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The International Monetary Fund (IMF) estimates that real (inflation-adjusted) gross domestic product (GDP) in the United States will fall by 8 percent in 2020, according to the latest update to their World Economic Outlook report.
New economic growth statistics from the Bureau of Economic Analysis (BEA) confirm that the American economy continues to suffer historic damage during the coronavirus pandemic.
https://www.pgpf.org/blog/2020/07/second-quarter-gdp-drops-by-historic-rate
Average income among households in the lowest fifth of the income distribution was $21,000, while income for households in the highest fifth averaged $291,000.
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).
The latest Financial Times-Peterson Foundation US Economic Monitor, released on July 7, 2020, reveals timely data about Americans’ deep concerns about the health and economic effects of the coronavirus (COVID-19) pandemic.
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.
The latest Financial Times-Peterson Foundation US Economic Monitor, released on June 4, 2020, reveals how the coronavirus pandemic continues to have significant financial and economic impacts across wide swaths of American society.