One year since the U.S. went into lockdown to slow the spread of COVID-19, the effects of the virus and the economic shutdown persist. National unemployment remains at 6.2%, nearly three percentage points greater than the rate at the start of last year.
Locally, economic activity in the Philadelphia metro reflects that of the country.
Unemployment is persistent, hovering around 7.0%. Over a third of the small businesses that closed remain that way, and fewer people are walking and taking public transportation than in the beginning of 2020.
Although the initial vaccine rollout had its challenges, supply is catching up and the pace of vaccinations has increased, resulting in a 12% average daily growth of fully vaccinated residents in Philadelphia. This progress, along with another installment of unprecedented economic stimulus, points to an increase in the speed of the recovery in 2021.