Why Atlantic City and Lake Charles Towns are the Hardest Hit Towns by COVID-19

0
19

Atlantic City and Lake Charles town are the most greatly been devastated towns in the US by COVID-19. The two town economies rely heavily on casino resorts, and a new report shows how the pandemic has impacted those regions.

According to the US Bureau of Labor Statistics, the Lake Charles and Atlantic City regions have been hit hardest with the exemption of the resort mecca of Kahului-Wailuku-Lahaina.

Atlantic City recorded a 15.8 percent drop in employment, while Lake Charles reported a 15.9 unemployment rate. Only Kahului-Wailuku-Lahaina in Hawaii had a more devastating decline at 24.7 percent.

In the past year, the employed task force in Lake Charles dropped from 114, 500 to 96, 300 while 21, 100 people were forced to go unemployed in Atlantic City. Las Vegas didn’t fare much better in 2020, the Sin City recorded a 12.3 employment decline.

The summer release by William J. Hughes Center for Public Policy at Stockton University highlights the post-pandemic economic recovery issue. Edith Oliver Cooke, an associate professor of economics at state school, notes that casinos will play a considerable role in the region’s recovery.

Cooke further noted that land-based gaming revenue dropped by 44 percent in 2020 due to prolonged closure. However, other gaming options that include iGaming and sports betting flourished.

COVID-19 restrictions are no longer in place in Lake Charles and Atlantic City. But unemployment rate had already gone up before the two states lifted capacity limits in the gaming and hospitality sector.

In April, the US Bureau of Labor Statistics showed that the unemployment rate at Atlantic City stood at 11 percent. That is despite the leisure and hospitality sector bringing back 2, 300 workers since January. In Lake Charles unemployment rate stood at 7 percent, the hospitality and leisure had brought back 11, 500 workers since January.

LEAVE A REPLY

Please enter your comment!
Please enter your name here