Economics | Penn Today

U.S. jobless claims top 30 million in six weeks as coronavirus rocks economy

Ioana Marinescu of the School of Social Policy & Practice said the U.S. is witnessing an unemployment rate that hasn’t been seen since the Great Depression. “We need further policy action to help businesses reopen and workers return to work without losing income,” she said. “Allowing workers to keep their extra $600/week unemployment benefits while going back to work would be a helpful first step.”

Closeup of a hand holding an empty wallet over a desk strewn with bank statements, credit cards and a calculator.

When cash is tight, should you borrow from retirement?

While millions of Americans find themselves strapped for cash with reduced work or lost jobs, tapping retirement savings is fraught with risks that need careful consideration, according to experts at Wharton.

Business and science are pointing in the same direction

Kevin Volpp and David Asch of the Wharton School and Ralph Muller, former CEO of the Health System, wrote about the path to safely reopening the economy. They propose performing or observing multiple social experiments to see what does and doesn’t work and implementing “good scientific practice” to establish early warning systems.

McConnell says he favors letting states declare bankruptcy

David Skeel of the Law School commented on Mitch McConnell’s support for letting states declare bankruptcy. “That’s amazing,” Skeel said. “This is a pretty strong signal that bankruptcy for states ought to be part of the policy debate.”

The Arctic could have almost no summer sea ice by 2040, decades sooner than expected

Statistical analysis by economists from Penn and the Federal Reserve Bank of San Francisco could supplement current climate models and help global climate prediction.

A nurse with gloved hands puts an IV in the arm of an elderly patient

What the pandemic teaches us about nursing home care

Balancing patient safety and financial stability grows more challenging as nursing homes manage post-acute care patients recovering from COVID-19.

Aerial view of a city block of houses in West Philly.

What to do if you can’t pay rent or mortgage because of the coronavirus

As the coronavirus stifles the economy and triggers mass layoffs, many people are concerned about how they’ll pay their mortgage or cover their rent in coming months. Wharton expert, Susan Wachter, offers advice.

Person wearing full protective gear including latex gloves, goggles, hood and full protective medical gown.

COVID-19 and lessons for public health

Six lessons for public health in the U.S. during the fight against COVID-19.

Bedding and blankets belonging to homeless people on the ground underneath an underpass

How the pandemic could affect income inequality

Wharton’s Benjamin Lockwood discusses income inequality in the U.S. in the wake of COVID-19, and how the Coronavirus Aid Relief and Economic Security Act raises questions about what policy will look like on the other side of the coronavirus outbreak.

A room full of people seated with others standing in the back of the room

COVID-19 and the housing crisis

Amy Castro Baker of the School of Social Policy & Practice advocates for a multiprong approach to public assistance during the global pandemic

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