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The first piece in our series on the effectiveness of the fiscal response to the COVID-19 pandemic, will take a look at how the government’s response to the pandemic affected the nation’s economy.
https://www.pgpf.org/blog/2020/09/how-did-the-fiscal-response-to-the-coronavirus-help-the-economy
During the week that ended on September 19, 870,000 people filed for regular unemployment insurance, continuing a devastating trend in the labor market. Since March 15, 62 million individuals have filed a claim.
The decline in the unemployment rate from July to August results from a decrease in the number of unemployed individuals from 16.3 million to 13.6 million.
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.
The Federal Reserve’s lending facilities are one of the many policy tools the central bank is using to stabilize the economy in response to the coronavirus (COVID-19) pandemic.
The economic impact of the coronavirus has been profound, but it has not been felt equally by all demographic groups.
https://www.pgpf.org/blog/2020/09/five-key-takeaways-from-the-unemployment-data
As of August 27, 2020, the Treasury has disbursed almost $27 billion of the total $32 billion allocated to the program.
To date, the Paycheck Protection Program (PPP) has disbursed over $500 billion in loans to 5 million businesses, making it the largest component of the U.S.’ legislative response to the coronavirus pandemic. But has it been effective?
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