COVID-19 Has Wrecked Consumer Confidence in All 50 States
To determine how far consumer confidence has fallen in each state, 24/7 Wall St. reviewed changes in the consumer sentiment index from research company Morning Consult from March 1 through May 15. States are ranked based on percent change, from the smallest to the largest decline in consumer confidence.
Data on known cases of the coronavirus came from state health departments. Cases per 100,000 residents by state were calculated using population data from the 2018 American Community Survey from the U.S. Census Bureau.
April unemployment rates came from the Bureau of Labor Statistics. Total unemployment claims for March 15 through May 16 are also from the BLS. Unemployment claims as a share of the total workforce was calculated using February employment estimates, also from the BLS.
Mobility data came from Google and represents the typical amount of time a state resident spent at home on May 13 compared to a normal baseline. The baseline is the median amount of time for the corresponding day of the week during the five week period of Jan. 3 – Feb. 6, 2020.