Analysis of the Impact of COVID-19 on the U.S. Economy Based on Big Data Processing and Experimental Analyses

ABSTRACT

With the outbreak of COVID-19, the world has experienced unprecedented crises especially in economy. The United States is more seriously affected. In order to more clearly show the current situation of the U.S. economy affected by the epidemic from the data level, the author completes the paper by using the research method of big data processing and experimental analyses to show that how Coronavirus influences economy, that is, the impact on GDP and the exchange of volume of stock shares and the impact on unemployment rate which can be shown in specific data. The author also discusses the degree of influence on different industries. The result shows that COVID-19 has seriously affected the overall economy of America. The specific data performance is the decline of GDP (about 5%) and the rise of unemployment (about 15%). The stock price has dropped significantly, even affecting the overall stock trading volume (declined by 55%). The purpose of this paper is to clearly show the specific influence on the US economy from the data level. The result can provide a specific data reference for the formulation of American economic policy in the next few years and provide a data basis for the study of the economic situation after the epidemic in the United States. © 2021 IEEE.