350,000 deaths or 18 million job losses: Wharton economists break down the tradeoffs associated with reopening the US economy
A new analysis indicates how soon the US economy opens will depend on a trade-off between three factors: the size of the economy, jobs lost, and lives lost.
Wharton considered the trade-off between coronavirus-related deaths, jobs saved, and economic growth that states need to make when reopening the economy. The best-case scenario for saving lives was, predictably, continued sheltering in place through June 30, with individuals adhering toAndy Kiersz/Business Insider
A partial reopening with social distancing, where some states lift their emergency declarations and shelter-in-place mandates, would result in more than 161,000 coronavirus-related casualties, a slightly smaller GDP decline, by 10.7%, and 11.3 million jobs lost.
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