Unemployment in US
President Donald Trump officially declared a national emergency on March 13, 2020. After two days the CDCP ( Centres for disease control & prevention) advised Americans to avoid gathering of 50 people. Over the next few weeks, restrictions tightened cause of the number of infections and deaths from the CORONA soared & more than 20 million Americans lost their jobs. The United States appeared to be in a period of historic prosperity. In the recent reports as of February, the unemployment rates stood at a multi-decade low of 4%!
Now, according to estimates released by Economy Policy, the new unemployment rate may hit by 17% by July, which is higher than at any point. Nearly every state has shed tens or hundreds of thousands of jobs over the three weeks at the starting of March. The rate of unemployment gets increases day by day.
The current economic downturn is largely attributable to efforts as millions of Americans are urged/ requested/ ordered to stay at home. Person to industry, every corner of life affected badly due to the Coronavirus. The industries, which are most affected by Coronavirus are retail, transportation, travel, restaurants, Sports, etc being devasted must by outbreaks. As people start to socially distance themselves, those in white-collar jobs will more easily be doing work from home, while hourly workers in the sector like hospitality& retail may be let go as their companies get less business. Airlines are the heart way of everyone, but this industry especially hard hit by pandemic Novel corona as restricted international as well as domestic flights too.
Sports- all leagues like NBA, XFL, NHL, and many more are either postponed or suspended. This created a wide-ranging ecosystem that dropped out. NO SPORTS means no tickets! & No ticket meant no money or revenue !!
Retail- Coronavirus devasted the retail industry & stores have already had to close their doors. Apple has closed all stores outside of China. But many outfitters brand like NIKE & other has announced plans to pay workers at least in short terms.
Other areas of life like technologies, food services, conventions , gyms, Constructions are affected & this increases the rate of unemployment over many employees. May lord gives strength & power to survive every one.