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America’s small businesses have been severely impacted by the economic downturn caused by the pandemic — and lawmakers have focused a significant part of federal relief on helping this critical part of our economy.
There were 916,000 jobs added in March, which suggests that the labor market recovery is accelerating. However, the unemployment rate remains high, especially for non-white workers.
https://www.pgpf.org/blog/2021/04/march-showed-positive-signs-for-the-labor-market-recovery
The number of individuals experiencing long-term unemployment (lasting 27 weeks or longer) has quadrupled during the coronavirus (COVID-19) pandemic.
The coronavirus pandemic has caused a severe public health crisis as well as substantial economic disruption for every American. So far, lawmakers have enacted five separate pieces of legislation.
The outbreak of COVID-19 has been both a public health and an economic crisis. In particular, the closure of many businesses has resulted in an unprecedented surge in unemployment claims in the United States.
Setting a higher minimum wage would affect family incomes in a variety of ways, including increasing earnings for most low-wage workers and lifting some families out of poverty.
As of January 29, 2021, the Department of the Treasury has disbursed over $34 billion of the total $48 billion allocated to air carriers through the PSP1 and PSP2.
As lawmakers continue to explore policies to help the nation recover from the economic damage caused by the pandemic, a key part of the discussion is how stimulus checks should be structured and targeted for maximum effectiveness. Looking at recent spending and saving trends offers some clues.
https://www.pgpf.org/blog/2021/02/should-stimulus-checks-go-to-higher-income-americans
The economic recovery is expected to continue and gross domestic product (GDP) will return to its pre-pandemic level by the middle of this year, according to the latest data from the Congressional Budget Office (CBO).
https://www.pgpf.org/blog/2021/02/new-projections-for-unemployment-gdp-inflation-and-interest-rates
As the nation continues to battle the devastating effects of the pandemic, new data from the Bureau of Economic Analysis (BEA) shows a sharp drop in the rate of economic growth at the end of last year, while the nation’s economy overall remains significantly below pre-pandemic levels.
https://www.pgpf.org/blog/2021/01/q4-gdp-continues-to-grow-though-at-a-much-slower-pace