For Alexandria businesses, things are better than they were, but data from Opportunity Insights shows recovery is a gradual process.
Alexandria’s consumer spending, which was down 25% from January numbers in July, has climbed to 14.8% below January spending levels. The data includes all credit and debit card transactions from an area, so that includes online orders.
After several weeks of staggering increases, both measures of unemployment in Alexandria are improving for the first time since early June.
Initial unemployment claims — the first time claims are filed by someone seeking unemployment — and continued unemployment — claims to continue receiving unemployment — were both down.
The number of new unemployment claims in Alexandria has reached levels not seen since early May, according to the Virginia Employment Commission.
The latest numbers show that the number of new unemployment claims — those making their initial unemployment filings — has gone up to 932 for the week of July 25. Between July 18 and July 25, claims increased by 201.
The Alexandria Economic Development Partnership (AEDP) announced a full list of recipients for the program’s ALX B2B program — grant funding aimed at helping local businesses hold out through a sluggish recovery — and is moving forward on another phase of the program.
Gov. Ralph Northam has raised the possibility of moving back into the shutdown if coronavirus cases continue to increase, but the state’s data indicates many Alexandrians still haven’t recovered from the first shutdown.
Alexandria’s continued unemployment continues to hover around 6,000 people with new claims reaching mid-May levels, according to the Virginia Employment Commission.
Temporary waivers granted to local businesses back in April will be extended — easing at least once concern while countless restaurants and retail locations struggle with low sales.
The extended waivers will allow local restaurants to operate delivery services, sidewalk vending, and more. These permits will now be valid until Nov. 22.
Hopes that the third phase of reopening could have turned around a two-week trend of increasing unemployment have not borne out.
New data from the Virginia Employment Commission shows that continued claims — the number of Alexandrians continuing to claim unemployment week after week, has gone up to 6,410 during the week of July 4. This is the highest number of continued claims since the week of June 6.
After ten weeks of consistent downward trending, Alexandria saw its first uptick in new unemployment filings at the end of June.
Data released for the Virginia Employment Commission noted that for the week of June 27, there were 481 new unemployment claims — nearly 100 more claims than the 386 claims filed the week before and the first time new filings have gone up from the previous week since new claims peaked at 2,578 new claims on April 4.
It’s been a rough season for Alexandria businesses.
New data from Opportunity Insights, a Harvard-based team of researchers, shows that Alexandria has fallen lower than its regional neighbors in the percentage change in consumer spending. The data shows that consumer spending across the region started to tank around March 16, when the public schools closed, and for most of the region hit rock-bottom on April 1 when the Stay At Home order went into effect.
In a memo to City Council, the Alexandria Economic Development Partnership (AEDP) laid out the path to recovery for Alexandria businesses as the city prepares to sift through the economic wreckage left in the wake of COVID-19
In a series of short term and longer-term phases, AEDP President and CEO Stephanie Landrum laid out a number of things the city can do to help support businesses in the city struggle to hold on through the pandemic.
Mayor, Sheriff Hand Out Diplomas to High School Seniors — “Yesterday, we announced three more deaths [from covid-19]. We have 26 deaths in the city. Every day, it’s another shoe falling. But this, this is something so positive.” (Washington Post)
Alexandria Economic Development Partnership Creating Local Business Grant Program — “AEDP will pull $2 million out of its ‘Alexandria Investment Fund,’ local incentive cash for retaining and attracting businesses, and then pair that money with federal funding the city received through the CARES Act.” [Washington Business Journal]
