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Are the jobs Secure? Is there a Second Covid19 Shutdown?

Are the jobs Secure? Is there a Second Covid19 Shutdown?

November 13, 2020: The USA Economy has affected after many years. It has been a tough year for many and a challenging year for all the companies across the world. The number of new cases registered is increasing, and the recent highest recorded on Thursday since August.

The many States have set rules based on the situation. California has strict rules to be followed still and, Florida has removed the rules and is free not mandatory to wear masks across the state. Winter is recorded from next week, and there will be an increase in respiratory disease, flu, and other illness. The COVID cases are expected to increase in the coming days.

Will the government shut down the economy because of the increase in cases? Unsure about the future move from the government the employment is at risk. The first shutdown in the month of March was unprepared but, not the next one, say the experts. 14.6% was the unemployment rate in April 2020, In which 65% of the employees said after one or two months, their employer shut down the company and have lost job permanently.

In a June 2020 interview with CNBC, Hartmut Issel, head of APAC equities at UBS Global Wealth Management, said, “Locking down an entire country … cost(s) you up to 3% of GDP per month, so even the richest nations on the planet cannot afford another two, three months complete lockdown”.

If there is a second shutdown in the country, then the unemployment rate will drastically increase in some cases where people are relying on the daily wage. Some of the companies have already learned to tackle the situation in the first shut down and would be ready for the second with necessary measures and plans.

In an August 2020 interview with ABC News, Biden said, “I would be prepared to do whatever it takes to save lives because we cannot get the country moving until we control the virus… to keep the country running and moving, and the economy growing, and people employed, you have to fix the virus, you have to deal with the virus.”

When asked if he would shut down the economy if the scientists said it was the best course of action, Biden said, “I would shut it down. I would listen to the scientists.”

Other factors are affecting the shut down like politics, vaccine availability, the new President rules. Biden said he would listen to his scientist to decide on the lockdown it is still unsure if there will be a second lockdown or not.

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