We use nationally-representative linked survey and administrative data to document socioeconomic and demographic disparities in the economic and health effects of the COVID-19 pandemic in the United States during its first two years. Impacts on all-cause mortality and on employment were concentrated in the same racial/ethnic, education, industry, and occupation groups. Black-White and Hispanic-White disparities in mortality impacts narrowed over the two years, but educational disparities persisted. For economic impacts, only Hispanic-White disparities narrowed. Lower-income individuals experienced greater mortality impacts and this gradient steepened in the second year. Our findings, using consistent methods and measures, highlight the pandemic's heterogeneous impacts.

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