Post
Topic
Board Economics
Re: The number of jobless people has crossed one million in US - worrying sign?
by
Upgrade00
on 23/08/2020, 06:45:45 UTC
The fall in unemployment levels some weeks ago was due to the easing of lockdown, this meant businesses could open back up and staffs could return to work, numbers of infected people kept rising and businesses were forced to shut down meaning the jobs regains were again lost. It was a gamble and not a solution to tackle the current economic crisis.

A V-shaped economic recovery is unlikely. The pandemic was handled poorly by the government, and as the numbers keep rising, more businesses would close up, less money would circulate, more money would be printed to stimulate the spending, inflation rises and the economy keeps contracting; The recovery time would take much longer, even if an effective vaccine was eventually discovered, probably U-Shaped, with a wide base line.