From the Document: "Three crises--health, economic, and social--are converging into one difficult moment in American history. Everyone has been affected, but the highest costs are falling on those least prepared to bear them. The path forward will require investments in 'opportunity infrastructure' that maximize individual potential, reduce inequities, and lay the foundation for long-term economic growth. The following is adapted from a presentation by the president and CEO of the Federal Reserve Bank of San Francisco to the National Press Club, Washington, DC, on Monday, June 15."
From the Document: "Since COVID-19 [coronavirus disease 2019] hit the United States, more than 20 million American workers have become unemployed and countless others have left the labor force altogether. While the labor market disruptions have affected workers in a wide set of industries and occupations, those without a college degree have experienced the most severe impact. Addressing gaps in educational attainment will be important to creating better economic resiliency for individuals against future shocks."
Federal Reserve Bank of San Francisco
Daly, Mary C.; Buckman, Shelby R.; Seitelman, Lily M.