With the introduction of the coronavirus pandemic back in the last couple of months of 2020, the U.S. economy went into a recession and shrank 3.5% after growing 4% last quarter. The article was written at the very beginning of 2021 when things were looking bleak and the author writes how economists believe there will not be much of a sustained recovery until the demand for vaccines is met with the supply and distribution of them through nationwide and government-enacted aid. Hiring is notably slowing down and the pandemic has discouraged people from traveling, shopping, dining out, and visiting entertainment venues. Since the article was written so early in the year, there likely would not have been a competitive market…
In 2020 US GDP, the AP article discusses the shrink in the US economy following a quarter of growth within the beginning of the global pandemic. The covid pandemic struck the entire world in 2020 so there was no surprise there would be a drop in the US GDP and global economy. However, the coming months after showed a growth of 4% and promise for the future if it was not for the 3.5% annual decrease showing it did not make back up for the incurred losses. It was quick to trigger a recession and left millions unemployed. The article mentions an unsettling outlook for 2021 since many can not predict how the pandemic will continue to affect us. Having…
The prospect of the economy is experiencing a mild recession similar to 1990 is quite unsettling. Especially given the three-decade gap that has transpired since then. Even though a 1% decrease in the GDP growth rate may appear modest those are significant proportions when you consider the enormity of the gross domestic product. The current standing is at 23.32 trillion USD in 2021. It's concerning that the attempts to prevent economic downturns seem to be ineffective. This article effectively addresses those concerns about a recurrence of the severe Great Recession of the late 2000s. Given the possibility of stricter monetary policies and reduced economic growth impacting financial stability and increasing the risk of debt issues. It is…
I found this article interesting because of covid’s effect on a personal level, I wanted to find out more about how it affected the American Economy as a whole. Beginning with the title itself “US economy shrank 3.5% in 2020 after growing 4% last quarter,” this itself is a huge drop to see with in a year alone. Next the staggering detail is that fact that about is the 847,000 Americans who applied for jobless aid. This is one of the highest years of application for jobless aid in all American History. These two details really display how much of a sucker punch covid was to Americas economy. On top of that the article also stated that Covid was the…
Since the U.S. economy is currently everyone’s top concern, the title of this article really caught my interest. Due to the ongoing uncertainty in the world today, the market is one thing that is severely impacted in numerous ways each day. A drop in the number of people working was one of the real consequences of the COVID-19 pandemic, which altered many aspects of our everyday life for the worse. Even with there being a large number of employment options, I find it baffling how many individuals are still unemployed. As Crutsinger wrote, “…the government reported that while applications for unemployment benefits declined last week, they remained at a historically high 847,000,” and as a result, many businesses were forced…
With the introduction of the coronavirus pandemic back in the last couple of months of 2020, the U.S. economy went into a recession and shrank 3.5% after growing 4% last quarter. The article was written at the very beginning of 2021 when things were looking bleak and the author writes how economists believe there will not be much of a sustained recovery until the demand for vaccines is met with the supply and distribution of them through nationwide and government-enacted aid. Hiring is notably slowing down and the pandemic has discouraged people from traveling, shopping, dining out, and visiting entertainment venues. Since the article was written so early in the year, there likely would not have been a competitive market…
In 2020 US GDP, the AP article discusses the shrink in the US economy following a quarter of growth within the beginning of the global pandemic. The covid pandemic struck the entire world in 2020 so there was no surprise there would be a drop in the US GDP and global economy. However, the coming months after showed a growth of 4% and promise for the future if it was not for the 3.5% annual decrease showing it did not make back up for the incurred losses. It was quick to trigger a recession and left millions unemployed. The article mentions an unsettling outlook for 2021 since many can not predict how the pandemic will continue to affect us. Having…
"A New Recession"
The prospect of the economy is experiencing a mild recession similar to 1990 is quite unsettling. Especially given the three-decade gap that has transpired since then. Even though a 1% decrease in the GDP growth rate may appear modest those are significant proportions when you consider the enormity of the gross domestic product. The current standing is at 23.32 trillion USD in 2021. It's concerning that the attempts to prevent economic downturns seem to be ineffective. This article effectively addresses those concerns about a recurrence of the severe Great Recession of the late 2000s. Given the possibility of stricter monetary policies and reduced economic growth impacting financial stability and increasing the risk of debt issues. It is…
I found this article interesting because of covid’s effect on a personal level, I wanted to find out more about how it affected the American Economy as a whole. Beginning with the title itself “US economy shrank 3.5% in 2020 after growing 4% last quarter,” this itself is a huge drop to see with in a year alone. Next the staggering detail is that fact that about is the 847,000 Americans who applied for jobless aid. This is one of the highest years of application for jobless aid in all American History. These two details really display how much of a sucker punch covid was to Americas economy. On top of that the article also stated that Covid was the…
Since the U.S. economy is currently everyone’s top concern, the title of this article really caught my interest. Due to the ongoing uncertainty in the world today, the market is one thing that is severely impacted in numerous ways each day. A drop in the number of people working was one of the real consequences of the COVID-19 pandemic, which altered many aspects of our everyday life for the worse. Even with there being a large number of employment options, I find it baffling how many individuals are still unemployed. As Crutsinger wrote, “…the government reported that while applications for unemployment benefits declined last week, they remained at a historically high 847,000,” and as a result, many businesses were forced…