Investigating the COVID-19 Economy in Pennsylvania
The United States had months to prepare for the COVID-19 epidemic and ensuing economic collapse, but the Trump Administration ignored and mismanaged every step of the crisis. As a result of their failure, millions of Americans are sick and 125,000+ have died.
The Trump Administration’s failure also led to widespread economic devastation. Several national and economic trends are consistent across the country, namely a massive demand shock resulting in catastrophic job loss in hospitality, leisure, and retail trade industries. But these trends are only part of the story.
Pennsylvanians, for example, are facing unique economic struggles. Using federal, state, and county-level data on jobs, businesses, and revenue streams, we show how the COVID-19 economic collapse is affecting people throughout the state. Pennsylvania’s health care industry is a notable weak spot in its economy, between revenue losses expected to top over $10 billion this year and shedding jobs at an unprecedented rate. Health care replaced manufacturing as the top industry employer in the Pennsylvania suburbs since 2000, meaning this crunch will cause significant pain for families across the Pennsylvania suburbs.