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A note from EPI's Kirstyn Flood: As we try and settle in to a life of “social distancing” and reduced work hours, it’s becoming increasingly harder to separate economic fact from fiction. This newsletter recaps EPI’s latest research-based insights on how to buffer the economic impact of the coronavirus at the national and state and local levels, and on the need for paid sick days. For more recent posts on the impacts and responses to the coronavirus, click here.
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To help stem the estimated 3 million jobs lost due to cratering household consumption by summertime, Congress must act big and fast, urges EPI’s Josh Bivens. Policymakers can mitigate job losses and help businesses weather the economic shock with a macroeconomic stimulus package large enough and well-targeted enough to fill in the substantial COVID-19‒induced hole in demand. Read the blog post »
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Check out more COVID-19 news, analysis, and trends you need to know:
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As federal lawmakers consider initial legislation to combat some of the public health and economic dangers posed by the COVID-19 pandemic, state and local policymakers must act to slow the spread of the virus and mitigate the economic toll that the crisis will take on state and local economies. Possible steps include emergency waivers to quickly expand eligibility for Medicaid, increased funding for state unemployment insurance systems, expanded worksharing programs, and many others. Read the blog post »
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Economist Elise Gould explains the need for paid sick leave during the coronavirus pandemic. Watch the video »
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The COVID-19 pandemic continues to highlight the costs of economic inequality in the United States. There’s the inequality in access to paid sick days and health insurance between high- and low-wage earners. There’s the inequality in the ability to work from home across sectors, with workers in one of the most exposed sectors—leisure and hospitality—being the least likely to have the ability to work from home. And there will be inequality in the economic impact of the pandemic, as leisure and hospitality workers are at higher risk of reduced work hours or losing their jobs as travel and dining out grind to a halt. Read the blog post »
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Family First Coronavirus Response Act is an important first step in the United States’ response to the COVID-19 pandemic, and the Senate should pass it immediately. There are provisions for both health spending and paid sick leave, as well as income supports in the form of expanded food-assistance programs and unemployment insurance. Read the blog post »
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Millions of jobs will be lost to coronavirus: What policymakers need to do now
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