COVID-19

Today’s Numbers: The COVID Economy

Scott Tong and Mitchell Hartman Jun 1, 2020
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Kira-Yan/Getty Images
COVID-19

Today’s Numbers: The COVID Economy

Scott Tong and Mitchell Hartman Jun 1, 2020
Kira-Yan/Getty Images

As of 10:00 a.m. Eastern time, June 1, 2020 (we’ll update every weekday morning).

“The leading economic indicator is … the virus.” More than one analyst has put it to us this way. As we try to understand and quantify this unprecedented global economic collapse — and now the attempted restart — we’re following key metrics for COVID-19 and the broader economy.

Welcome to Marketplace’s daily, at-a-glance update.

U.S. COVID-19 deaths reported yesterday: 656 (falling)

U.S. COVID-19 new cases — yesterday: 23,877 (rising)

Daily new tests reported, U.S.: 441,448 (rising)

Construction spending, April: -2.9% month/month, +3.0% year/year

Manufacturing employment, May: +4.6% over April

Source: IHS Markit

Keep in mind: The tally of COVID-19 cases represents only the ones that are documented. Since many remain untested, surely the real number is higher.

Our main trusty sources: World Health Organization, Centers for Disease Control and Prevention, Johns Hopkins University, Our World in Data (based on WHO data, Covid Tracking (scientist/journalist collaboration), GasBuddy.

COVID-19 Economy FAQs

Which businesses are allowed to reopen right now? And which businesses are actually doing so?

As a patchwork of states start to reopen, businesses that fall into a gray area are wondering when they can reopen. In many places, salons are still shuttered. Bars are mostly closed, too, although restaurants may be allowed to ramp up, depending on the state. “It’s kind of all over the place,” said Elizabeth Milito of the National Federation of Independent Business.

Will you be able to go on vacation this summer?

There’s no chance that this summer will be a normal season for vacations either in the U.S. or internationally. But that doesn’t mean a trip will be impossible. People will just have to be smart about it. That could mean vacations closer to home, especially with gas prices so low. Air travel will be possible this summer, even if it is a very different experience than usual.

When does the expanded COVID-19 unemployment insurance run out?

The CARES Act, passed by Congress and signed by President Donald Trump in March, authorized extra unemployment payments, increasing the amount of money, and broadening who qualifies. The increased unemployment benefits have an expiration date — an extra $600 per week the act authorized ends on July 31.

You can find answers to more questions here.

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