Socioeconomics is the social science that studies how economic activity affects and is shaped by social processes [a]. We use socioeconomics to understand how changes within the economy affects the wellness of citizens.
Notable socioeconomic events include:
Great Depression of the 1930s
2007-2008 Global Financial Crisis and Recession
2020 COVID-19/Coronavirus Pandemic
During the 2007-2008 Recession, homelessness in Los Angeles grew 12% [b]. While national homelessness is constantly rising, surges always occur during economic crises. We don't yet have significant data on growth of homelessness during the 2020 Pandemic but we know surges throughout the United States will occur.
Economic Crises Aren't Avoidable
Yes, financial assistance has been made available during the 2020 Pandemic. Newly unemployed Americans received a $600 weekly payment for a bulk of the Pandemic's growth and many companies received paycheck protection for their workers, among other protections provided by lenders and banking institutions.