The Economic Perspective: “Pandemic Statistics”

Mary:  I’m Mary Walden with economist MW, welcoming you to the economic perspective.  Today’s program looks at pandemic statistics.  Mike, there are many numbers constantly being released about the pandemic, including infections, hospitalizations, and deaths.  But are there other numbers that show different impacts of the virus?

 

Mike:  Summary Answer

  • Yes, economic and social
  • There are fewer people in the workforce: labor force participation rate has dropped from 64% to 62%
  • House prices are rising twice as fast as rents
  • % of people having trouble buying food and paying rent are up 2% points
  • Share of unemployed workers who have been without work for more than half a year is up from the normal 20% to 37%
  • I’m MW

 

Mary:  And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.