Study: 42K could be jobless in Wilmington area due to COVID-19

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Business closed (Photo: WWAY)

NEW HANOVER COUNTY, NC (WWAY) — A new study says the jobless rate could hit 27 percent in the Cape Fear due to the ongoing coronavirus pandemic.

MoneyGeek conducted a study showing the estimated total COVID-19 related unemployment in Wilmington from the start of the pandemic to whenever it ends.

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According to estimates, more than 42,000 people in Wilmington would be unemployed, but not at one given time. To put that into perspective only about 15,000 were unemployed during the Great Recession (2009-2012).