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Fed’s Bostic on why the South has the lowest unemployment rate in the country – MarketWatch

‘The virus came to us after it had been to California, the West Coast and New York,’ Bostic said. That bought the region more time to prepare for its arrival.

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The Southern region of the U.S. is currently experiencing the lowest unemployment rate in the country of 6.9%.Notably many Southern states including Georgia and Florida were among the first to reopen parts of their economies while business lockdowns were in place in many parts of the country to curb the spread of coronavirus. Thats not the reason why the unemployment rate in the region is so low compared to the Northeast where the rate is three percentage points higher as of August, said Atlanta…

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