Visualized: Key Events in the COVID-19 Timeline
It’s been a long and eventful year since COVID-19 was officially declared a global pandemic by the World Health Organization (WHO) on March 11, 2020.
The tangible and intangible costs of COVID-19 have been severe. In this visual COVID-19 timeline, we delve into some significant milestones that have occurred around the world.
December 2019-February 2020
Pre-Pandemic COVID-19 Timeline
The origin story actually begins at the turn of the new year, as events began bubbling under the surface in Wuhan, China. The first coronavirus cluster was reported on December 31, 2019, with initial exposures linked to the Huanan Seafood Market.
In the new year, the first coronavirus cases began filtering outside of China, to Thailand and the U.S.—causing the WHO to declare a public health emergency of international concern. As the death toll ticked up to over 200, it was clear that this was no ordinary virus.
All dates in the graphic are based on when events occurred rather than when they were widely reported.
In February 2020, the novel coronavirus was finally named COVID-19. In addition, the Diamond Princess cruise ship was linked to 624 confirmed cases in late February—the highest case cluster outside of China at the time. The ship captured international headlines when it was refused port in a number of countries, casting COVID-19 into the spotlight.
This month also marked a significant turning point. Dr. Li Wenliang, a Chinese doctor, had tried to draw global attention to the severity of China’s outbreak before he passed of COVID-19 on February 7, 2020.
If the officials had disclosed information about the epidemic earlier I think it would have been a lot better […] There should be more openness and transparency.
—Dr. Li, in a NYT interview a few days before his passing
Italy and Iran then grew significantly as global hotspots of COVID-19. The U.S. reported its first death due to COVID-19—however, it was only discovered in April that there were in fact two prior deaths due to the virus in the country.
On March 11, 2020, WHO made a critical decision. As the virus began to transcend borders and claim thousands of lives, it announced that the COVID-19 outbreak had officially become a deadly global pandemic.
In the year that followed, the virus was relentless in spreading around the world. How have cumulative case counts and death tolls evolved since the beginning?
|Date||Cumulative Cases||Cumulative Deaths|
|February 1, 2020||12,038||259|
|March 1, 2020||88,394||2,996|
|April 1, 2020||958,586||50,535|
|May 1, 2020||3,368,225||242,691|
|June 1, 2020||6,284,173||378,365|
|July 1, 2020||10,675,433||513,479|
|August 1, 2020||17,852,606||681,368|
|September 1, 2020||25,772,515||857,960|
|October 1, 2020||34,326,374||1,024,204|
|November 1, 2020||46,597,718||1,202,376|
|December 1, 2020||64,006,923||1,485,018|
|January 1, 2021||84,054,370||1,835,383|
|February 1, 2021||103,410,000||2,245,069|
|March 1, 2021||114,420,000||2,538,582|
Source: Our World in Data via Johns Hopkins University
Let’s explore key events in the COVID-19 timeline that took place over the course of the past year.
365 Days of the Pandemic
The initial impacts of the pandemic were felt swiftly, and progressively became worse. Within the first three months, the world paid a high human and economic toll.
Whiplash for the World
Following the WHO announcement, numerous sporting events were cancelled, from the NBA and NHL 2019-2020 seasons to the UEFA Euro men’s soccer championship. Even the Tokyo Summer Olympics were postponed for a year.
In late March 2020, the U.S. surpassed China to become the hardest-hit country by COVID-19. In terms of overall case numbers, it remains the global epicenter of the pandemic today, followed by India and Brazil.
The stock market took a severe hit, with a crash rivaling other recessions and significant financial crises. For example, here’s how the Dow Jones Index Average dropped in March alone:
|Event||Date||Dow Jones Industrial Average (% change)|
|Black Monday I||March 9, 2020||-7.79%|
|Black Thursday||March 12, 2020||-9.99%|
|Black Monday II||March 16, 2020||-12.93%|
Stock markets re-entered a bull market in April, but the damage had already been done. The S&P 500, for example, would only return to pre-pandemic levels in August.
To help prop up the economy, the U.S. unveiled the $2 trillion CARES Act, the largest economic stimulus package in history—near 10% of national gross domestic product.
Multiple countries locked down their borders to the rest of the world, from the European Union to India. These travel bans and reduced mobility affected not just airline revenues, but temporarily had a noticeable effect on carbon emissions too.
In addition, two world leaders—UK’s Prime Minister Boris Johnson and Russia’s President Mikhail Mishustin—contracted COVID-19.
A Deadly Surge
Numbers kept rising over the next six months, following the shifting geography of COVID-19 into densely populated regions such as Africa, South Asia, and the Middle East. In a controversial move, Brazil stopped making its COVID-19 case data public starting June 7, 2020.
Global deaths due to COVID-19 surpassed half a million at the end of June—and jumped to over 1 million by the end of September. Another heartbreaking record was set in mid-October when global cases leapt up by 1 million in just three days.
Former U.S. President Donald Trump, Brazil’s President Jair Bolsonaro, and Poland’s President Andrzej Duda were among many more world leaders to test positive for COVID-19.
December 2020-March 2021
Vaccines Bring Hope
At the very end of 2020, some optimism for things going back to normal was restored when Moderna announced the very first vaccine candidate, followed by Pfizer/BioNTech.
However, more alarm was raised as reports of a faster-spreading, more infectious strain of COVID-19 emerged from the UK. Two more variants have also since been discovered:
|Variant||Date identified||Location||Countries with Reported Cases
(Feb 28, 2021)
|B.1.1.7||Sep 2020||🇬🇧 United Kingdom||94|
|B.1.351||Oct 2020||🇿🇦 South Africa||48|
|P.1||Jan 2021||🇧🇷 Brazil*||25|
*Note: P.1 was first detected in Japan but traced back to Brazil
In January 2021, WHO organized an international scientific consultation around these variants. The good news? Existing and emerging vaccines will still potentially provide adequate protection against these variants.
In March 2021, the U.S. Congress approved President Biden’s $1.9 trillion pandemic relief bill. Some details of the money breakdown include:
- Up to $1,400-per-person stimulus payments for 90% of households
- $350 billion in state and local aid
- $8.5 billion to rural hospitals and healthcare providers
The rest is expected to go towards safely reopening K-12 schools, assisting hard-hit small businesses, extending food stamp benefits, vaccine R&D and distribution, and more.
An End in Sight for the COVID-19 Timeline?
With the global vaccine rollout now underway, many more key vaccine producers, from AstraZeneca/Oxford University to Johnson & Johnson, have joined in the fight to return life to normal.
Although there have been deep losses due to COVID-19, many hope that we’ll learn from the lessons of this past year, and emerge stronger than ever.
We have come so far, we have suffered so much and we have lost so many. We cannot, we must not squander the progress we have made… Science, solutions and solidarity remain our guide. There are no short-cuts.—Dr. Tedros Adhanom Ghebreyesus, Director-General of WHO
Correction: In a previous version of the graphic, Russian Prime Minister, Mikhail Mishustin, was incorrectly listed as President.
Visualizing the Recent Explosion in Lumber Prices
Lumber prices in the U.S. continue to break records as pressure from both the supply and demand sides of the market collide.
Visualizing the Recent Explosion in Lumber Prices
Lumber is an important commodity used in construction, and refers to wood that has been processed into beams or planks.
Fluctuations in its price, which is typically quoted in USD/1,000 board feet (bd ft), can significantly affect the housing industry and in turn, influence the broader U.S. economy.
To understand the impact that lumber prices can have, we’ve visualized the number of homes that can be built with $50,000 worth of lumber, one year apart.
A Story of Supply and Demand
Before discussing the infographic above, it’s important to understand the market’s current environment.
In just one year, the price of lumber has increased 377%—reaching a record high of $1,635 per 1,000 bd ft. For context, lumber has historically fluctuated between $200 to $400.
To understand what’s driving lumber prices to new heights, let’s look at two economic elements: supply and demand.
U.S. lumber supplies came under pressure in April 2017, when the Trump administration raised tariffs on Canadian lumber. Since then, lumber imports have fallen and prices have experienced significant volatility.
After a brief stint above $600 in April 2018, lumber quickly tumbled down to sub $250 levels, causing a number of sawmills to shut down. The resulting decreases in production capacity (supply) were estimated to be around 3 billion board feet.
Once COVID-19 emerged, labor shortages cut production even further, making the lumber market incredibly sensitive to demand shocks. The U.S. government has since reduced its tariffs on Canadian lumber, but these measures appear to be an example of too little, too late.
Against expectations, COVID-19 has led to a significant boom in housing markets, greatly increasing the need for lumber.
Lockdowns in early 2020 delayed many home purchases until later in the year, while increased savings rates during the pandemic meant Americans had more cash on hand. The demand for homes was further amplified by record-low mortgage rates across the country.
Existing homeowners needed lumber too, as many Americans suddenly found themselves requiring upgrades and renovations to accommodate their new stay-at-home lifestyles.
How Many Homes Can You Build With $50K of Lumber?
To see how burgeoning lumber prices are impacting the U.S. housing market, we’ve calculated the number of single family homes that could be built with $50,000 worth of lumber. First, we established the following parameters:
- Lumber requirements: 6.3 board feet (bd ft) per square foot (sq ft)
- Median single family house size: 2,301 sq ft
- Total lumber required per single family house: 14,496 bd ft
Based on these parameters, here’s how many single family homes can be built with $50,000 worth of lumber:
|Date*||Lumber Price||Total Lumber Purchased||Total Homes Built|
|2021-05-05||$1,635 per 1,000 bd ft||30,581 bd ft||2.11|
|2020-05-04||$343 per 1,000 bd ft||145,773 bd ft||10.05|
|2015-05-01||$234 per 1,000 bd ft||213,675 bd ft||14.74|
|2010-05-01||$270 per 1,000 bd ft||185,185 bd ft||12.77|
*Exact matching dates were not available for past years.
As lumber prices continue to set record highs, the National Association of Home Builders (NAHB) has reported that the cost to build a single family home has increased by $36,000. Most of this cost can be passed down to the consumer, but extremely tight supplies mean homebuilders are unable to start more projects.
The Clock is Ticking
Despite their best efforts to increase output, it’s likely that sawmills across the U.S. will continue playing catch-up in 2021.
“There was a great fear among sawmills to prepare for a downturn. When home buying surged, they could not open up capacity quickly enough.”
– Lawrence Yun, National Association of Realtors
Analysts are now warning that lumber prices could reach a flashpoint, where affordability becomes so limited that demand suddenly falls off. This has led the NAHB to ask the Biden administration for a temporary pause on Canadian lumber tariffs, which currently sit at 9%.
U.S. tariffs on Canadian lumber were first introduced in 1982, and represent one of the longest lasting trade wars between the two nations. The U.S. is currently appealing a World Trade Organization (WTO) ruling that states its 2017 tariff hike was a breach of global trading rules.
Mapped: The State of Small Business Recovery in America
Compared to January 2020, 34% of small businesses are currently closed. This map looks at the small business recovery rate in 50 metro areas.
Mapped: The State of Small Business Recovery in America
In the business news cycle, headlines are often dominated by large corporations, macroeconomic news, or government action.
While mom and pop might not always be in focus, collectively small businesses are a powerful and influential piece of the economy. In fact, 99.9% of all businesses in the U.S. qualify as small businesses, collectively employing almost half (47.3%) of the nation’s private workforce.
Unfortunately, they’ve also been one of the hardest-hit sectors of the economy amid the pandemic. From the CARES Act to the new budget proposal, billions of dollars have been allocated towards helping small businesses to get back on their feet.
Small Business Recovery in 50 Metro Areas
During the pandemic, many small businesses have either swiftly pivoted to survive, or struggled to stay afloat. This map pulls data from Opportunity Insights to examine the small business recovery rate in 50 metro areas across America.
So, has the situation improved since the last time we examined this data? The short answer is no—on a national scale, 34% of small businesses are closed compared to January 2020.
San Francisco is one of the most affected metro areas, with a 48% closure rate of small businesses. New York City has spiralled the most since the end of September 2020.
|U.S. Metro Area||% Change in # of|
Small Businesses Open
(As of Sep 25, 2020)
|% Change in # of|
Small Businesses Open
(As of Apr 23, 2021)
|7-month change (p.p.)|
|New York City||-21%||-42%||-21|
|Salt Lake City||-18%||-23%||-5|
Data as of Apr 23, 2021 and indexed to Jan 4-31, 2020.
On the flip side, Honolulu has seen the most improvement. As travel and tourism numbers into Hawaii have steadily risen up with lifted nationwide restrictions, there has been a 16 p.p. increase in open businesses compared to September 2020.
Road to a K-Shaped Recovery
As of April 25, 2021, nearly 42% of the U.S. population has received at least one dose of a COVID-19 vaccine. However, even with this rapid vaccine rollout, various segments of the economy aren’t recovering at the same pace.
Take for instance the stark difference between professional services and the leisure and hospitality sector. Though small business revenues in both segments have yet to return to pre-pandemic levels, the latter has much more catching up to do:
This uneven phenomena is known as a K-shaped recovery, where some industries see more improvement compared to others that stagnate in the aftermath of a recession.
The Entrepreneurial Spirit Endures
Despite these continued hardships, it appears that many Americans have not been deterred from starting their own businesses.
Many small businesses require an Employer Identification Number (EIN) which makes EIN applications a good proxy for business formation activity. Despite an initial dip in the early months of the pandemic, there has been a dramatic spike in EIN business applications.
Even in the face of a global pandemic, the perseverance of such metrics prove that the innovative American spirit is unwavering, and spells better days to come for small business recovery.
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