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Tag Archives: inequality

The Great Divergence: A Fork in the Road for the Global Economy

By Kristalina Georgieva عربي, Español, 日本語, Русский  As G20 finance ministers and central bank governors meet virtually this week, the world continues to climb back from the worst recession in peacetime since the Great Depression. The IMF recently projected global GDP growth at 5.5 per cent this year and 4.2 per cent in 2022. But it is going to be a long and uncertain ascent. Most of the world is facing a slow rollout of vaccines even as new virus mutations are spreading—and the prospects for...

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Black and White Differences in the Labor Market Recovery from COVID-19

David Dam, Meghana Gaur, Fatih Karahan, Laura Pilossoph, and Will Schirmer The ongoing COVID-19 pandemic and the various measures put in place to contain it caused a rapid deterioration in labor market conditions for many workers and plunged the nation into recession. The unemployment rate increased dramatically during the COVID recession, rising from 3.5 percent in February to 14.8 percent in April, accompanied by an almost three percentage point decline in labor force...

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Understanding the Racial and Income Gap in Commuting for Work Following COVID-19

Ruchi Avtar, Rajashri Chakrabarti, and Maxim Pinkovskiy The introduction of numerous social distancing policies across the United States, combined with voluntary pullbacks in activity as responses to the COVID-19 outbreak, resulted in differences emerging in the types of work that were done from home and those that were not. Workers at businesses more likely to require in-person work—for example, some, but not all, workers in healthcare, retail, agriculture and...

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Some Workers Have Been Hit Much Harder than Others by the Pandemic

Jaison R. Abel and Richard Deitz As the COVID-19 pandemic took hold in the United States, in just two months—between February and April 2020—the nation saw well over 20 million workers lose their jobs, an unprecedented 15 percent decline. Since then, substantial progress has been made, but employment still remains 5 percent below its pre-pandemic level. However, not all workers have been affected equally. This post is the first in a three-part series exploring disparities in labor...

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COVID’s Long Shadow: Social Repercussions of Pandemics

By Philip Barrett, Sophia Chen, and Nan Li عربي, 中文, Español, Français, 日本語, Português, Русский  In 1832, the great cholera pandemic hit Paris. In just a few months, the disease killed 20,000 of the city’s 650,000 population. Most fatalities occurred in the heart of the city, where many poor workers lived in squalid conditions, drawn to Paris by the Industrial Revolution. The spread of the disease heightened class tensions, as the rich blamed the poor for spreading the disease and the poor...

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Understanding the Racial and Income Gap in COVID-19: Essential Workers

Ruchi Avtar, Rajashri Chakrabarti, and Maxim Pinkovskiy This is the fourth and final post in this series aimed at understanding the gap in COVID-19 intensity by race and by income. The previous three posts focused on the role of mediating variables—such as uninsurance rates, comorbidities, and health resource in the first post; public transportation, and home crowding in the second; and social distancing, pollution, and age composition in the third—in explaining the racial and...

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Understanding the Racial and Income Gap in COVID-19: Social Distancing, Pollution, and Demographics

Ruchi Avtar, Raji Chakrabarti, Lindsay Meyerson, and Maxim Pinkovskiy This is the third post in a series looking to explain the gap in COVID-19 intensity by race and by income. In the first two posts, we have investigated whether comorbidities, uninsurance, hospital resources, and home and transit crowding help explain the income and minority gaps. Here, we continue our investigation by looking at three additional potential channels: the fraction of elderly people, pollution,...

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Understanding the Racial and Income Gap in COVID-19: Public Transportation and Home Crowding

Ruchi Avtar, Rajashri Chakrabarti, and Maxim Pinkovskiy This is the second post in a series that aims to understand the gap in COVID-19 intensity by race and income. In our first post, we looked at how comorbidities, uninsurance rates, and health resources may help to explain the race and income gap observed in COVID-19 intensity. We found that a quarter of the income gap and more than a third of the racial gap in case rates are explained by health status and system factors. In...

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Understanding the Racial and Income Gap in Covid-19: Health Insurance, Comorbidities, and Medical Facilities

Ruchi Avtar, Rajashri Chakrabarti, and Maxim Pinkovskiy Our previous work documents that low-income and majority-minority areas were considerably more affected by COVID-19, as captured by markedly higher case and death rates. In a four-part series starting with this post, we seek to understand the reasons behind these income and racial disparities. Do disparities in health status translate into disparities in COVID-19 intensity? Does the health system play a role through...

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Top 10 Charts of the Week for 2020

2020 will soon be over, and with it an incredibly trying year. The editors at IMFBlog wish you good health and peace over the holidays ahead, and into the new year. In case you missed some of the compelling facts and figures in our Charts of the Week series this year, we have pulled together your top reads. Here are the top ten charts of the week for 2020, based on your readership. 1. Global Uncertainty Related to Coronavirus at Record High 2. Unemployment in Today’s Recession Compared to...

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