by Caitlin Tilley at Daily Mail
- Covid had ‘unprecedented’ economic effects on the US, researchers have said
- The pandemic’s monetary cost was 20 times more than the cost of 9/11
- READ MORE: Covid measures cost Massachusetts residents $2,862 each
The Covid pandemic has been given a hefty price tag of $14 trillion.
A team of economists, public policy researchers and other experts from the University of Southern California used economic modeling to estimate the pandemic’s financial toll on the nation.
The pandemic, which triggered once-unthinkable lockdowns and upended the global economy, killed more than 1.1 million Americans and hospitalized many more.
The researchers said the pandemic’s economic effects were ‘unprecedented’ for the US.
Using data from the first two and a half years of the pandemic, the researchers forecasted the scale of Covid monetary losses from January 2020 to December 2023.
They approximated the revenue lost due to forced business closures and also considered the economic burden of alterations in behavior including steering clear of restaurants, theaters and other busy spots.
Work absences and sales lost due to the stopping of shopping done on foot, flights abroad and public gatherings had the most impact.
The sectors that were the worst hit were air travel companies,…
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