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In the absence of measures that protect employment, job separation and long spells of unemployment can lead to a loss of human capital either through depreciation in skills or a loss of firm‐specific human capital that has accumulated through matching in the labor market. This will have long‐run consequences for individuals’ lifetime earnings as well as affecting their financial security, sense of purpose and mental health. Thus we would also expect knock‐on adverse effects on morbidity and mortality. Therefore, protecting human capital and minimizing unemployment consequences beyond the duration of the social distancing measures are particularly important for both the economic and health consequences of the recovery. Rebuilding lost human capital may well be much more complex than replacing the physical or financial capital that has been wiped out in the large recessions experienced recently.

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In the long run, the current economic downturn and the social distancing measures that accompany it will hit some industries more than others, and consequently some regions more than others.

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Social distancing in itself is likely to have complex and nuanced effects on individuals’ social isolation and mental health, which will in turn feed through into physical health and mortality.

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Groups of particular concern are families with young children or where mothers are pregnant, and low‐income or low‐socio‐economic‐status individuals of all ages where health vulnerabilities and mental health problems are already prevalent.

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Groups of particular concern are families with young children or where mothers are pregnant, and low‐income or low‐socio‐economic‐status individuals of all ages where health vulnerabilities and mental health problems are already prevalent.

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LOSS OF INSURANCE BY STATE DURING PANDEMIC

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LOSS OF INSURANCE BY STATE DURING PANDEMIC

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The crisis has an impact on the availability of healthcare. Initially, all non‐urgent elective treatments were postponed, and the need for social distancing is making resumption of normal levels of service difficult.