A Blow to Economic Recovery

Six months after the coronavirus pandemic tore a hole in the U.S. economy, the once-promising recovery is stalling, leaving millions out of work, and threatening to push millions more. We have seen throughout this pandemic, that many places are out of business and many people have been laid off from companies due to the decrease in productivity by those companies. At first, it was supposed to be temporary, but now it seems as if this could go on longer than expected and this could cause protests and outbreak from people who got laid off. Many companies went online allowing people to be able to still work but still, even those companies had to lay off many people in order to maintain their business and not let it die down. Economists said that the economic report underscored the need for more federal help. This means many people are wanting to get more federal aid or more stimulus checks in order to maintain their lives. The unemployment rate fell to 7.9 percent, down from a record high of nearly 15 percent in April which means there was some improvement. But along this good news carried a caveat that nearly 700,000 people left the labor force, meaning they no longer counted as unemployed. Overall, unemployment is even worse for women than men if looked across demographics. This means single women who tend to take care of their children are in a much worse condition and should be given aid through either federal aid or be considered for jobs as much as men. Do you guys believe this is unfair to each person? Do you guys believe that people should get more federal aid or should the companies get more aid so they could start hiring more employees decreasing unemployment rate as well? Cited: Casselman, B., & Friedman, G. (2020, October 02). Job Gains Are Waning, a Blow to Economic Recovery. Retrieved December 07, 2020, from https://www.nytimes.com/2020/10/02/business/economy/september-jobs-report.html