Why the US Economy will take off in 2021

 Nikolas Cantu

IHSS
Mr.Roddy

2 February 2021


Why the US Economy will take off in 2021


The article while posted on December 10, 202 talked about the current status of the United States and what the impact was of the events that we all know of and can relate to from 2020 carrying on into this year. The three main topics that the article talked about were covid, racial unrest, and the election. The main point of discussion with each of these topics was talking about how they had an impact on our economy and what were some of the effects that each of them had on things like business. A lot of the article consisted of statistics that we greatly affected from this past year and the events which transpired. The end of the article touched upon how 2021 will be a comeback year we have learned enough to start pushing against all that has happened and we can start fixing things.


To start off let's take a quick trip back to 2020 a year we all want to forget. Throughout this past year, a lot has happened from the pandemic to rioting, protesting, and the election. All of these things had a great impact on a lot of things such as covid affecting anything from schools to businesses and any major public events such as Coachella. Millions of jobs were affected with the employment rate for women dropping 15% and for men 12% from February to April in 2020. And during the month of February of the 4 million that had lost their jobs 55% consisted of women. While covid had a massive effect on millions of jobs and businesses it did benefit other companies. Places like grocery stores had a massive increase in sales which caused the nation's supply chain to move even faster, having to supply hundreds of stores across the nation with at the least basic food products. Things like E-Commerce companies started to become the go-to for the millions of people that were too scared to leave their house. Other things like video games as well as zoom, which was a fairly unheard of company, gained a lot more interest because of the situation. All of these things are important to understand because different companies will benefit based on the current economic situation. While the current economic status is not as bad as it was months ago during the earlier stages of the pandemic it is still not where it needs to be. A big part of this is how our president will help with our current situation and what they will do to make sure we make our way back up to a steady economy. By understanding what economic decay can stem from such as this pandemic you can better understand how it can be prepared for in the future. Looking at other issues from this past year that have affected our economy were the protests in response to the Black Lives Matter movement alongside George Floyd's death. This was not only a very sensitive time in the United States but it was also a very dangerous time for business. Because of the rioting, the stores that finally re-opened from covid had to be boarded up again as the rioting caused a serious impact on business, and store owners were scared that their stores would be greatly affected by the chaotic rioting. The rioting on its own caused a lot of economic decline in business and from the property damage that was done. Lastly, when looking at the title of the article and what it talks about at the end and how 2021 could be a comeback year for our economy it creates a lot of questions in terms of what will really be done to help what is going on. There is always an extent of what can be done no matter what as not everything can be fixed while I do think that major changes in current economic situations will be improved this year I do think we have some time before things truly get back to normal.



Pollak, J. (2020, December 10). Why the U.S. economy will take off in 2021. Retrieved February 03, 2021, from https://www.wsj.com/articles/why-the-u-s-economy-will-take-off-in-2021-11607612401


Back up Link to a doc with the article Copied

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