While you're here, how about this:
The pandemic could drive homelessness up as much as 45%, an economist projects - CNN
(CNN) If the coronavirus pandemic continues to drive unemployment levels as high as predicted, homelessness will increase 40% to 45% by the end of the year, according to an analysis by a Columbia University economics professor.
What India needs: Pandemic response that combines ethics and economics | The Indian Express
In some of the more balanced and nuanced conversations over the last many weeks, I have been struck by an oft-recurring argument: The urgent need felt by people to "re-open" the Indian economy, virus be damned. Pressed a little further, there is a plaintive cry of the "economy" becoming permanently "cratered" if the "lockdown" were to be extended much further.
This capacity, and its growth rates, are the only two factors that need to be considered, in conjunction with the geographical mapping of COVID-19 by ward and district, and finally, the rate of spread or 'R-number' of the virus — during the almost-total national lockdown.
Free exchange - Why the pandemic could eventually lower inequality | Finance & economics |
F OR AMERICA'S poor, the covid-19 pandemic has delivered a swift and brutal reversal of fortune. At the start of the year unemployment was plumbing new lows. Years of wage growth for low-income workers had healed some of the scars left by the global financial crisis. Already by 2016, the most recent year for which figures are available, the economic expansion had produced a smaller rise in American income inequality, after taxes and transfers, than any expansion since the early 1980s.
Quite a lot has been going on:
COVID-19 economics — first book hits shelves
There has never been a harder time to be a political leader. The choices that must be made are enormous, the consequences potentially catastrophic, the science guiding those decisions uncertain — and there is no precedent. As a result, the COVID-19 pandemic has revealed some of the best and the worst in the world's leaders: from opportunism and denial to compassion and clarity.
The crisis has forced some politicians, especially on the right, to go against deeply held inclinations by implementing interventions and financial handouts that, in normal times, even most of their opponents would deem excessive. Countries have tried to freeze their economies and prop up the absence of liquidity and wages with eye-watering subsidies until the wheels start turning again.
Hopes dim on quick economic recovery | TheHill
Economic analysts are souring on the prospect of a quick recovery that would see the economy quickly bounce back once the coronavirus pandemic is brought under control.
The darker projections come as the country struggles to ramp up the testing and contact tracing systems that public health experts say are key to safely reopening the economy.
The delays in creating conditions to reopen the economy could mean the economic damage will leave bigger scars, leaving more businesses bankrupt, more employees out of work – and a more arduous path to recovery.
7 economic indicators that show the continued impact of COVID-19 - Business Insider
Last week's April jobs report showed that the US economy lost a record 20.5 million jobs and the unemployment rate spiked to 14.7%, the highest since the depths of the Great Depression. Since the eye-watering report, more have been released showing further damage to the US economy.
Economists and industry watchers agree that the US has been thrown into a recession from the coronavirus pandemic shutdowns. Now, all eyes are watching US economic data to gauge the extent of the damage and weigh what shape a recovery might take.
Maine's Seasonal Businesses Feeling Economic Effects Of The Coronavirus : NPR
Pier Fries in Old Orchard Beach, Maine, was open and serving recently, but a few restaurants have announced they will close permanently. Fred Bever/Maine Public Radio hide caption
But its economy relies heavily on summer visitors — many from states where the virus is still rampant. With Memorial Day approaching, tourism businesses are worried summer may be over before it has begun.
In the historic seaside summertime playground of Old Orchard Beach, it's spruce-up time. Workers are starting to open up the fry shacks, pizza parlors, and the town's many low-rise hotels.
Happening on Twitter
"When I graduated high school in 2008, it was a recession. Now, here I am, I just started a family, and I'm basical… https://t.co/pOcmWSoCuF CNN Sat May 16 16:02:04 +0000 2020
In a March 2020, 50% of the oldest Gen Zers (18-23) reported that they or someone in their household had lost a job… https://t.co/bEFa9P5ICo annehelen (from Missoula, MT) Fri May 15 15:38:23 +0000 2020
Millennials are facing another once-in-a-generation economic disaster | @Luhby https://t.co/3doAYl4ksH CNNSotu (from Washington, D.C.) Sat May 16 12:37:59 +0000 2020
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