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Economic Research Institute of Erie Releases Latest Issue of Erie Leading Index

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ERIE – The Economic Research Institute of Erie (ERIE) at the Black School of Business, Penn State Erie, The Behrend College, recently unveiled its latest Erie Leading Index (ELI) report for fourth quarter 2019 and the first quarter of 2020.

The special issue of the ELI focuses on some of the economic effects that are beginning to emerge as a result of the coronavirus pandemic.

According to the report, ELI remained steady until January, but the COVID-19 pandemic was likely to create substantial downward pressure on the Index, which tracks eight key economic indicators.

Both at the national and local levels, the biggest adverse employment impact has been in the Leisure and Hospitality sector. Between February and March, employment in the Leisure and Hospitality sector fell by 459,000 in the country as a whole and by 200 in Erie County. In contrast, over the past 10 years, employment in this sector increased between February and March, on average, by 31,000 in the United States and by 16 in Erie.

A few sectors did experience employment gains last month, including Mining, Logging, and Construction and Education and Health Services in Erie County.

For the full report, see https://eriedata.bd.psu.edu/node/238.

The purpose of ERIE is to collect, analyze, interpret and disseminate data, information, and forecasts for the Erie, Pennsylvania regional economy.