There is a promise of the vaccine that will be coming out and be effective, but before everything gets to normal, the economy is going to worsen before it gets better. The economy added about 245,00 just last month, with about 60% of those jobs tied to transportation companies. This pattern that we can see here during this pandemic has been compared to the recession in the 2000-2001 recession.
A separate survey measured the household’s employment rate, which was negative for the first time since the pandemic had started in April. There is labor - market deterioration because we can see that the government’s survey on the households and saw that the number of jobs created each month. During the 2007-2009 recession, the household survey had begun to show a decline in employment 10months before the establishment survey.
There have been many new cases that have been building up over this week. According to the New York Times tracker, the U.S. counted 216,548 new cases on Thursday and 2,885 set on Friday.
Do you guys think that 2021 is going to go the same way it did this year?
https://www.marketwatch.com/story/the-u-s-economy-is-going-to-get-worse-before-it-gets-better-11607113936
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