COVID-19’s total cost to the economy in US will reach $14 trillion by end of 2023 – new research

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Article written by Adam Rose, Jakub Hlávka, via on 16 May 2023

The big ideaThe economic toll of the COVID-19 pandemic in the U.S. will reach US$14 trillion by the end of 2023, our team of economists, public policy researchers and other experts have estimated.
Workplace absences, and sales lost due to the cessation of brick-and-mortar retail shopping, air travel and public gatherings, contributed the most.
From 2020 to 2023, the cumulative net economic output of the United States will amount to about $103 trillion.
Although the federal government has now lifted its COVID-19 Public Health Emergency declaration, the pandemic is still influencing the U.S. economy.
We didn’t estimate the vast array of economic costs tied to COVID-19, such as lost years of work after an early death or a severe case of long-COVID-19.

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