The economics news is dismal with reports every day of shutdowns, layoffs, and furloughs. More than 16 million Americans have been thrown out of work so far, and we have entered the worst downturn since the Great Depression of the 1930s.

Yet amid the gloom there are frequent reports of businesses and entrepreneurs making advances in the battle against Covid19. The private sector is racing to produce vaccines, treatments, tests, and medical supplies to defeat the pandemic.

Here are some recent developments:

I discuss other business advances against Covid19here. Business Roundtable lists ways that its members are contributinghere. BIO discusses medicines that its members are developinghere. The Chamber of Commerce describes small business efforts to combat the virushere. PhRMA tallies the dozens of Covid19 therapies and vaccines in development in the chart below and sourcedhere.

David Kemp helped research this blog.

This article first appeared at the Cato Institute.

Image: Reuters.

Original post:

16 Million Out Of Work: Yet The Private Sector Is Making Progress Against Coronavirus - The National Interest