A new report from the National League of Cities finds that local governments are seeing big drops in revenue.
The situation for small and medium-sized businesses is probably even worse.
Service-sector jobs are coming back, but professionals who've been working from home are facing layoffs.
Companies are finding ways to soften the pandemic's blow to their bottom lines.
One reason why Black-owned businesses have fared worse in the pandemic: weaker banking relationships
That leaves them restricted access to capital, according to a study by the New York Fed.
The nature of the economic crisis resulting from the pandemic means we know little about how to deal with its aftermath.
Historically marginalized workers are overrepresented among public employees, and many could be laid off.
Many states don't have the luxury of borrowing to get through the crisis. Without more federal aid, they have few options
The Fed said while the economy has rebounded from the low in March and April, the pandemic will have lasting effects.