Persistent worries about catching Covid kept about 3 million Americans out of the workforce, reducing the nation’s economic output by $250 billion in the first half of 2022, according to new research on a phenomenon dubbed “Long Social Distancing.”
Close to 60% of respondents to a monthly survey of tens of thousands of adults said they wouldn’t completely return to pre-Covid activities like riding crowded subways and elevators, and were staying out of the labor force as a result. Those not working or looking for a job in part due to infection fears totaled about 2% of the labor force, which translated to the 3 million figure, the researchers found.
When accounting for the earnings of those people, the effect equates to an annual loss in gross domestic product of about $250 billion at current prices, the report…
