Stop covid or save the economy? We can do both
In the first employment report after social distancing measures had taken hold in many US states, the Department of Labor announced that 3.3 million people had filed jobless claims . A week later, in the first week in April, an additional 6.6 million claims came in—almost unfathomable compared with the previous record of 695,000, which was set in 1982. As bad as those numbers are, though, they greatly understate the crisis, since they don’t take into account many part-time, self-employed, and gig workers who are also losing their livelihoods. Financial experts predict that US GDP will drop as much as 30% to 50% by summer . You can read our most essential coverage of the coronavirus/covid-19 outbreak for free, and also sign up for our coronavirus newsletter . But please consider subscribing to support our nonprofit journalism. In late March, President Donald Trump warned against letting “the cure be worse than the problem itself” and talked of getting ...
