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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 ...
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 ...
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...
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 ...
Impact on the greater economy was as of March 17 expected to be large as Americans have in recent years spent more at restaurants than at grocery stores. [4] Lester Jones, chief economist of the National Beer Wholesalers Association , said “This is a very significant and traumatic event for the restaurants, bars, taverns and the industry in ...
On January 22, 2021, Biden released an executive order addressing the economic crisis due to COVID-19. [ 187 ] Biden voiced support for $600 extra weekly unemployment benefits, increasing Social Security checks by $200 monthly, federally funded COBRA insurance for those who have lost their jobs during the pandemic, paid sick leave, as well as ...
A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Just 10 days ago, anxious markets were freaking out about the US economy ...
As of 2023, the COVID-19 pandemic is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS CoV‑2). Its effect has been broad, affecting general society, the global economy, culture, ecology, politics, and other areas.