Putting Economic Impact of Pandemic in Context

Historical look at unemployment, sectors shows magnitude of COVID-19 impact on economy. Learn more in this America Counts story.

America Counts: Stories Behind the Numbers Putting Economic Impact of Pandemic in Context We know the COVID-19 pandemic has caused record job losses and transformed the nation's employment landscape but recently released historical data tables put the magnitude of the economic disruption in clear context. In 2017, for example, roughly 30 million adults experienced either an end of employment or a reduction in work hours, including both involuntary and voluntary job terminations. But only about 3.8 million collected Unemployment Insurance (UI), which is contingent on involuntary job termination, according to the Census Bureau's Survey of Income and Program Participation (SIPP). Read More In contrast, roughly four times the number of people (115 million) had experienced a loss in employment income from the start of the pandemic in March 2020 through February 2021. As a result, roughly 10 times the number of people (37 million) qualified for and received UI during that period, according to the Census Bureau's experimental Household Pulse Survey. Continue reading to learn more about: Economic sectors Need for government assistance Help us spread the word about America Counts. Share this story on social media or forward it to a friend. Share This You May Be Interested Initial Impact of COVID-19 on U.S. Economy More Widespread Than on Mortality: Census Bureau research shows the pandemic initially had a more widespread impact on the economy than on mortality rates. Learn More About America Counts America Counts tells the stories behind the numbers in a new inviting way. It features stories on various topics such as families, housing, employment, business, education, economy, emergency preparedness, health, population, income and poverty. Contact our Public Information Office for media inquiries or interviews. Don't miss an America Counts story! Subscribe here.

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