Hiring and economic rebound making a comeback

    Hiring and the economic rebound could make its recovery faster than we think. As of now, job hiring has been weakened because of the pandemic and many businesses are prone to medium to long-term scarring. Businesses like restaurants, airlines, and hotels. But we’re also seeing that household finances are more healthy because people are spending more time in their houses. Theres less debt and more savings. This, in the future, encourages more spending and keeping the economy steady. And if congress provides financial assistance it is possible to help the long term unemployed get employed as well as raise employment overall. 

This article is particularly relevant to today, with the pandemic affecting the economy it's important to know how the future will look. One thing I found interesting was how it referred back to previous recessions and compared that situation to our current situation. It said although there are people who have been affected severely by the pandemic a lot haven't been affected as much, this will allow the moderately affected to engage with the economy right away, this was one thing that was different. I don’t know too much about economics or the news so it was a little difficult to follow along. But I feel as if this article works as a great update on how people predict things could look and why they might be that way. A chunk of the article talked about unemployment and scarring. I learned scarring meant that the job market or a particular business is damaged long term by permanent loss, especially financially. There was a mention of how these scarred jobs won't come back but I’m not sure if I understood that correctly. I couldn't really understand much else besides the fact that it will be difficult for the unemployed to get employed again because they’ll have to expand their skill sets and whatnot. And the last part said how one is more concerned about unemployment and job loss over inflation. As this is just a prediction the future may or may not produce an outcome as such states, but because it is a prediction based off observation we can assume the future will somewhat resemble this. 


Rugaber, Christopher. “Why US Hiring Could Rebound Faster Than You Might Expect.” usnews.com         Associated Press. 3 February 2021 online.  

https://www.usnews.com/news/us/articles/2021-02-03/why-us-hiring-could-rebound-faster-than-you-might-expect   


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