New data paints a grim picture of what the debilitating disease is doing to people's lives and the economy.
, according to calculations from Harvard University economist David Cutler who reviewed to the report.
Brookings also finds that this experience is consistent with those of comparable economies. They cite who stated that labor force participation has dropped by around 1.3 percent across the entire 16 to 64 year-old population and that long-term illness is causing the greatest impact.“If long COVID patients don’t begin recovering at greater rates, the economic burden will continue to rise,” added Bach. They estimate that if the number of Americans infected long COVID increases by just 10 percent each year, the annual cost of lost wages will amount to half a trillion dollars in 10 years.
At the end of the report, it highlights the five “critical interventions” that should be taken to best mitigate the macro and microeconomic effects of long COVID, including: better prevention and treatment, expanding paid sick leave, improving workplace accommodations, widening access to disability insurance, and enhancing data collection.
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