Long after COVID first caused the economy to collapse in early 2020, the pandemic persists. Although at a lower incidence, the Delta variety is still responsible for positive cases, while the Omicron version is now beginning to appear nationwide. President Biden has advocated for vaccines with greater vigor. The overall state of the economy has improved from before the outbreak. Even if unemployment is close to pre-pandemic levels and there are plenty of jobs in some industries, shortages and inflation still exist, and some people haven’t caught up to where they were at the beginning of last year.
Even many people now decide against going back to work right now. But many people will have trouble finding good jobs. Although the government unemployment benefit expired more than two months ago, millions of individuals continue to struggle with a lack of food and unpaid debts. There should be a fourth stimulus check. Several states, notably California, have acknowledged the need for more assistance and have made additional payments of the stimulus check.
Fourth Round Of Stimulus Check Coming For Americans?
According to the latest recent estimate from the Bureau of Economic Analysis, the U.S. economy expanded at an annualized rate of 2.0 percent in the third quarter of 2021. That represents a significant deceleration from the ferocious speed of the second quarter’s growth of 6.7 percent. According to the Conference Board, the balance of the year will see continued, albeit slower, growth. Gross domestic product (GDP), a measure of economic activity across the U.S., has reached levels from before the outbreak. That broad metric indicates that the economy has fully recovered.
Large swaths of the workforce have experienced little financial hardship due to the outbreak. Many tasks that may be easily completed at a desk at an office can also be done at a desk at home. The stimulus check have helped many americans to be outside of the poverty line.