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As of June 1, 2020, the Treasury has disbursed roughly $17 billion of the total $32 billion allocated to the program.
During the week that ended on May 23, 2.1 million people filed for unemployment insurance. That capped off a ten-week period during which a total of 41 million individuals filed a claim.
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.
The outbreak of COVID-19 has become 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.
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.
Since early 2010, total student loan debt has consistently outpaced other non-mortgage household debt.
https://www.pgpf.org/chart-archive/0267_student_debt_outpacing_others
The homeownership rate for young adult households has increased, but remains below it’s peak.
https://www.pgpf.org/chart-archive/0227_young_adult_home_own
The latest Financial Times-Peterson Foundation US Economic Monitor reveals that the coronavirus pandemic is financially impacting the vast majority of Americans, and there is broad-based support for federal response measures.
