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The pandemic left millions of people in the U.S. at-risk when it comes to nutrition and overall health status. The pandemic complicated food insecurity among children, older adults, and undocumented immigrants. Feeding America stated that the estimated number of food-insecure kids could jump from 11 million to an estimated 18 million.
The pandemic led to governments providing an unprecedented amount of stimulus, and was also a factor in the 2021–2022 global energy crisis and 2022–2023 food crises. The pandemic affected worldwide economic activity, resulting in a 7% drop in global commercial commerce in 2020.
The COVID-19 recession was a global economic recession caused by COVID-19 lockdowns. The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis.
The Sahm Rule, developed by economist Claudia Sahm, says that the US economy has entered a recession if the three-month average of the national unemployment rate has risen 0.5% or more from the ...
The economy is complex with countless numbers of moving parts, and sometimes some of those parts will be behaving so abnormally that it will force time-tested indicators to break down.
'The pandemic has exacerbated this trend' The health of a region’s economy is generally correlated with the size of its population, and the pandemic saw major population changes across the country.
The New York Times reported on June 10, 2020, that "the United States budget deficit grew to a record $1.88 trillion for the first eight months of this fiscal year." [130] The US economy recovered from the COVID-19 pandemic in 2021, growing by 5.7%, which was its best performance since Ronald Reagan's presidency (1981–1989). [131]
The National Bureau of Economic Research says a recession involves a "significant decline in economic activity that is spread across the economy and lasts more than a few months."