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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 ...
The most visible effect of COVID-19 on the U.S. economy showed up in the abrupt rise in the unemployment rate. In February 2020, before the pandemic hit the economy, the U.S. unemployment rate sat ...
COVID-19 has had myriad impacts on the US economy. Home & Garden. Lighter Side
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 ...
While COVID-19 increased mortality in general, different countries experienced dramatically different impacts on birth rate. Birth rates in the US declined, whereas Germany's reached an all-time monthly high. [85] Some in China had initially thought that their COVID-19 lockdowns would boost birth rate, but that prediction was proven wrong. [86]
US retails sales dropped a record 8.7% in March alone. The US airline industry had also been hit hard, seeing a sharp decline in its revenues. [121] The COVID-19 recession has been widely described as the most severe global economic downturn since the Great Depression and "far worse" than the Great Recession. [122] [123] [124] [125]
A little more than two months after the first cases of what would become the coronavirus emerged at the tail end of 2019, the U.S. economy went dark. Now, on the two-year anniversary of the first...
The US economy is on the verge of an extremely rare achievement. Economic growth in the first half of the year was solid, with the economy expanding a robust 2.8% annualized rate in the second ...