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From job cuts to online commerce, virus reshaped US economy


WASHINGTON — At first, it was expected to be brief. At least, that was the hope.
Instead, a once-in-a-century pandemic has ground on for a year, throwing millions out of work and upending wide swaths of the American economy. Delivery services thrived while restaurants suffered. Home offices replaced downtown offices. Travel and entertainment spending dried up.
The job losses were swift and harsh. But, they hardly fell equally across the economy. Black and Hispanic workers fared worse than others. And many women, mostly mothers, felt compelled to quit the workforce to care for children being schooled online from home. Despite the job cuts, Americans as a whole socked away a record level of savings, buoyed by government aid to the unemployed and income that higher-paid workers, hunkered down at home, managed to squirrel away. ....

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ONE YEAR LATER: How COVID-19 reshaped our economy


The worlds of police officers and young men of color can seem oceans apart, even when they are in the same city. There is a divide that has existed for generations between these two groups. The disconnect is reflected in the massively disproportionate arrest data for males of color that resu…
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From job cuts to online commerce, virus reshaped US economy


From job cuts to online commerce, virus reshaped US economy
CHRISTOPHER RUGABER, AP Economics Writer
March 11, 2021
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1of12A Space Available real estate sign is posted on the facade of a closed supermarket, Tuesday, March 2, 2021, in Manchester, N.H. After a year of ghostly airports, empty sports stadiums and constant Zoom meetings, growing evidence suggests that the economy is strengthening. Hiring picked up in February 2021. Business restrictions have eased as the pace of viral infections has ebbed. Yet the economy remains far from normal.Charles Krupa/APShow MoreShow Less
2of12A woman, wearing a protective mask due to the COVID-19 virus outbreak, walks past the signs of an employment agency, Tuesday, March 2, 2021, in Manchester, N.H. After a year of ghostly airports, empty sports stadiums and constant Zoom meetings, growing evidence suggests that the economy is strengthening. Hiring picked up in February 2021. Bus ....

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Biden's $1.9 trillion relief plan reflects seismic shifts in U.S. politics


Biden s $1.9 trillion relief plan reflects seismic shifts in U.S. politics
Jeff Stein, The Washington Post
March 7, 2021
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President Joe Biden and first lady Jill Biden walk to Marine One on the South Lawn of the White House on Feb. 26.Washington Post photo by Demetrius Freeman
WASHINGTON - A new Democratic administration facing down a massive economic crisis pushes a $800 billion stimulus package. A bloc of centrist Democrats balk at the price-tag, and Republicans are thrown into a frenzy warning about the impact to the federal deficit.
A little more than a decade later, another new Democratic administration takes office facing a different economic crisis. This time, it proposes spending an additional $1.9 trillion in spending, even though the federal deficit last year was $3.1 trillion - much larger than during the last crisis. Centrist Democrats unify behind passing the measure, and the GOP rejects it but in a more muted fashion. ....

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