The last few years have starkly shown how interconnected the world has become. The COVID-19 virus spread across borders and regions with ease, disrupting communities and economies across the globe. One of COVID’s biggest ripple effects was the impact on global supply chains. Suppliers worldwide operated through much of 2020 and 2021 at lower capacity

After decades of declining power and influence, organized labor in the U.S. is making a comeback. The COVID-19 pandemic has set off a number of shifts in the labor market that have given workers more power. Labor participation rates fell sharply early in the pandemic and still have not recovered to pre-pandemic levels. The Great

Understanding the complexities of the U.S. tax code can be a challenge for any taxpayer to navigate alone, but major shifts at the federal level in recent years have made the tax landscape even more uncertain. Under the Trump Administration and a Republican Congress, the Tax Cuts and Jobs Act of 2017 made major changes

The COVID-19 pandemic brought a number of abrupt changes to the U.S. economy, but some of the most lasting impacts could be in the future of work. From the rise of hybrid and remote work to the Great Resignation to “quiet quitting,” workers have been renegotiating how they work and what they look for in

Entrepreneurship is one of the most powerful forces in the U.S. economy. The Small Business Administration classifies 13% of all establishments as startups and estimates that there are a total of 31.7 million small businesses in the U.S. Economic experts, policymakers, and business leaders all tout these new and developing enterprises as essential for job

In the last few years, policymakers, experts, and the public at large have paid more attention than ever to disparities faced by America’s racial and ethnic minorities. And some of the starkest gaps minorities face are in the realm of economic opportunity. White workers earn significantly more than members of other racial and ethnic groups,

The COVID-19 pandemic provided an unexpected financial boost to many in the U.S., but with the economy potentially facing a recession, households and businesses could have challenging months and years ahead. And after years of encouraging downward trends, this could mean that bankruptcies in the U.S. will once again be in focus. The pandemic’s impact

2022 has brought some of the most noteworthy victories for organized labor in the U.S. in a number of years. Workers at major corporations like Starbucks, Amazon, and Apple have led successful union drives. Petitions for union elections filed at the National Labor Relations Board are up by more than 50% over last year. And

With numerous economic experts predicting that the U.S. is headed toward recession, one of the many concerning signals is a sharp decline in labor productivity. After more than a decade of below-average productivity growth, the COVID-19 pandemic raised the prospect of a productivity boom. Many low-productivity jobs were eliminated early in the pandemic, while major

On the surface, the economy of the last two years has been extremely favorable to workers. After spiking to nearly 15% early in the COVID-19 pandemic, the unemployment rate today sits around 3.6%. Despite employers’ urgency to hire, labor force participation has been slower to recover, and the “Great Resignation” has workers quitting at historic

Small businesses are the heart of the U.S. economy. Small businesses represent 99.9% of all businesses in the U.S., collectively employing nearly half of all U.S. employees and generating nearly half of U.S. annual GDP, according to data from the U.S. Small Business Administration. But the past two years have been treacherous for many small

Entrepreneurs, economic experts, public officials, and many more tout the benefits of innovation in the modern economy. Innovation can drive economic growth by creating new jobs or industries, improving efficiency and productivity, and raising quality of life. Some economists have calculated that innovation contributes approximately 50% of annual U.S. GDP growth. Jobs in STEM (science,

Amid rising inflation, consumers nationwide are now facing increased prices for a wide variety of goods. The COVID-19 pandemic disrupted global supply chains at the same time that many households had more to spend from government stimulus funds, increased savings, and rising incomes. The economy is now seeing the effects, with significantly higher prices for

Following months of rapid inflation, the U.S. Federal Reserve recently announced its first federal funds rate increases in more than three years. Federal Reserve Chair Jerome Powell followed this action with remarks several days later signaling that more rate increases are in store for 2022. The Federal Reserve’s recent moves were noteworthy because the U.S.

As the American population becomes more diverse, so does the population of school-aged children. However, teacher diversity is not keeping up, and the diversity gap between students and teachers continues to widen. According to 2020 data from the U.S. Census Bureau, 51% of students are not white. In comparison, non-white teachers account for less than

America’s population of racial and ethnic minorities is growing faster than ever, poising nonwhite Americans to be an increasingly large force in the U.S. economy. The results of the most recent decennial Census released last year showed divergent population trends for America’s white and nonwhite populations. While white Americans still represent a majority of the

While the COVID-19 pandemic has undoubtedly exacerbated stressful work conditions for frontline and essential workers, workers in a wide range of other occupations must also contend with stress at work on a regular basis. According to data from the Bureau of Labor Statistics and the Occupational Information Network (O*NET), nearly 8% of U.S. workers are

The COVID-19 pandemic has caused Americans to reassess their living arrangements, work situations, how they travel, and how they spend their free time. It has also impacted how they manage at home when faced with a COVID-19 infection or exposure in order to keep others safe. The Centers for Disease Control (CDC) recommends that people

More than a year and a half into the COVID-19 pandemic, one of the most noteworthy economic stories has been what economic commentators have termed “The Great Resignation.” Recent data from the U.S. Bureau of Labor Statistics found that 4.3 million Americans quit their jobs in August 2021, representing approximately 2.9% of the total workforce.

The COVID-19 pandemic has dramatically reshaped the U.S. labor market in many ways. Many low-wage jobs in fields like retail and hospitality were lost early in the pandemic and have not come back, while throughout the pandemic, there has been strong demand for health workers in response to the pandemic and technology specialists who can

Between the COVID-19 pandemic, more intense hurricanes, and ongoing wildfires impacting the western U.S., first responders are being challenged more than ever. While first responders are on the front lines during emergencies and face more danger than most people do in their occupations, they don’t earn much more. According to data from the Bureau of

Pent-up demand from the pandemic, low interest rates, and a shortage of properties have created a booming housing market with near record levels of refinance activity. While typical home values have increased by 15% from a year ago, the housing market is expected to stay hot in many cities through the end of the year

The expiration of the CDC’s national eviction moratorium on July 31 brought new attention to how the pandemic has put pressure on the housing market. With the expiration of the moratorium, millions of renters now face the possibility of eviction from overdue rent payments, after being protected from displacement for more than a year due

Since 2012, student loans have had the highest delinquency rate of any form of consumer debt. And while recent data from the New York Fed suggests that student loan delinquency rates have declined during COVID-19 pandemic, this data actually reflects the effect of government forbearance programs. While a large share of student loans are currently

Since its peak in 1979, manufacturing employment in the U.S. has been on the decline, accelerating sharply around the turn of the century. Despite modest gains since 2010, the number of manufacturing jobs remains far below previous levels. According to data from the U.S. Bureau of Labor Statistics (BLS), manufacturing accounted for more than 13

The COVID-19 pandemic has sparked a surge in geographic mobility. According to Pew Research Center, 22 percent of adults in the U.S. have relocated during the pandemic or know someone who did. Interestingly, this reverses a longstanding trend in which Americans were staying put. Data from the U.S. Census Bureau shows that prior to COVID-19, Americans

According to a recent Pew Research Center report, children in the United States are more likely to live in a single-parent household than children in at least 129 other countries, including China, India, and all of Europe. Maintaining a household as a single parent presents a number of challenges, the largest of which for many

With fall nearly here, schools across the country are solidifying their reopening plans amidst the pandemic. Teachers are becoming the new frontline workers, and with the virus resurging in many communities, a majority of teachers are worried about exposure to COVID-19 while on the job. Nationally, data from the Bureau of Labor Statistics shows that median annual

As the fall quickly approaches, schools around the country are grappling with the best way to operate safely during the COVID-19 pandemic. Many school districts will start the year virtually, while others will open with a hybrid approach that combines face-to-face instruction with online learning. Even in areas where schools are open fully, many families

With the end of the year approaching, Americans are beginning to turn their attention towards tax season. In addition to $3.3 trillion in federal taxes, last year Americans paid $950.5 billion in state taxes distributed across sales, income, property, license, and other taxes. Across all states, sales and gross receipts taxes were the largest source of state