11 facts on the economic recovery from the COVID-19 pandemic

Fact 1: In the second quarter of 2021, GDP returned to its pre-pandemic level.

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Fact 2: The sharp decline in employment in spring 2020, which was largely concentrated in the services sector, has only partially reversed.

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Fact 3: Millions of workers are no longer eligible for Unemployment Insurance.

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Fact 4: The number of job openings and the number of workers quitting their jobs is higher now than in the past 20 years.

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Fact 5: Post-pandemic, income after government taxes and transfers, as well as household saving, have been above their recent trends.

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Fact 5: Even with recent jumps in inflation, lower income workers are seeing increases in real wages.

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Fact 7: Fiscal support led to a reduction in poverty in 2020.

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Fact 10: Retail inventories are unsustainably low.

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Fact 11: There were more new business applications and fewer bankruptcies in 2020 and 2021 than in 2018 and 2019.

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