The US has already announced more than $2.2tn in stimulus packages to protect the economy from the impact of the Covid-19 pandemic. As unemployment rates continue to rise, additional stimulus packages may be needed even if they are costly and increase debt.
Paul Krugman, an economist and Nobel laureate, tweeted an article on the slowdown in unemployment rate due to Covid-19 in the US.
The article is based on surveys conducted by Civis Analytics, which shows that women, part-time workers and workers earning more than $100,000 are still facing unemployment.
However, the unemployment rate among full-time employees, men and workers earning less than $50,000 was falling by mid-to-late April.