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Due to the COVID-19 pandemic, Congress and President Trump enacted the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES) on March 18, 2020. The Congressional Budget Office estimated that the budget deficit for fiscal year 2020 would increase to $3.3 trillion or 16% GDP, more than triple that of 2019 and the largest ...
Data from the Economic Innovation Group's (EIG) Distressed Communities Index shows that as of 2023, local economies across America still hadn't fully recovered from the effects of the COVID-19 ...
According to updated economic forecasts from the Fed's Summary of Economic Projections (SEP), central bank leaders see core inflation hitting 2.5% in 2025 — higher than September's projection of ...
The unemployment rate reached an all-time high of 14.7% in April 2020 before falling back to 11.1% in June 2020. Due to the effects of the COVID-19 pandemic, Q2 GDP in the US fell 32.9% in 2020. [194] [195] [196] The unemployment rate continued its rapid decline falling to 3.9% in 2021. [197] It reached 3.7% in May 2023. [198]
Weekly confirmed COVID-19 deaths Map of cumulative COVID-19 death rates by US state. [1]The CDC publishes official numbers of COVID-19 cases in the United States. The CDC estimates that, between February 2020 and September 2021, only 1 in 1.3 COVID-19 deaths were attributed to COVID-19. [2]
The US economy is giving off weird vibes right now. There are millions of job openings and the unemployment rate is low. In fact, it hasn’t been this low for such a long stretch of time in decades.
A weekly update on the impact of the COVID-19 pandemic on the world economy, and on major individual economies such as the US, China, Japan, other Asian economies, Europe, Australia and New Zealand has been produced by Saul Eslake, one of Australia's best-known economists, since late April 2020. [257]
The coronavirus crisis would appear to have put the entire U.S. economy on ice. Twenty-six million people have filed for unemployment in just a month, with millions more likely waiting in ...