The Pandemic Economy in 7 Numbers

The Daily

The New York Times

Daily News, News

4.4 • 102.8K Ratings

🗓️ 19 November 2020

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

There are several figures that tell the story of the American economy right now. Some are surprisingly positive — the housing market is booming — while others paint a more dire picture. Using seven key numbers, we look at the sectors that have been affected most profoundly and consider what the path to recovery might look like. Guest: Ben Casselman, who covers economics and business for The New York Times, walks us through the pandemic’s impact. We want to hear from you. Fill out our survey about The Daily and other shows at: nytimes.com/thedailysurvey For more information on today’s episode, visit nytimes.com/thedaily Background reading: Here is Ben’s snapshot of the key data points for understanding the impact of the pandemic on the economy.The expiration of two critical programs at the end of this year could leave millions of Americans vulnerable and short-circuit the nation’s precarious recovery.

Transcript

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0:00.0	From New York Times, I'm Michael Babaro. This is The Daily.
0:10.0	Today, as local governments begin re-imposing restrictions,
0:16.0	a check-in on the state of the pandemic economy.
0:21.0	My colleague Ben Castleman, with seven data points.
0:26.0	It's Thursday, November 19th.
0:35.0	Ben, it feels like there are a lot of ways to tell the story of the American economy right now.
0:39.0	There's the human level stories of the economy.
0:41.0	There are the policies that are in place or that are not in place, but perhaps should be.
0:46.0	And then there's the raw data.
0:48.0	And because it's been a while since we last talked about the economy on the show,
0:52.0	we wanted to approach it through the data so we can really get a handle on where the economy stands.
0:58.0	And as it happens, I know that you have been need deep in that data.
1:03.0	Michael, I'm always need deep in the data.
1:06.0	But yes, I have been especially need deep in the data recently,
1:10.0	sort of trying to figure out where we are in this economy and where we're going.
1:17.0	And I've brought you seven numbers today that I think maybe help tell that story a little bit.
1:23.0	Okay. So let's start with the first number, the first data point.
1:29.0	What is it?
1:30.0	That would be 10 million.
1:32.0	And what is that number?
1:34.0	So that's the total number of jobs that we've lost in the US since February.
1:41.0	So we lost about 22 million jobs in March and April.
	...

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