2. The Basics
Due to this pandemic, our economy
has gone into a big recession.
All public areas have been closed off, except the necessities, such as fast food places,
doctor’s offices, and markets.
This is all to keep our population safe and prevent the further spread of the
Coronavirus.
3. Unemployment Rates
The shutting down of socialization is going to have a big affect on our economy.
Unemployment rates have risen significantly.
Around 10 million Americans have lost their jobs.
People are now receiving unemployment insurance by the government to be able to
survive during this pandemic.
The CARES act has taken place, coronavirus aids,
relief, and economic security, in order to cover
more people with the insurance.
4. The Economy
In China, the exports and the production of manufactured goods have decreased
dramatically.
The U.S. imports have decreased significantly as well according to
This is causing a greater harm to our economy.
5. Business Industries
Many business industries are being impacted heavily by this quarantine. The
traveling industry has entered a steep decline.
Food and clothing companies are also being affected. There are changing demands
on food items, as many people would only go to fast food places now.
6. Revival of the Economy
Economists say that the effect of this pandemic will last for a long time to come.
The shutting down of society will remain in place until an efficient vaccine is created
and helps control the virus.
If society were to reopen, then many people would be affected at once, which would
lead to the reclosing of society once again.
Our economy could take until 2021 or 2022 or even longer to recover from this
pandemic.
7. What we can do...
Although most jobs are running out of business, there are still a couple things we
can do to help keep some companies running.
❏ One thing we can do is order delivery and takeout
from home. This will help keep some restaurants
in business since no one would go out to eat.
❏ Another way we can help is by going online
shopping. This will help companies stay in business as we order products from
them.
8. Link to Reference Page…
https://docs.google.com/document/d/1-VvjEJs0VL-d2LaJJbmWPFVHdGmzfpu_d
LNa710REIc/edit?usp=sharing
