Groundwork hosted a webinar on September 15, featuring White House CEA Member Heather Boushey. The speakers highlighted how the COVID-19 recovery stands in stark contrast to the recovery period following the Great Recession.
The COVID-19 pandemic led to a crushing recession that threw millions of workers into joblessness. Unemployment rose higher in three months of COVID-19 than it did in two years of the Great Recession. However, driven by historic public investments, the economy has rebounded faster and more equitably than many anticipated. The U.S. labor market recovered all the jobs lost during the pandemic recession, in just over two years – a feat that took more than six years to reach following the Great Recession. Additionally, workers’ real wages have begun to grow after a bout of high inflation, and Black workers have seen the lowest unemployment rate on record.