The COVID-19 pandemic has presented the United States with a set of unique public health and economic challenges. Economically, the crisis has negatively affected businesses, the labor market, and households. In this set of 10 facts, Wendy Edelberg, Kristen Broady, Lauren Bauer, and Jimmy O’Donnell assess the extent of these economic damages and provide an overview of existing policy interventions.
The COVID-19 pandemic poses an existential threat to small businesses, with more than 400,000 lost since the crisis began. Many small businesses are financially fragile and not equipped to weather a prolonged period of substantially reduced revenues. In this proposal, Steven Hamilton of The George Washington University calls for a significant expansion of refundable tax credits to help support small businesses through this crisis.
The COVID-19 pandemic has taken a disproportionate toll on Black Americans—yet these unequal outcomes are not novel challenges. Bradley Hardy and Trevon Logan outline several pre-pandemic conditions that have impeded Black Americans’ economic security and increased their vulnerability to the current crisis.
In 2017, over 15 million workers (about 10 percent of the total U.S. workforce) were in alternative work arrangements. In this economic analysis, Ryan Nunn and Jimmy O'Donnell explore the characteristics of these workers, analyze their unique economic outcomes, and assess policy reforms that can help provide more security for these workers.
In this strategy paper, The Hamilton Project explores the decline in U.S. LFPR as well as patterns by age, gender, race, and education. We then assess potential explanations and describe numerous Hamilton Project policy proposals that would raise labor force participation.
The Hamilton Project finds that changing employment and school enrollment patterns have contributed to declining labor force participation among youth, aged 16 to 24.