American Recovery
By: Snigdha Cingireddi
The Coronavirus epidemic occurred in late 2019, but the American recovery could be closer than expected with the hopes of a possible recovery with a Moderna vaccine. This poses a lot of problems, though, such as what happens after the pandemic? Will we really restore the depleting prestige of America? How is the world's most strong nation going to recover?
Economic:
Right now with 1,48 million new cases and 16,578 new fatalities, cases are at their highest peak ever. The delivery of the Modernas Covid 19 vaccine began with the permission for emergency use of the vaccine in people above the age of 18. Since employment rates have been down, the labor market seems weak, but hiring rates have been growing, suggesting hope for the job market in the future. Unlike the labor market, the housing sector fared better than it did before the pandemic. New listings are up again in some states compared with last year. Sales are taking place more quickly, too. The mortgage rate for 30 years is still low at all times, and the low rates mean that it is the cheapest time to take out a mortgage. With the Dow Jones industrial average making a complete recovery after a 34 percent decrease, stocks have also been at an all-time peak, and skyrocketed in November. However the industry has also been impacted by rising events. The US economy is looking promising right now with job rates projected to grow, housing and the stock market still beating expectations, and potentially an effective Moderna vaccine.
Politics:
Biden was elected as the next President of the US in November and has already announced plans to fight the pandemic. To combat the pandemic, Biden created a Covid 19 advisory board that consists of 13 public health experts. The Emergency Action Plan to save the economy has also been established by Biden, which is a paper that talks about what he will do while in office.This includes stimulus assistance and unemployment insurance for Americans. Biden also plans to provide healthcare staff with more tools and funding. He also has been aiding small businesses, as Biden claims to be the "backbone for communities." These ideas will help boost the recovery of America.
Social:
People's everyday lives were also influenced by the pandemic. Such as how individuals work, attend school, communicate with family and friends, and travel. More than 50 percent of Americans believe their lives will have to change after the pandemic. Quarantine has also contributed to a spike in mental health and drug abuse concerns. Not only in the US, but around the globe, suicide rates have also risen tremendously. New research has shown that 1 in 5 individuals who get Covid often develop a struggle with mental health.
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