Grand Rapids' Economy During the COVID-19 Recession
Content published January 2021 in the Seidman Business Review, Volume XXVII, Winter 2021 edition.
Gerry Simons, Ph.D., Professor, Department of Economics
Towards the end of 2020, the business and economic news in the U.S. juggled fears of a double-dip recession with hopes for a vaccine assisted recovery. While the direction the economy will take is uncertain, it can be useful to look at our state and local economy to see the impact the COVID-19 pandemic has had and the lessons learned.
The economic picture for Michigan is a complicated one. The public’s attention during the pandemic has often been, understandably, on unemployment and retail sales, particularly restaurants, bars, and other businesses where people come into close contact with each other. While many lost their jobs in the early months of the pandemic, and others switched to working at home. While international travel was out of the question for most people, what happened to international trade? In addition, the situation for the state as a whole is not necessarily indicative of the economic experience in Grand Rapids.
Click here to view the entire article: Grand Rapids’ Economy During the COVID-19 Recession
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