The health-care industry is surprisingly suffering in the middle of a pandemic.
The U.S. GDP shrunk 4.8 percent in the first three months of the year, Commerce Department numbers released Wednesday reveal. That's the biggest economic contraction since the Great Recession, and health care accounts for half of that downfall at a 2.25 percent loss, economist Justin Wolfers noted.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
'Communist Cuba grasps a lifeline: capitalists'Today's Newspapers A roundup of the headlines from the US front pages
-
John Swinney: the SNP's ultimate 'safe pair of hands'Why Everyone's Talking About Former leader described as a 'serious person for serious times' is front runner to replace Humza Yousaf
-
Chechnya in jeopardy: what would death of Ramzan Kadyrov mean for Putin?Today's Big Question Strongman leader is 'terminally ill', stoking fears of armed conflict in the North Caucasus
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
-
Visa and Mastercard agree to lower swipe feesSpeed Read The companies will cap the fees they charge businesses when customers use their credit cards
-
Reddit IPO values social media site at $6.4 billionSpeed Read The company makes its public debut on the New York Stock Exchange
-
Housing costs: the root of US economic malaise?speed read Many voters are troubled by the housing affordability crisis
-
Feds cap credit card late fees at $8speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
