KARK
44577005778500FOR IMMEDIATE RELEASEContact: Jonathan LuptonPhone: 501.372.3300E-mail: jlupton@Metroplan releases 2020 ECONOMIC review and outlookCovid-19 and Our EconomyLITTLE ROCK, AR, December 29, 2020 —?Metroplan announces release of the 2020 Economic Review and Outlook, chronicling economic trends for the Little Rock-North Little Rock-Conway Metropolitan Statistical Area (MSA). This edition of the Metrotrends Economic Review and Outlook looks at the Covid-19 pandemic and its impact on the national and regional economy. The Covid-19 pandemic has caused the deepest U.S. economic recession since the Great Depression. Total Central Arkansas jobs nosedived in April, the sharpest short-term job loss of modern history. When bottom-out occurred, the Little Rock region had lost over 30,000 jobs. Local economic damage was less serious than the U.S. average, but worse than the state average. The region’s service-oriented economy proved vulnerable to Covid-19.While Arkansas had a comparatively low infection rate in the early stages of March and April, conditions have worsened since then. During September and early October, the state regularly logged the highest death rates per 100,000 in the country. Mortality was generally higher in the state’s rural portion than in metropolitan areas.Total retail sales remained solid amid the pandemic, though selected segments like restaurants and hotels saw major job losses.Local housing construction sector saw a downturn in the February-June window but was back to normal by July. Benton saw the biggest jump in single-family construction, followed by North Little Rock, Hot Springs Village and Bryant.Total construction value in 2019 was $1.126 billion, the second-highest value recorded since 2007. Local manufacturing, construction and freight transportation sectors have seen little disruption from the pandemic.Amazon’s new $500,000 fulfillment center is the latest addition to the Port of Little Rock, with promising prospects for the region’s long-term future.Other topics include:A look at Trio’s Restaurant and Loca Luna, and how the owners successfully managed pandemic challenges.Professionals at UAMS and the Arkansas Department of Health provide insights about the Covid-19 pandemic.Read the full publication by visiting: publishes Metrotrends twice yearly. The spring/summer edition is the Demographic Review and Outlook; the fall/winter edition is the Economic Review and Outlook. All articles, tables and figures are available for republishing with credit. This issue is available as a PDF or paper copy from Metroplan.Metroplan is the federally designated metropolitan planning organization for the four-county region of Faulkner, Lonoke, Pulaski and Saline counties. It is a voluntary association of local governments that has operated since 1955.### ................
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