Impact on economies

Data graphics, insights from leaders, and stories that illustrate the impact of COVID-19 on economies.

Community and employment impact | Small-business impact | Macroeconomic impact

COMMUNITY AND EMPLOYMENT IMPACT

Article

Achieving an inclusive US economic recovery

– COVID-19 has most affected workers who were already vulnerable. Unless bold action is taken, the postpandemic recovery will further exacerbate inequality.
Video - McKinsey Global Institute

Nextdoor’s CEO on supporting communities through COVID-19

– The neighborhood app aims to create ‘strong weak ties’ during the crisis that help its neighbors persevere.
Article

It’s time for a new approach to racial equity

– Despite decades of efforts by public-, private-, and social-sector organizations, racial inequity has only increased. Can a concerted, coordinated effort reverse this trend?
Article

Diverse employees are struggling the most during COVID-19—here’s how companies can respond

– New global research shows that despite companies’ recent efforts, diverse employees need more. Businesses should ask themselves new questions for a changed workplace.
Article

Building supportive ecosystems for Black-owned US businesses

– The right business ecosystems can mitigate or negate the effects of structural obstacles to business building for Black business owners—and add $290 billion in business equity.
Article

Problems amid progress: Improving lives and livelihoods for ethnic minorities in the United Kingdom

– Britain has made progress on advancing ethnic equality. But minorities are still disadvantaged in many ways, and some groups are particularly vulnerable to economic shocks.
Article

Women in the Workplace 2020

– In a year marked by crisis and uncertainty, corporate America is at a crossroads. The choices companies make today will have consequences on gender equality for decades to come.
Report

US Hispanic and Latino lives and livelihoods in the recovery from COVID-19

– Hispanics and Latinos are key to the US recovery but have been damaged disproportionately by the pandemic. Targeted interventions are required to improve their health and economic outcomes.
Report - McKinsey Global Institute

India’s turning point: An economic agenda to spur growth and jobs

– A clarion call is sounding for India to put growth on a sustainably faster track and meet the aspirations of its growing workforce.
Article

Understanding how American workers progress to higher-wage jobs

Preliminary research findings identify the career pathways that allow workers to move from low-wage jobs to middle-wage or higher-wage jobs.
Interactive

Tracking US unemployment through the COVID-19 crisis

See how unemployment data are changing across states, counties, and sectors.
Article

How COVID-19 has impacted Black-white financial inequality

– COVID-19 has disrupted everything from economic markets to personal finances, but not everyone feels its effects equally.

SMALL-BUSINESS IMPACT

Article

UK small and medium-size enterprises: Impact of the COVID-19 crisis

– Survey results reported toward the end of 2020 suggested that the outlook for UK SMEs was improving. Will that last?
Interactive

US small-business vulnerability during the COVID-19 crisis

The most vulnerable sectors include some 1.7 million small businesses.
Webinar

Protecting US small businesses from the impact of COVID-19

– Many small businesses have closed as a result of the COVID-19 crisis. In this McKinsey Live webinar, partner Deepa Mahajan discusses... innovations and support mechanisms that could help keep more small companies in business.
Article

US small-business recovery after the COVID-19 crisis

– Improving operations and adapting business models can help small businesses in many industries recover. Finding the cash to do... so may be a stretch.
Article

COVID-19’s effect on minority-owned small businesses in the United States

– Already vulnerable, minority-owned small businesses brace for disproportionate impact. Here’s how to help.

Macroeconomic impact

Article

Achieving an inclusive US economic recovery

– COVID-19 has most affected workers who were already vulnerable. Unless bold action is taken, the postpandemic recovery will further... exacerbate inequality.
Survey

The coronavirus effect on global economic sentiment

– Economic expectations remain high but have tempered since December, and executives in Latin America and in Europe are less confident... than their peers about the future.
Interactive

Nine scenarios for the COVID-19 economy

– Learn more about potential economic outcomes of the COVID-19 crisis and how global executives rate the likelihood of each one.
Interview

Growth and prosperity: A conversation with economist Dambisa Moyo

– From stronger public- and private-sector collaborations to broader corporate-board intentions, the time for stakeholder capitalism... may be upon us.
Article - McKinsey Global Institute

COVID-19 has revived the social contract in advanced economies—for now. What will stick once the crisis abates?

– Massive government spending has sought to shield individuals from the economic consequences of the pandemic, reversing a long-term... trend of institutional pullback in the social contract.
Article - McKinsey Global Institute

Rethinking the future of American capitalism

– American capitalism has evolved time and again, and we may be poised for another such shift. Will the future of capitalism involve... tweaks, reforms, or wholesale change?
Article

The case for stakeholder capitalism

– Consumers and society at large are expecting more from business. Embracing these responsibilities can help shareholders, too.
Report - McKinsey Global Institute

India’s turning point: An economic agenda to spur growth and jobs

– A clarion call is sounding for India to put growth on a sustainably faster track and meet the aspirations of its growing workforce.

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