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  • Tracey Ouakoube, Anoop Dhamera, and Aayushi Patel

Economic Impacts of Covid-19

The COVID-19 pandemic has left an economic impact at all levels of the economy ranging from unemployment rates to an increase in the wealth gap to impacts on businesses. Many of these economic impacts have been severe and far more extreme than what we have seen from past pandemics. Check out this infographic to learn about some of the economic impacts of the COVID-19 pandemic!

Sources:

1. Pak, Anton, et al. “Economic Consequences of the COVID-19 Outbreak: the Need for Epidemic Preparedness.” Frontiers in Public Health, Frontiers Media S.A., 29 May 2020, www.ncbi.nlm.nih.gov/pmc/articles/PMC7273352/.

2. Kochhar, Rakesh. “Unemployment Rose Higher in Three Months of COVID-19 than It Did in Two Years of the Great Recession.” Pew Research Center, Pew Research Center, 26 Aug. 2020, www.pewresearch.org/fact-tank/2020/06/11/unemployment-rose-higher-in-three-months-of-covid-19-than-it-did-in-two-years-of-the-great-recession/.

3. Usman, M., Ali, Y., Riaz, A., Riaz, A., & Zubair, A. (2020). Economic perspective of coronavirus ( COVID ‐19). Journal of Public Affairs. doi:10.1002/pa.2252

4. Nicola, Maria et al. “The socio-economic implications of the coronavirus pandemic (COVID-19): A review.” International journal of surgery (London, England) vol. 78 (2020): 185-193. doi:10.1016/j.ijsu.2020.04.018

5. Bartik, Alexander, et al. “How Are Small Businesses Adjusting to COVID-19? Early Evidence from a Survey.” National Bureau Of Economic Research, Apr. 2020. Working Paper Series, doi:10.3386/w26989.

6. Chetty, Raj, et al. “How Did COVID-19 and Stabilization Policies Affect Spending and Employment? A New Real-Time Economic Tracker Based on Private Sector Data.” National Bureau of Economic Research, June 2020. Working Paper Series, doi:10.3386/w27431.

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