracked in the dashboard. This analysis uses data from the Virginia Employment Commission. The latest available labor force data is used for this analysis. The charts and economic impact dashboard is updated weekly on Fridays.