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It’s going to take at least a decade for the labor market to recover from the coronavirus (COVID-19) pandemic, according to the latest data from the Congressional Budget Office (CBO).
Without federal intervention, many services could be drastically reduced to meet balanced budget requirements.
Properly addressing the nation’s aging infrastructure requires action not only at the federal level, but also at the state and local levels, where most infrastructure spending is carried out.
https://www.pgpf.org/blog/2020/06/state-and-local-infrastructure-spending-a-closer-look
America’s economic rebound from the coronavirus pandemic seems to have begun, depending on location, according to Phillip Swagel, the director of the nonpartisan Congressional Budget Office.
New data from the Bureau of Labor Statistics show that the labor market experienced an unexpected improvement in May.
So far, federal measures to support small businesses have amounted to $760 billion.
Before the pandemic, the U.S. economy was in its longest expansion since World War II and had notably low unemployment. The pandemic and the resulting reductions in social and economic activity, however, have altered that trajectory.
https://www.pgpf.org/blog/2020/05/how-the-coronavirus-has-affected-our-economic-outlook
COVID-19 has spread to nearly every country in the world, and to help reduce the health risk and save lives, many countries have imposed limitations on business activity, congregating, and traveling.
In response to the COVID-19 pandemic, elected leaders have asked the American people to stay at home and have forced businesses to close to mitigate the spread of the virus.
The decrease in GDP in the first quarter was driven by a decline in consumption and investment.