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The Real Economy: May 2021

The Biden administration’s $2 trillion infrastructure project

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The Biden administration has proposed spending roughly $2 trillion over the next decade to improve the nation’s infrastructure. In our estimation, such a project would result in an additional $6.1 trillion in economic activity over the next decade, an improvement in gross domestic product of 0.4% per year and add 3.2 million jobs to total employment over 10 years.

In this month’s The Real Economy, we examine the elements of the Biden administration’s infrastructure package, from the Big I projects like roads, bridges and waterways, to the Little I initiatives, which include expanding 5G access and broadband to more Americans.

Download the full monthly economic report.

IN THIS ISSUE

Understanding a $2 trillion infrastructure project

Understanding a $2 trillion infrastructure project

A closer look at the Biden administration’s proposal and how it can improve productivity and, ultimately, raise living standards.

How pandemic savings might have saved the day

How pandemic savings might have saved the day

We are confident that the year will end with the unemployment rate as low as 4.1% and the economy growing by 7.5% on a yearly basis.

First-quarter GDP: Growth improves as the recovery accelerates

First-quarter GDP: Growth improves as the recovery accelerates

It's essential that the fiscal and monetary authorities follow through on current policy paths for the economy to return to full employment.

Clean energy infrastructure is a key part of Biden's jobs plan

Clean energy infrastructure is a key part of Biden's jobs plan

Companies in the energy industry and related sectors need to pay close attention to what the bill could potentially mean for them.

Residential construction costs surge amid supply constraints

Residential construction costs surge amid supply constraints

Everything from lumber to asphalt to cement to insulation has soared in price as the homebuilding industry has heated up.

Cyberattacks continue to increase, with the middle market at risk

Cyberattacks continue to increase, with the middle market at risk

Hackers and other electronic criminals continued their relentless pursuit of data and sensitive information from middle market businesses.

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